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Equity benchmarks saw a free-fall on Monday and kicked off the second week of 2011 on a bearish note, dragged down by sectors like capital goods, oil & gas, financial, metal and realty ahead of earning season for the quarter ended December 2010. The Nifty extended losses for fifth consecutive session and touched one-month low during the day; shed 395 points while the Sensex dropped 1340 points in five days.

Contraction in companies' margins due to rise in commodities' prices, soaring inflation and likely rate hike by RBI to contain inflation were the main reasons behind this sell-off, say experts.

Rajat Rajgharia of Motilal Oswal Securities expects the markets to go down from current levels.

“A lot of the core India stories, which are the domestic stocks, right from banks, autos, cement, infrastructure, engineering, may see downgrade in earnings, if these trends were to persist,”

The 30-share BSE Sensex closed at 19,224, down 467 points and the 50-share NSE Nifty plunged 142 points to 5,763
.



SOYBEAN (FEBRUARY) : R2: 2463 R1: 2430 S2: 2315 S1: 2355 Sell on higher levels


TURMERIC (APRIL): R2: 10390 R1: 10190 S2: 9620 S1: 9815 Buy on lower levels


GUARSEED (JANUARY) : R2:2531 R1: 2492 S2: 2372 S1: 2415 Sell on higher levels


CHANA (JANUARY) : R2: 2645 R1: 2590 S2: 2460 S1: 2500 Buy on lower levels


JEERA (JANUARY) : R2: 14923 R1: 14637 S2: 13825 S1: 14100 Sell on higher levels


PEPPER (JANUARY) : R2: 23600 R1: 23230 S2: 22040 S1: 22440 Sell on higher levels


GUR (MARCH) : R2: 1049 R1 1030 S2 973 S1 992 Sell on higher levels


MUSTARDSEED (JANUARY) : R2: 578 R1: 567 S2: 539 S1: 550 Sell on higher levels


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Indian markets ended range-bound session on positive note on the first day of new calendar year. Metals, banks and power stocks led the rally while auto, IT and oil&gas space ended in the red.

Bombay Stock Exchange’s Sensex ended at 20564.92, up 55.83 points or 0.27 per cent. The 30-share index touched a high of 20664.80 and low of 20531 in today’s trade.

National Stock Exchange’s Nifty closed at 6153.55, up 19.05 points or 0.31 per cent. The broader index touched a high of 6178.55 and low of 6147.20 intraday.

BSE Midcap Index was up 0.93 per cent and BSE Smallcap Index rose 1.83 per cent.
Nouveau Multimedia will hold board meeting on January 07 to consider the raising of funds to carry out business expansion activities.

The scrip was at Rs 184.45, up 4.80 per cent on the BSE. It touched a high of Rs 184.50 and low of Rs 176 in trade so far.

Tantia Constructions has bagged a project from the Municipal Corporation of Gwalior worth Rs. 26 crores.

The stock was at Rs 85.65, up 2.39 per cent on the NSE. It touched a high of Rs 86.35 and low of Rs 83.75 in trade so far.

Elder Pharmaceuticals has received accreditation from Ministry of Health-Japan for its API plant at Patalganga, Maharashtra. The pharmaceutical market valued at $69.4 billion in 2009, the company said.

The stock was at Rs 377.95, up 0.79 per cent on the NSE. It touched a high of Rs 384 and low of Rs 368 in trade so far on volume of 38075 shares.

The railway business unit of Larsen & Toubro has secured orders aggregating Rs 1103 crore from various power plant developers from the construction of ‘Merry Go Round” systems and construction of dedicated railway lines to link power plant sites to the main line rail network.

The stock was flat at Rs 1984.30 on the BSE. It touched a high of Rs 1997 and low of Rs 1970.85 in trade so far on volume of 59,000 shares.

Bajaj Auto has announced that it has achieved “best December sales ever for Bajaj Auto.” The auto-major’s total sales rose to 276803 units, a 10 per cent growth, as compared to 252004 units corresponding period a year ago.

Meanwhile, the scrip was witnessing profit booking at higher levels. It was at Rs 1500, down 2.69 per cent on the BSE. It touched a high of Rs 1564.95 and low of Rs 1493.20 intraday.

T ata Power has terminated agreement to raise $300 million through selling 14-15 per cent stake in its two coal SPVs to the private equity firm Olympus Capital Holdings Asia.

The stock was at Rs 1378.05, up 0.92 per cent on the NSE. It touched a high of Rs 1384 and low of Rs 1370.35 on volume of 77980 shares.