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Nifty may move in 4,640-4,900 band
In a week marked by high volatility, markets corrected sharply only to bounce back with greater strength. Last week, it was mentioned that the markets might stage a July-like recovery amid high volatility. Although, markets have bounced back sharply, chances of a full recovery look remote currently. Going forward, one needs to watch the 15,530-15,640 zone for the Sensex as crucial for the current upmove to remain intact. As and when it comes below this level, the index is likely to test its long-term support of 14,800.

Markets succumb to weak Asian cues
The markets extended the previous day"s losses, mirroring the weakness in the US and across Asia. The Sensex ended at 16,719, weaker by 174 points and the Nifty closed below the psychological mark of 5k at 4,987, lower by 54 points. Realty, energy and bank stocks were the major draggers.

News of the day

Wockhardt gets award for patents
Drug maker Wockhardt today said it has been chosen as the pharmaceutical company for the maximum number of patent filings and grants from India.
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Another lacklustre day

The Indian bourses continue to trade flat. The Sensex is now at 17,600, down 15 points. - Kalpataru Power advances on winning orders - Aarti drugs up on capex plans - Ashok Leyland gains on Dec sales jump - Sensex up marginally in early trades - F&O OUTLOOOK: Trading indicates fresh declines in near future - FIIs net sellers Rs 1,209cr in F&O on Thursday The NSE Nifty is at 5,261, down one point. ____________________________________ (Updated at 1023hrs) Weakness has persisted in the Indian markets. The Sensex slipped further to a low of 17,578 within the first hour of trade. The index is now down 23 points at 17,593. The Nifty is unchanged at 5,262. Sun Pharma has jumped 3.6% at Rs 1,598. DLF and Tata Motors have added 2% each to Rs 382 and Rs 802, respectively. Jaiprakash Associates and Grasim are up 2% each. Other stocks which have gained are NTPC, Larsen & Toubro and ACC. However, Hero Honda has extended losses and is now down 2% at Rs 1,619. Infosys and Maruti Suzuki have dropped 1.5% each to Rs 2,488 and Rs 1,433, respectively. Sterlite has slipped 1.3% to Rs 904. TCS, HDFC, Wipro and ICICI Bank are also down.


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