The Economic Times Markets Watch Newsletter

	Dated:08 February,2011

Top Headlines Sensex at 7-month closing low; Punj Lloyd slumps Markets dropped 1.5% to their lowest close in seven months, as rising borrowing costs and high inflation drove investors to cut their exposure. BSE escalates price war with rival NSE Taking its price war with main rival NSE up a notch, BSE has announced the waiver of all transaction charges for brokers from semi-urban areas. Let market stabilise before getting into midcap space: Sandeep Bhatia Executive Director & Head of Sales, Kotak Institutional Equities, Sandeep Bhatia, sees strong volume growth coming in IT and banking sector. Views on Stocks/Markets Do not touch railway counters: Sudarshan Sukhani ONGC offers good margins of safety: Angel Broking Buy ABG Shipyard for gains in 1-3 days: Sudarshan Sukhani IPO/Global Markets IIFCL announces infra bond issue European shares fall in selloff China raises interest rates by 25 bps Rupee / Gold Indian rupee at near 1-mth peak Gold a tad higher; buying slow Weddings spur gold buying More 'Market' News Nifty support likely to come near 5200 level The Nifty closed at 5396, a gain of one point from the previous low and added a whopping 68 lakh shares after the January contract expiry. Real estate cos' shares down; Unitech down 5% Real estate developers were trading lower as investors continued to cut exposure on concerns of increasing interest rates and rising input cost. Steel cos down on weak ArcelorMittal earnings Shares of major steel manufacturers were trading negative after the world's largest steel maker ArcelorMittal SA reported a loss for the December quarter.

Market Round-up SENSEX 17775.70 -261.49 NIFTY 5312.55 -83.45 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Goldstone Technologies Lt 9.05 + 11.73 Pioneer Distilleries Ltd. 81.50 + 8.52 Pitti Laminations Ltd. 36.30 + 7.72 Malu Paper Mills Ltd. 13.45 + 7.60 Nava Bharat Ventures Ltd. 266.65 + 6.57 NSE Losers Scrip Price(Rs.) %Change Oil And Natural Gas Corpo 282.05 -76.39 Den Networks Ltd. 113.10 -19.99 Lanco Infratech Ltd. 38.00 -17.93 Evinix Industries Ltd. 1.10 -15.38 UB Engineering Ltd. 97.45 -14.33