1. MARKET WRAP
26.03.2012
Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 I
BSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
2. The markets opened on a negative note tracking Asian peers
and then moved down with a negative bias throughout the day.
It touched the lowest point of the day in the last hour of trade
and closed near to it.
Sentiment turned negative as investors were confused on the
new General Anti Avoidance Rule included in the Finance Act
in the budget. The New rules give the taxman the authority to
go deeper into transactions entered particularly for avoiding tax
and would see companies end up spilling more for tax.
Abcdefghi…
Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 I
BSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
3. There was tremendous selling in realty stocks especially those
having assets in Mumbai on reports that Maharashtra
government may hike the stamp duty by 160 times for leave and
license agreements for residential and commercial properties.
Stocks like HDIL, DB realty etc crashed considerably today as
they are the worst affected.
On the sectoral front, there was selling in
realty, power, banking, metal and PSU leaving no one on the
losers’ side. The market breadth, indicating the overall health of
the market, was weak. We may see a bounce back early in trade
tomorrow but overall trend remains weak. Volatility is expected
to rise as we are nearing the March F&O expiry.
Abcdefghi…
Geojit BNP Paribas Financial Services Ltd., Registered Office: 5th Floor, Finance Tower, Kaloor, Kochi -682017, Kerala. For investor queries: customercare@geojit.com, For grievances: grievances@geojit.com | SEBI Regn. Nos.: NSE: INB/INF/INE 231337230 I
BSE: INB 011337236 & INF 011337237 INSDL: IN-DP-NSDL-24-97 I Portfolio Manager: INP 000003203 I CDSL Regn no: IN-DP-CDSL-648-2012
