Nifty below 5600; Should investors start bottom fishing?

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	Dated:24 June,2013

Top Headlines Should investors start bottom fishing as Nifty slips below 5600? Analysts feel that investors should remain cautious as the markets are likely to remain volatile and a pullback can happen. Nifty slips below 5600; top 7 stocks that hit 52-week low Nifty has shaved off a little over 200 points or nearly 4 per cent in a matter of just three trading days largely on account of weak global cues. RBI can sell up to $30 billion to support the rupee: BofA-ML BofA-ML expects RBI to eventually mobilize NRI bonds as the sell off of EM debt will constrain attractiveness of FII debt limit hikes. Views on Stocks/Markets JP Morgan upgrades NTPC to 'overweight'; maintains target of Rs 175 United Phosphorus is the latest short selling idea: Nikunj Dalmia Standard Chartered cuts rupee forecast to 60.5/dollar for end of year IPO/Global Markets China shares plunge Nikkei falls on China worries Seoul shares slump to 11-month low Rupee / Gold Re closes in on record lows Gold tumbles by Rs 320 GS cuts gold forecasts More 'Market' News Sensex slips 233 pts to over 2-mth lows; weak Re hurt Sensex today slipped by around 233 points to end at over two-month lows, making investors poorer by a staggering Rs 1.1 lakh crore. UBS cuts silver price forecasts on sour gold sentiment UBS lowered its forecasts for silver, saying prices would come under pressure as sentiment towards gold sours and silver has no drivers of its own. JP Power hits 52 wk low as plant shuts down in Uttarakhand JP Ventures plunged to hit a 52-week low after its 400 MW Vishnuprayag Hydro-power plant in district Chamoli was shut down due to incessant rain.	Market Round-up SENSEX 18540.89 -233.35 NIFTY 5590.25 -77.40 S&P500 1,592.43 .00 NASDAQ 3,357.25 -7.38 USD/INR 59.7290 .00 NSE Gainers Scrip Price(Rs.) %Change Todays Writing Instrument 10.65 + 688.89 First Winner Industries L 30.30 + 450.91 Almondz Global Securities 26.90 + 212.79 Parrys Sugar Industries L 52.10 + 185.48 Melstar Information Techn 6.80 + 138.60 NSE Losers Scrip Price(Rs.) %Change Celebrity Fashions Ltd. 2.50 -41.86 Money Matters Financial S 107.05 -31.77 Bodhtree Consulting Ltd. 16.25 -30.41 IMP Powers Ltd. 26.50 -30.17 Sambhaav Media Ltd. 1.05 -27.59

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