Intraday 15-02-07 on mehtastock1

Mehta Stock(~Back Up Id~) (2/15/2007 11:19:22 AM): RIL day high again. If goes above 1400/= we can easily see 1410
Mehta Stock(~Back Up Id~) (2/15/2007 11:31:47 AM): Market can come down to 14200 before going up may be But likely close above 14320. As RIL would be the main mover now 1402/= Reco in morning buy.
Mehta Stock(~Back Up Id~) (2/15/2007 12:47:18 PM): 1/= buck for KS Oil in upper circuit. PSTL strong buyers at upper circuit rest of stocks ran allready as u can see...From last three days i had always said buy or buy at declines not to mention the good profits we have made and those who didnt NO WORRY but those who shorted really TAKE CARE SORRY for you. On 13 mentione Garnet con which had gone well in uppercircuit, SBI had firedby more then 10/=, ZEE NEWS and DCB went up to 4-5% from lows of -1%

Yesterday almost all stocks performed except PSTL which as you can see is in circuit.

Today well catch me if you can market Now +298 points.
Mehta Stock(~Back Up Id~) (2/15/2007 12:57:45 PM): Inflation Rate: 6.73% vs 6.58 % Market can crack now.
Mehta Stock(~Back Up Id~) (2/15/2007 12:58:33 PM): Lets see Though...RIL important mover.
Mehta Stock(~Back Up Id~) (2/15/2007 1:08:47 PM): KS Oil 10000 buyers at 292.30/=.
Mehta Stock(~Back Up Id~) (2/15/2007 1:16:50 PM): RIL, Infosys, ONGC sabke daddy strongest...
Mehta Stock(~Back Up Id~) (2/15/2007 1:22:21 PM): Shanghai Composite 2,993.01 2:00AM ET 87.92 (3.03%)

Hang Seng 20,549.61 1:50AM ET 339.70 (1.68%)

Jakarta Composite 1,789.29 2:51AM ET 38.31 (2.19%)

Straits Times 3,230.21 2:51AM ET 48.00 (1.51%)

Taiwan Weighted 7,809.45 Feb 14 72.62 (0.94%)

KLSE Composite 1,257.16 2:51AM ET 11.52 (0.92%)

Nikkei 225 17,897.23 2:00AM ET 144.59 (0.81%)
Mehta Stock(~Back Up Id~) (2/15/2007 1:23:20 PM): Sorry and...

BSE 30 14,277.42 2:53AM ET 267.52 (1.91%) ---India.
Mehta Stock(~Back Up Id~) (2/15/2007 1:27:45 PM): Gold was within sight of its best level in seven months and could test a new high with the help of a volatile U.S. dollar.

Mehta Stock(~Back Up Id~) (2/15/2007 1:35:57 PM): Firing all cylinders now....+302. All A-grade stocks running..who had varified Inflation after all?
Mehta Stock(~Back Up Id~) (2/15/2007 1:50:20 PM): Lets see some interesting points....
Harshad Mehta Scam in 1992,
Mehta Stock(~Back Up Id~) (2/15/2007 1:50:42 PM): Ketan Parekh in 2000,

Who will be there in 2008-2009
Mehta Stock(~Back Up Id~) (2/15/2007 1:54:07 PM): Some say Rakesh Jhunjunwala ...some one wants P Chidambaram, someone want themself to be involved in scam...and some also take my name...well that surely mean we will see some scam
Mehta Stock(~Back Up Id~) (2/15/2007 1:58:29 PM): Ranbaxy chief arrested in USA just news do varify.
Mehta Stock(~Back Up Id~) (2/15/2007 2:19:21 PM): Terrorists are not only getting tech-friendly but market-savvy as well. A good part of terror funds is being sourced from manipulation of the bourses, particularly the Mumbai and Chennai stock exchanges, through fictitious or notional companies, according to national security adviser M K Narayanan.


Who all involved in this? Atleast SEBI promises of no SCAM....but can we say same with confidence with our beloved Ministers at the TOP of chain?

