Equity Trading Tips for 16/09/2014

ECONOMY ANALYSIS

Sensex falls 244 pts, Nifty ends below 8050; pharma steady

August WPI inflation hits a 5 year low of 3.74%

Fortis hits 10% upper circuit; RadLink sale to ease debt

Lupin hits record high, may sign big deal with Merck Serono

Google launches Android One phones in India, priced at Rs 6399 onwards

MARKET ANALYSIS

Logging their worst single-day drop in over five weeks, Sensex today fell 244.48 points to end at 26,816.56 and Nifty slid 63.50 points to 8,042 on losses in bluechips tracking tepid China data and US rate hike fears, even as August domestic inflation eased to nearly 5-year low.

Selling in metal, IT, oil & gas, capital goods, banking, consumer durables, auto, PSU and FMCG stocks, dragged the down the Sensex which dipped below the 27,000-mark. There was, however, buying in healthcare stocks such Cipla and Dr Reddy.

The 30-share BSE Sensex today opened in negative terrain and quickly dipped below 27,000-mark reacting to Friday's data that showed IIP growth slowed to four-month low in July.

The index finally settled down by 244.48 points, or 0.90 per cent, at 26,816.56, its weakest closing since August 28. The 244.48-point loss is Sensex's worst drop since August 8.

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