Markets recorded their single-largest fall since August
1 after weaker-than-expected
business activity in the euro zone and
a survey which showed rise in unemployment
levels in China raised
concerns that global economic growth is still struggling. Selling
by
foreign funds also weighed on market sentiment.
The 30-share Sensex
ended down
431 points at 26,776 and 50-share NIfty ended down 129
points at 8,018.European
shares were trading sharply lower after a
private survey showed that business activity
in the euro zone
comprising of 18 countries in September dropped to a nine-month
low
at 52.3 in September compared to 52.5 in August, raising concerns
that the
economy in the continent continues to struggle.
The CAC-40,
DAX and FTSE-100 were
down 1-1.6% each.Oil and gas stocks, IT
exporters and Bank shareswitnessed profit
taking
.
Daily Stocks Recommendations:-
# SELL NELCO LTD. BELOW 86.8
TARGETS-86,85.2,84.4 SL-88.4
# BUY KTIL ABOVE 345
TARGETS-348,351.5,354 SL-338.
# SELL PHILLIPS CARBON BELOW 114 TARGETS-113,112,111 SL-116.
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