Mehta Stock(~Back Up Id~) (2/15/2007 2:50:34 PM): Petrol price cut are did anyone has news for LPG? My car runs on L.P.G
Mehta Stock(~Back Up Id~) (2/15/2007 2:54:49 PM): Panama recommending from 120 made high of 170 and came down to 139 few days ago today again 150/= up 7% wait for next three months for bumper profits in this one.
Mehta Stock(~Back Up Id~) (2/15/2007 2:57:46 PM): IBULL
Mehta Stock(~Back Up Id~) (2/15/2007 3:02:32 PM): +310
Mehta Stock(~Back Up Id~) (2/15/2007 3:05:23 PM): Sensex +320
Mehta Stock(~Back Up Id~) (2/15/2007 3:06:47 PM): Sensex +330 ==**
Mehta Stock(~Back Up Id~) (2/15/2007 3:12:22 PM): Sensex +350 almost ==**
Mehta Stock(~Back Up Id~) (2/15/2007 3:16:00 PM): Many of yesterday's call in circuit like UNITECH, PSTL, Garnet etcccc..and above 10% many above 5% well lets think of scam now
Mehta Stock(~Back Up Id~) (2/15/2007 3:18:26 PM): +350 ==** RIL 1408 ==**
Mehta Stock(~Back Up Id~) (2/15/2007 3:21:02 PM): RIL on dot 1410 ==**

Chornologicals of SCAM-2008 ???

Articles Awaited.....Just a humour. Hope History Does Not Repeat Itself.

Terrorists are not only getting tech-friendly but market-savvy as well. A good part of terror funds is being sourced from manipulation of the bourses, particularly the Mumbai and Chennai stock exchanges, through fictitious or notional companies, according to national security adviser M K Narayanan.

The NSA, who made this revelation during his address to the 43rd conference on security policy held last week in Munich, said many of the fictitious companies found to be engaging in stock market operations were traced to terrorist groups.

“Isolated instances of terrorist outfits manipulating the stock markets to raise funds for their operations have been reported. Stock exchanges in Mumbai and Chennai have, on occasions, reported that fictitious or notional companies were engaging in stock market operations,” news agencies here quoted Mr Narayanan as having told his counterparts in Munich.

Also expressing deep concern at the transfer of terror funds through valid banking channels from Dubai and UAE for use by groups like Jaish e Mohammad and Hizbul Mujahideen, Mr Narayanan stressed on the need to lift banking secrecy and the corporate veil to facilitate proper investigation of terror-related cases.

Terrorist groups, he said, generally make small transactions to avoid detection. “Use of both real and fraudulent ATM cards has also been resorted to at times,” he added. “Security agencies have detected many instances of funds received via banking channels from so-called safe locations like Dubai and UAE that were intended for terrorist groups,” he noted.

Squarely blaming certain “official agencies” in Pakistan for pumping millions of dollars for militancy in India, he said jehadi groups had started to establish a network of legitimate businesses to fund their activities. The terrorist groups are involved in legally running restaurants, real estate agencies and shipping firms and use their proceeds for their terrorist activities.

“Among terrorist outfits,” said Mr Narayanan, “the LTTE has a very well-established network of legitimate business, which provides both funds as well as logistics for their activities. Jehadi terrorist organisations have begun to follow suit.”

He said a combination of conventional money laundering techniques, including routing money through hawala channels, has made it extremely difficult to track funds utilised for terrorist purposes since no audit or paper trail is available.

Referring to 11 common ways of terrorist funding, the NSA said among them were voluntary contributions, on which terrorist groups like Al Qaeda and LTTE thrive, and compulsory donations including forcible subscription to their publications.

“A tentative estimate of funds made available to such terrorist outfits annually is in the region of a few million dollars,” he said. According to Mr Narayanan, the jehadi and non-jehadi groups often tie up with organised criminal syndicates for fund-raising through kidnappings and bank robberies.

Counterfeiting of currency is another method adopted (by agencies across the border) to fund terrorist activities directed against India, with Nepal and Bangladesh being the twin routes.

