Sensex & Nifty tank: Analysts take on where the markets are headed

	Dated:22 September,2011

Black Thursday: Sensex plunges by 704 points According to analysts, more correction is expected in the market and any bounce back of rally should be used to go short. Sensex & Nifty tank: Analysts take on where the markets are headed Indian markets fell, taking cues from week global peers and after the US Federal Reserve said there were "significant downside risks" to the US economy. US may face a recession like that in Japan: Bill Belchere, Mirae Asset As we can see over the last couple of weeks, the consensus is moving towards a recession in the US and in Europe as well, says Bill Belchere, Mirae Asset. Market Round-up SENSEX 16361.15 -704.00 NIFTY 4923.65 -209.60 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Mirza International Ltd. 21.75 + 19.51 Logix Microsystems Ltd. 16.30 + 19.41 Astral Poly Technik Ltd. 217.45 + 19.09 Raj Oil Mills Ltd. 23.40 + 9.86 Farmax India Ltd. 2.70 + 8.00 NSE Losers Scrip Price(Rs.) %Change Nitin Fire Protection Ind 43.65 -68.55 Andhra Pradesh Paper Mill 308.85 -15.94 NRC Ltd. 3.95 -14.13 Manjeera Constructions Lt 84.85 -12.48 Sanghi Polyesters Ltd. 1.45 -12.12 Views on Stocks/Markets Zee Entertainment a good short sell: Deepak Mohoni Indiabulls Real Estate looks weak: Mitesh Thacker Sell Polaris Software Lab: Ashwani Gujral IPO/Global Markets World stocks nosedive European shares plunge Asia stocks dive Rupee / Gold Gold down nearly 1 pc Rupee slides to 26-th low Gold weakens on dollar rally More 'Market' News Gravita India touches 52-week high on stake buy Shares of Gravita India Ltd bounced back from their lows after the company said it has acquired the balance 20% stake in Metal Inc. Astral Poly Technik hits all-time high on BSE Shares of Astral surged by over 19% to a lifetime high on the BSE today after Lubrizol Corp said it will set up a manufacturing plant in Gujarat . Videocon soars over 3 per cent on oil, gas discovery in Brazil Shares of Videocon surged by over 3 per cent in morning trade on the bourses today after the company announced an oil and gas discovery in Brazil.