In my morning forecast, I wrote that, “Indian share market is not isolated from this global trend and hence the sharp fall of US market on Wednesday will certainly have its impact on Indian equity market. But with government being in a mood of a range of reforms to boost the economy, the Indian market today will not see much downside”. If one looks at the trend of today’s Indian stock market, he can see for himself, how much correct it was. There was no major sell-off, in spite of strong negative cues from the global market.
After two days of upswing, the Indian market ended with marginal losses on Thursday. Markets opened on a flat note and turned weak and slipped lower amid profit booking. The markets swung between gains and losses and remained highly volatile throughout the day and closed the trading session in the red zone. The equities tried to enter the green territory at the fag end of the trading session but couldn't maintain the same and shut shop in the red zone. Market participants also preferred to stay cautious amid losses on Wall Street over the lack of much progress in U.S. budget negotiations.
The benchmark BSE Sensex opened at 19511 and closed at 19453.92, down 22.08 points over the previous close. It had earlier touched a day's high of 19520 and a day's low of 19335. The NSE Nifty opened at 5934 and closed at 5916.40 down 13.20 points over the previous close. It earlier touched a day’s high of 5937 and a day’s low of 5881. Even the BSE Mid-Cap and the Small-Cap indices ended with marginal losses.
Among the 13 sectoral indices, six sectors closed in the green zone while remaining seven sectors closed in the red zone. Top Gainers- BSE Auto up by 0.33%, BSE Oil&Gas rose by 0.27%, BSE CD was up by 0.16%. Top Losers: BSE PSU was down by 0.81%, BSE Realty fell by 0.58%, BSE HC declined by 0.37%.
Shares of TCS, Infosys, Tata Power, Tata Steel, Hindalco Inds, Jindal Steel, Cipla, SBI and ONGC were among gainers in Sensex and Nifty. While shares of RIL, Wipro, Sun Pharma, ITC, Bajaj Auto, L&T, BHEL, HDFC Bank, NTPC and Coal India were among losers in Sensex and Nifty.
The advance decline ratio was in favor of the bears. Of the 3,027, that were traded in the BSE, 1583 (52.30%) stocks declined against 1310 (43.28%) advancing stocks. Only 134 stocks remained unchanged.
After two days of upswing, the Indian market ended with marginal losses on Thursday. Markets opened on a flat note and turned weak and slipped lower amid profit booking. The markets swung between gains and losses and remained highly volatile throughout the day and closed the trading session in the red zone. The equities tried to enter the green territory at the fag end of the trading session but couldn't maintain the same and shut shop in the red zone. Market participants also preferred to stay cautious amid losses on Wall Street over the lack of much progress in U.S. budget negotiations.
The benchmark BSE Sensex opened at 19511 and closed at 19453.92, down 22.08 points over the previous close. It had earlier touched a day's high of 19520 and a day's low of 19335. The NSE Nifty opened at 5934 and closed at 5916.40 down 13.20 points over the previous close. It earlier touched a day’s high of 5937 and a day’s low of 5881. Even the BSE Mid-Cap and the Small-Cap indices ended with marginal losses.
Among the 13 sectoral indices, six sectors closed in the green zone while remaining seven sectors closed in the red zone. Top Gainers- BSE Auto up by 0.33%, BSE Oil&Gas rose by 0.27%, BSE CD was up by 0.16%. Top Losers: BSE PSU was down by 0.81%, BSE Realty fell by 0.58%, BSE HC declined by 0.37%.
Shares of TCS, Infosys, Tata Power, Tata Steel, Hindalco Inds, Jindal Steel, Cipla, SBI and ONGC were among gainers in Sensex and Nifty. While shares of RIL, Wipro, Sun Pharma, ITC, Bajaj Auto, L&T, BHEL, HDFC Bank, NTPC and Coal India were among losers in Sensex and Nifty.
The advance decline ratio was in favor of the bears. Of the 3,027, that were traded in the BSE, 1583 (52.30%) stocks declined against 1310 (43.28%) advancing stocks. Only 134 stocks remained unchanged.
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