Ketan Parekh SCAM-2000

Rumours of an income tax raid on Ketan Parekh resulted in the stockmarket getting smashed on January 11, 2000. The Sensex fell 222 points. Eventually, it turned out to be an income tax survey that found Rs 92 crore (Rs 920 million) of undisclosed money. Parekh paid an advance tax of Rs 13 crore (Rs 130 million) and all is well; at least for the time being.
This isn't the first time that the Sensex fell on "Parekh rumours". The rumours that have come and gone have included Parekh in a payment crises (this has happened several times), various bulls and bears tussles with Parekh and a rumour that rediff.com columnist Sucheta Dalal was planning to expose a scam in the next day's newspaper. The result is always the same: the market gets smashed, a panic follows, small operators and day traders are forced to exit from their positions (they normally exit from long positions at the slightest hint of a problem), some big operators (who know the truth) buy stocks at bargain prices and subsequently pull the market up rapidly.
And these are not all of the Parekh rumours. The market loves discussing him. The Sensex does get linked to Parekh's acquisitions of a jet (false) and a new car (true). Day traders also monitor Parekh's travel plans and keep a track on his business meetings and holidays abroad. And, of course, Mumbai's 'Party of the Millennium' was Parekh's bash at Mandwa across the city's waterfront.
Show of strength
Who is this man who can cause the Sensex to tumble? Ketan Parekh came into prominence only these last two years, and has since built a solid reputation and substantial wealth. He makes day traders feel ecstasy and paranoia. "KP's in it," is often the only reason to buy a stock. His killings in Zee Telefilms, Pentafour Software and Ranbaxy are legendary.
What he can do to a stock is evident from three examples. He bought into a small software company Aftek Infosys at Rs 30, 40 levels about a year ago and there hasn't been any looking back for the stock since then. It now trades at Rs 2,400 levels. The company is expected to grow at a fantastic pace and the stock has entered many a mutual fund portfolio. But Parekh was there first.
Pentafour was another case. In June 1998, the stock was hammered to half the price in a few days on bad publicity. Parekh entered and pulled it up, also selling the idea to most fund managers. The company performed well thereafter.
Ranbaxy was different. KP's reputation was strengthened further with this stock. It was a unique case as the participation of smaller traders/investors was high. The company was changing and was on the last leg of developing a new drug delivery system in mid-1999. The stock had risen from Rs 500 to Rs 750 and declined back to Rs 550 from April to June 1999. This was one story where every BSE liftman and panwallah around Dalal Street made money as the stock scaled a high of Rs 1,264.
After the Ranbaxy killing, the bull trained his guns on Global Tele-Systems and Himachal Futuristic. Both stocks are up five times since their August 1999 levels. By now, Parekh had leader status and the crowd bought shares in which he was interested.
Who is KP?
India's two major business newspapers call him the Pentafour Bull and the One Man Army in their market gossip columns. The market, with its fancy to cut redundancy, calls him KP or associates him with his firm NH Securities.
Not much is known about the man. But a recluse he isn't. He meets people, including the press. But there is one cardinal rule: No pictures, please. We suppose he takes the Wall Street wisdom too seriously -- get your picture on the cover of BusinessWeek or Fortune and the end is near. And Ketan Parekh obviously doesn't want to retire early.
This chartered accountant by training is a down-to-earth man with an extremely sharp mind. Ask him how the market is and don't be surprised by a J P Morgan-type answer, "It will fluctuate." If you know him well, he will give you a tip too. If you are strong-hearted, you buy the share and forget it for a while. You will see some really wild swings, but in the end you will make big money.
His market style and personality are often compared to Big Bull Harshad Mehta. But there are some stark differences.
First, Mehta was a poor man's son. Ketan isn't. His family has been into stockbroking for some time, and he is related to many big brokers.
Second, Harshad operated in a closed-but-liberalising market and with other people's money (as it transpired later) as the last recourse. Parekh works in a more mature market with electronic trading, higher volumes and a stronger institutional environment.
Stories have to be created and sold aggressively to institutional investors for everybody to make money, which Parekh has done successfully. Unlike Mehta's aggressive publicity campaigns, Parekh is silent.
What are his stocks?
He picks out-of-favour stocks that are expected to grow rapidly. These are also companies that investors think lowly of or have doubts about the business, accounting standards and management. He was the first to see the software boom spreading over to second-rung software companies in 1998. His first killing came in Pentafour which had been consciously avoided by most institutional investors. Parekh came and sold them a solid growth story and the rest is history.
Ranbaxy had moved in a narrow trading range for five years. There were pending warrant conversions and institutional investors feared that the management came and sold at higher levels. Parekh spotted the change in management and the company's new drug discovery system becoming successful. He sold this story again and reaped a rich harvest.
Global, Himachal and DSQ Software will not fit in the universe of an institutional investor, but for Parekh's presence. The country's largest mutual fund, UTI's Unit Scheme-64, had Himachal Futuristic (1.48 per cent of the portfolio), Ranbaxy (1.39 per cent), Pentafour (1.35 per cent) and Global Tele-Systems (1.05 per cent) on September 30, 1999.
Parekh is also one of the few brokers who understands the power of online trading. Most operators work through a large team of trusted dealers and jobbers. (Word should not spread that he is buying or he would not be able to acquire enough shares.) An operator would also need to indulge in buy and sell orders so that his dealers remain quite confused on whether he is in or getting out.
Every big broker has enough enemies. These are the people he has crossed or the people who crossed him on his way to the top. Alleges one of his adversaries, "Most of these rumours are spread by the KP gang so that they get to smash prices, enter at lower levels and then pull the market up."
Does he always succeed? There are two ways of judging this. One is the level that a stock reaches and then declines. BPL is a good example. The stock went to Rs 600 levels; it is currently at Rs 270 levels. That has happened in many companies. The other is of a stock just not moving up after he buys it -- that happened in MTNL some time ago when it would find some new seller to stanch the stock's rise. This is an aberration when you compare stocks like Aftek, Himachal, Global, Zee and Pentafour which are on a continuous upswing and an investor getting in at any point will be in the money.
KP travels a lot and meets company managements regularly. He likes buying a substantial stake in relatively smaller companies by a private placement (like in Aftek) and then waits for other players to catch his fancy. He has also bought a stake in many unlisted companies. As is the way of the world today, he is building a nice portfolio of Internet start-ups too.
He is big for the market and getting bigger. But investors and speculators are not complaining. Nor are institutional investors and the government unhappy. The current level of the Sensex and the hope in every eye near an online terminal of ten-baggers are this man's doing, at least to some extent.

