Sensex down 288 points

The Indian markets were butchered owing to relentless selling in all the sectors and also bleeding in heavyweights like Reliance Industries, HDFC and L&T. Foreign money outflow could be another reason that sent the Nifty to break 5500-mark yesterday for the first time since September 06, 2010. Negative European markets also spooked sentiments. Broader indices were badly hit as compared to benchmarks this week.

Results Today

ONGC, Bank of Baroda, Uco Bank will declare quarterly results.

Weak Asian cues to drag markets lower at start

The Indian indices are expected to open on a negative note on account of weak Asian cues.

Stocks To Watch Tomorrow

The markets took sharp cuts today and not a single sector was spared from the beating.The weakness was accentuated by the F&O expiry as traders seemed to rollover their short positions to the next month’s series amid persistent uncertainty over the near-term prospects for the Indian markets.

Stocks to watch tomorrow,

Dish Tv India Ltd,

Cmp:61.50,

Action:Buy,

Target:70,

Source:P K Agarwal,purpleline investment on CNBC AWAZ.

Deepak Fertilizers and petrochemicals Corporation Ltd,

Cmp:156.85,

Action:Buy,

Target:215,

Source:Sharekhan.

Vijaya bank ,

Cmp:89.85,

Action:Buy,

Target:107,

Source:Anand Rathi securities.

Essel Propack Ltd,

Cmp:51.90,

Action:Buy,

Target:58,

Source:Angel Broking.

What experts says?

Fresh investments should not be made till the market corrects and reaches the level of 5400, says, Avinash Gorakshkar of Anagram Capital on CNBC-TV18

What experts says?

Short term support seen at 19000,

Sensex, Nifty likely to see sideway movements.

Nifty can see pullback to 5500 below 5700

10-12% pullback more of consolidation.

Source:Louise Yamada on cnbc-tv18

Stocks To Watch Tomorrow

Idea Cellular Ltd,
Cmp:72
Action:Sell,
Target:64
Source:Angel Broking.
Mundra port and special economic zone Ltd,
Cmp:140.10
Action:Buy
Target:142
Source:India Infoline.
Tvs Motor Company Ltd,
Cmp:59.95
Action:Sell,Hold for Long term,
Source:Vikram bhatt,Positive Fin.
3I Infotech Ltd,
Cmp:55.70
Action:Buy
Target:82,
Source:Sharekhan

Sterlite Inds Q3 cons net profit up

Non-ferrous metals and mining company Sterlite Industries reported a whopping 60.27% rise in its consolidated net profit at Rs1,101 crore for the third quarter of the current fiscal on higher sales.

Poor q3 results drag Hindustan Unilever

Shares of Hindustan Unilever dipped more than 5% and hit the monthly low of Rs281.65 after the company has reported poor Q3 numbers. So far, 8.78 lakh shares have traded on the BSE as against the two-week average volume of 6.72 lakh shares.

ZEE Entertainment enterprises Ltd

Zee Entertainment Enterprises was ahead of all stocks in the BSE-200 index and advanced over 5% to hit the weekly high of Rs125.95.At 11.06 am, Zee Entertainment Enterprises was trading at Rs123.85, up by 3.34%, with a volume of 2.33 lakh shares on the BSE

The Reserve bank of India (RBI) raises repo rate by 25 bps to 6.5%, reverse repo rate by 25 bps to 5.5% while holds cash reserve ratio at 6%.

• Repo Rate is hiked by 25 bps to 6.5%.
• Reverse Repo rate hiked by 25 bps to 5.5%
• CRR unchanged at 6%
• 1% SLR Leeway extended to April 8
• Inflation forecast revised to 7% vs 5.5%
• GDP forecast retained at 8.5% with upward bias.

Banking sectors gave the biggest boost to the markets today.The Sensex started the trade higher by 88 points at 19096 and soon hit the day’s low of 18998. From lowest level, the index immediately turned positive and inched higher. In mid-morning trade, the Sensex hit the day’s high of 19194 owing to support from financials. The index continued to trade in the positive zone in the afternoon session led by buying in banks, consumer durables, PSU stocks.The Nifty, after providing a weekly positive close, is now well above the 5700 level which is a positive sign for the bulls going ahead.
Stocks to Watch,

Orient paper and Industries Ltd,

Cmp:50.75,

Action:Buy

Target:60

Monnet Ispat Ltd,

Cmp:598.30

Action:Buy at dips

Target:N/A.

Dhanlakshmi Bank Ltd

Cmp:111.90

Action:Buy

Target:140.

Tvs Motor Company Ltd,

Cmp:62.25

Action:Buy

Target:86

Vijaya Bank Q3 net profit up 21.86% yoy

The net profit of the Vijaya bank rose by 21.86% to Rs151.80 crore for the quarter ended December 31, 2010 as compared to Rs124.57 crore for the quarter ended December 31, 2009. Total income increased by 9.46% to Rs1584.40 crore for the quarter ended December, 2010 from Rs1447.41 crore for the quarter ended December 31, 2009.

At 1.45 pm today, Vijaya Bank was trading at Rs94.50, up by 1.89%, with a volume of 5.46 lakh shares on the BSE.

Results Today

Jindal Steel & Power, Union Bank of India, Godrej Industries, ICICI Bank

New Delhi, Jan 24, Faced with high food inflation, the Reserve Bank is likely to raise key interest rates by 25-50 basis points at its quarterly monetary policy review tomorrow.Source:PTI