Sensex Snaps 3-Week Winning Streak, Down 296 Pts

Compared with the BSE SENSEX snapped their winning streak over the last three weeks and fell to 296 points due to profit booking by investors and entrepreneurs, in the weakness of the banking market before the results of stress tests. Disorientation in global markets, fears the spread of the euro area Zone crisis, the major European countries and lower industrial output data, the SENSEX torn to 18,326.42.

Impasse debt ceiling, the U.S. and back-to-back, warned the S & P and Moody's U.S. debt is also considered trading emotions.

Bomb blast in Mumbai in three weeks, also affected the market emotions.

Analysts say that the first quarter, announced the country's second largest software company Infosys Tech was the market's expectations and the economic downturn helped.

The company reported 15.72% jump in consolidated net profit of Rs 1,722 crore in the first quarter ended 30 June 2011.

Displaying the slack in the economy, industry growth fell to 5.6% in May 2011 by 8.5% in the same month in 2010, mainly due to poor performance of manufacturing and mining industries, has further aggravated the situation.

Compared with the BSE SENSEX fell back below the 18,823.19 to 18,326.42 and 18,561.92 before settling on the week, a net loss of 296.12 points or 1.57% on the previous weekend. This was achieved by 987.51 points or 5.53% over the last three weeks.

Interest rates are linked to stocks and real estate banking segments, also attracted a sell fear of rising interest rates, given the rise in inflation, which can affect the bottom line of these companies / banks.

Metals and mining shares extended a slide, according to a ministerial-level discussion of the draft approved by the Mining Bill, which proposed a profit-sharing with people affected by their projects.

NSE 50-share Nifty also fell by 79.55 points or 1.41% to 5,581.10 last weekend at their level.

Among the BSE IT index fell 5.53%, 4.51% on BSE Teck, BSE-Metal by 2.36%, 1.89% on BSE Realty, BSE capital goods 1.35% and BSE Auto 1.19%.

But BSE-shot of the IPO of 1.70%, BSE-HC by 1.26% and BSE Oil & Gas by 1.12%.

Major losers from SENSEX pack was Infosys (8.31%), Hindalco (6.26%), Jaiprakash Asso (3.95%), Hero Honda (3.76%), Wipro (3.63%), Tata Steel (3, 56%), BHEL (3.02%), Cipla (2.56%), Reliance Infra (2.21%), Bajaj Auto (2.62%) and HDFC (2.60%).

But the shot from Reliance Industries 2.21%, 0.71%, followed by ONGC, ITC and M & M 0.52% 0.28%.

Total turnover of BSE and NSE fell by Rs 12,562.73 crore and Rs 49,941.40 RS 15,233.28 crore, according to 54,892.40 crore and former