Harshad Mehta Scam-1992.

In the wee hours of December 31, just before the year 2001 came to a close, Harshad Mehta passed away in a jail in suburban Mumbai. It was a tragic and unceremonious end to the man who was the first broker to become a mega-star of the Indian capital markets and fire the greed and imagination of every middle class Indian in the early 1990s.

He promised the ultimate rags to riches story -- from the small town Raipur boy who was once rusticated from school to Sultan of Dalal Street with all the trappings of wealth such as a fabulous house, a fleet of cars and multiple stock exchange memberships.

Charismatic, ebullient and recklessly ambitious, Harshad Mehta set out to be a role model for investors. "I thought I'd be like Pied Pier", he had told a newspaper in 1992, "I thought I can sell dreams... that asset-creation is not a crime, that if you wanted to be Harshad Mehta come to the stock market".

In June 1992, when he was released after 107 days in custody, he told me "Congratulations, you have broken the story of the decade". That was Harshad again - willing to revel even in negative publicity. He made a triumphant exit from court, a la Laloo Yadav's recent jail yatra, amidst a mob of cheering and slogan-shouting investors, who wanted him back in the market, igniting another never-ending bull run.

Instead, his disdain for the means the he employed to achieve his mega ambition, left behind a shattered dream and a tarnished image. He ended his days in judicial custody, and will forever be known as the main architect of the Rs 50-billion scam - India's biggest securities scandal.

Instead of fawning epithets such as the Big Bull, or the Amitabh Bachchan / Einstein of the market that were showered on him by his investor fans, he ended his days as a tired scamster, who could not stop trying to pull off the same old quick money schemes.

For a few months after the scam, it almost seemed as though Harshad and his brother Ashwin would remain at center-stage and dominate events. Within weeks after his release he was hogging headlines as the first man ever to claim that he had bribed a sitting Prime Minister. That too was done in typical Harshad fashion - press conferences at the Taj and the Oberoi, high profile lawyers, an editor-turned-MP acting as emcee, the release of audiotapes and the bizarre demonstration of Rs 10 million being stuffed into a large suitcase.

That too fizzled out, with the Mehta brothers perjuring themselves. However, they clearly got themselves a deal to avoid further harassment by other government agencies in charge of money laundering and such offences. Did the aftermath of the investigation change Harshad's attitude to business? No way.

Almost every year after 1992, Harshad Mehta has never ceased to attempt a comeback. The problem was that he never changed his formula. He failed to realize that his old magic was not working with investors anymore. At least nowhere near enough to move the market. If the Central Bureau of Investigation is to be believed, Harshad was also continuously funding himself by selling part of his 1992 stock portfolio, which he had not declared to the Custodian appointed by government. In fact, it is the sale of these benami shares (shares that were held in street names when he and 19 other entities were notified by the Custodian and their assets impounded) that had put him back in police custody at the time of his death.

Harshad's problem has always been his flashiness. In 1992, when I broke the story about the Rs 6 billion that he had swiped from the State Bank of India, it was his visits to the bank's headquarters in a flashy Toyota Lexus that was the tip off. Those days, the Lexus had just been launched in the international market and importing it cost a neat package.

Even before that he was featured in a video newsmagazine feeding peanuts to bears at a Mumbai zoo to symbolize his victory over the bear-cartel in the stock market.

