Indian equities dropped on yesterday (Sep 26) on account of weak Asian markets as US Congress failed to come out with a conclusion on the $700 billion plan to bail-out its financial segment.

Realty, metal, banking and power stocks recorded huge losses. Each sector plummeted 4-6%. 

Midcap and Smallcap index shed 2.99% and 3.11% respectively.

The 30-share index, BSE Sensex (on Friday) opened negatively at 13,481.85, down 65.33 points, whereas the NSE Nifty opened at 4108.75. 

After opening on a weak note, the 30-share index Sensex continued its losing streak on the back of sustained selling action witnessed in realty, metal, banking and power stocks.

However, FMCG segment went up. 

Midcap and Smallcap index dropped 1.43% and 1.10% respectively.

Realty, banks and metals were hammered after the US Congress failed to come out with a decision on the USD 700 billion plan to bail-out its financial sector.

Stock market analysts have maintained ‘buy’ rating on Reliance Power Limited (RPL) stock with an intraday target of Rs 168. 

According to them, interested traders can purchase the stock above Rs 166 with a strict stop loss of Rs 164. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 170. 
 
Shares of the company, on Thursday (Sep 25), closed at Rs 164.85 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 3306271. The share price has seen a 52-week high of Rs 377.94 and a low of Rs 116.30 on BSE. 

Stock market analysts have suggested investors to ‘sell’ Tata Consultancy Services (TCS) stock with an intraday target of Rs 665.

According to then, interested traders can sell the stock between Rs 680-681 with a strict stop loss of Rs 695. 
 
Analysts feel that TCS stock would remain under pressure due to recent market volatility. 

Today (Sep 26), the stock opened weak at Rs 685, against its last closure at Rs 690.20 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 47.40 and 14.13 respectively. The share price has seen a 52-week high of Rs 2387.60 and a low of Rs 1007 on BSE. 

Indian stock markets opened on a dull note today (Sep 26), and continued to slip further because of massive selling by funds, sparked by failing trends in other Asian markets.

For the week ended September 13, the wholesale price index (WPI)-based inflation remained unchanged at 12.14%. However, inflationary figures during the same period of the last year were significantly lower at 3.51%.

Stock market analysts have suggested short-selling in Reliance Communications Ltd (RCom) stock. 

Shares of the company, on Wednesday (Sep 24), closed at Rs 370.35 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 2183918. Current EPS & P/E ratio stood at 10.16 and 35.86 respectively. The share price has seen a 52-week high of Rs 844 and a low of Rs 325 on BSE. 

Due to the recent stock market position, interested traders are recommended to sell the stock around Rs 372. After selling the stock at the said price, traders can buy it around Rs 365 to make intraday gain.