In fact, for weeks after the scam, he was convinced that he would never have been caught but for the bear cartel.

1997 saw Harshad Mehta making another big comeback attempt. This time as a new age stock market guru. He was among the first to set up his own website to dispense tips. He had also built up a network of senior media managers who gave him the publicity and commissioned him as a columnist.

He also had powerful friends at the helm of the Bombay Stock Exchange with close connections to the regulator. Some of the largest newspapers in the country, including the Times of India where I first wrote the story of the securities scam, were convinced that a Harshad Mehta column was sure to send circulation figures soaring.

Typically, Harshad did not stop at dispensing tips. He had struck a deal to ramp up the prices of several stocks - among these were BPL, Videocon and Sterlite. He had managed to build up quite a speculative bubble and was again the cynosure of investor attention when India's nuclear tests caused a sudden collapse in prices and his bubble burst.

Brokers who operated for Harshad Mehta were then infamously bailed out at the behest of the Bombay Stock Exchange authorities by opening the trading system in the middle of the night to insert synchronized trades at manipulated prices.

Investigations by the Securities and Exchange Board of India have revealed that Harshad had set up an entire network of investment companies, known as the Damayanti Group to front his market operations. That investigation led to SEBI imposing a lifetime bar against him (he had filed an appeal against the SEBI order).

It is a pity that Harshad's eternal optimism and furious stream of get-rich ideas were never channeled to more productive use.

When the end came, he had a score of cases filed under different stages of trial and one conviction by the Special Court in the Maruti Udyog case. But the last decade had certainly taken its toll. The sunny optimism and good cheer, was replaced by a more pensive and tired visage.

He not only looked defeated but sources close to him say that he was steadily running out of funds. Most of this was probably due to the realisation that with one conviction by the Special Court and another by SEBI, his dreams of coming back to the capital market had ended forever. Now it is truly over.

Intraday Buy For 15-02-07.

Buy:

Reliance Ind,

GACL,

GMR Infra,

Mahindra GESCO,

Praj Ind,

Nagarjuna Fert,

IBULLS,

Alstom Proj,

Bayer.

Regards,
Bhavin.

Active Bears Caught--Just a GAME of BULLS.

As seen for past three years when round of selling goes we start thinking like "THERE IS NO TOMORROW". Many people have shorted heavily even when market i.e. sensex was down by more then 200 points instead of buying. However people if think this as a huge correction should start booking profits as correction was something that we saw in May and not this with such reliefs. Even today one can buy A-grade stocks which are at discounts due to the fall we seen in last few days. However I doubt how many people would get any stocks in the morning at cheap rates like yesterday. My Intraday Buy list will follow soon. However I think we can see upper circuit being hit in some of the overran stocks like PSTL(Reco at 200/=), KS OIL(Reco at 167/= though can decline some more not to forget Goldman buying 320000 shares at 313/= few days ago.) and many others.

Regards,
Bhavin.

Intraday 14-02-07.

One can buy any stocks today on downfall as on chart sensex and other stocks are all on support. So we can see a healthy upmove after initial fall due to CRR rate hikes. World market are also showing positive signs.

Buying can be considered in Bombay Dye, Century Tex, Autiline Ind, Alstom Proj, Sobha, PSTL, NDTV, Nagar Cons, IFCI, IVRCL Infr, Crompton Grea, GACL, Tech Mah, Tata Motors all at downfalls.

Regards,
Bhavin.

Microsoft 2000- Hindi!!

Windows 2000 in Hindi
Bill Gates announced that Microsoft plans to release a windows version in Hindi. Here are some Windows related terms that are proposed to be used in the Hindi version of Khidkiyan 'DoHazar (Windows 2000)

Keywords:

1. Phaail = File

2. Bachao = Save

3. Aise Bachao = Save as

4. Subko Bachao = Save All

5. Mujhe Bachao = Help

6. Dhoondo = Find

7. Firse Dhoondo = Find Again

8. Hilao = Move

9. Dak = Mail

10. Dakiya = Mailer

11. Paas se dhekho = Zoom

12. Dhoor se dhekho = Zoom Out

13. Kholo = Open

14. Bandh Karo = Close

15. Naya = New

16. Purana/Khatara = Old

17. Badli Karo = Replace

18. Bhaago = Run

19. Chaapo = Print

20. Dekh Ke Chaapo = Print Preview

21. Nakal Utaaro/Kaapi =Copy

22. Kaato = Cut

23. Chipkao = Paste

24. Payshal Chipkao = Paste Special

25. Goli Maaro = Delete

26. Nazaara = View

27. Hatyaar = Tools

28. Hatyaar Khamba = Toolbar

29. Khuli Chaadar = Spreadsheet

30. Kalti Maaro = Exit

31. Ped = Tree

32. Thooso = Compress

33. Chooha = mouse

34. Tik Karo = Click

35. Tik-Tik Karo = Double Click

36. Idhar-se-Udhar - Forward

37. khamba= Scrollbar


Alerts:

1. MICROSOFT WINDOWS 2000 -
ATISUKSHMA MULAYAM (microsoft) KHIDKIYAAN (windows) AVRUTTI (version)
DOHAZAR (2000)"

2. Double Click with the left mouse button-
Chuhe ke baye kaan ko zatpat do baar marodkar
'tadak-tadak'=(clik-click) kariye

3. GPF(GENERAL PROTECTION FAULT) -
Sarvasaadharan Suraksha Mein Gadbad

4. 'This program has performed an illegal operation "Abort, Retry or
Ignore? "
Is karyakram ne gairkanooni kaam kiya hai - zatak se bandkaro
(abort),Koshish karte raho/Hum honge Kamyaab (retry), Goli Maro
(Ignore)"

5. MS POWERPOINT - "AtiSukshma Mulayam ShaktiBindu"

6. MS WORD 6.0 - "AtiSukshma Mulayam Shabda Cheh"

7. ACCESS - "PRAVESH KI SAMMATI"

8. FOXPRO - "Lombdigiri (Lomiree) mein Maahir"

9. VISUAL C++ - "Nazaaraa C adhik hi adhik"

10. OFFICE 2000 - "Karyalaya 2000 mein"

Intraday 13-02-2007.

Buy:

Garnet Construction in 69-70/= range(B2 Group. Even Delivery can be considered.)

DCB around 65-66/= range.

SBI around 1155-1161/= range.

Zee News around 33.50-34/= range.


Selling can be seen in Cambridge Tech, Financial Tech, Paramount commu, IDBI, IFCI, Ibulls, BEML, BEL, HDFC, Polaris and others specially in morning. Market can see dip in morning so watch out on downfall and enter only delivery scripts. Be cautious. Current downfall can continue till tomorrow likely. Expect somepullback rally in afternoon trades.

Market Morning- HDFC SEC.

The US markets continued there declines albeit on a smaller scale, DowJones was down 28 and the Nasdaq fell by 10 points overnight. The Brazilian index also fell 0.80% and all the European markets were down between 0.5 to 1.2%. The Asian markets have though opened on a positive note with the Nikkei trading 110 points higher. Crude oil fell $2.08 to 57.81, Gold was down $5 at 667.30 and Copper closed 2% lower.

Closer at home the Bulls were taken by surprise as some heavy selling saw the Sensex loose 350 points on a closing basis. the Sensex hit an intra-day low of 14146 and finally closed at 14190. The Nifty also lost 129 points to close at 4058.

All Sectoral indices ended lower in line with the overall markets, the biggest looser was the BSE Capital goods index which finished 5.17% lower. The least hit was BSE-FMCG index which lost 0.93%. Other indices were as follows: BSE Auto(3.41%), BSE Bankex(2.61%), BSE Consumer Durables (3.80%), BSE Healthcare (2.58%), BSE IT(1.01%), BSE Metals (5.46%), BSE Oil&Gas (2.33%) and BSE PSU index closed 2.87% lower.
Orient Bank(1.20%), Hero Honda (0.98%), Tata Power(0.36%) and HLL (0.32%) were the only stocks amongst the Nifty pack closing in the green. Amongst the top loosers were Hindalco(14.13%), Suzlon(13.25%), VSNL(10.11%) and MTNL (8.72%). Amongst the other stocks Century Textile (11.76%), LITL(11.56%), IDBI(11.10%) and Parsavnath (11%) were the major loosers, There were a very few winners in the markets today and they included Pioneer Emb(7.88%), TV Today(5.27%) and Financial Technologies(3.28%).

Advance-Decline ratio stood at 1:16, with the declines outnumbering the declines. The NSE recorded volumes of Rs.8900crores in the cash segment and Rs.40000 crores in the FnO segment. FIIs were buyers to the tune of 275crores on Friday in the Cash market and the mutual funds sold stocks worth 191 crores.

The next support comes in at 3970 for the Nifty from where a sharp pullback could be expected. On the upside 4115-4130 will remain stiff areas to get past.