Negative global cues had its toll on Indian stock market at this last trading session of the week. Indian stock market could not hold on to the continuous negative global trend and ended lower by nearly 4 %. Steep fall in overseas stock markets on worries over US budget deficit issue overshadowed booster doses of economic reform by the Indian government.
Indian Market ended lower on Friday, marking a second week of declines. The benchmark BSE Sensex today fell 1.09 percent, or 211.92 points, to end at 19242 and ending 0.39 percent lower for the week. While, NSE Nifty shed 1.16 percent, or 68.70 points, to end at 5,847.70, closing below the psychologically key 5900 level, also ending down 0.54 percent for the week. The BSE Sensex remained in negative zone throughout the day. Today's fall was the worst single-day fall since October 8 when Sensex lost 229.48 points.
Among the sectoral indices, BSE-Realty dropped by 3.51 %, followed by the BSE-Metal (1.80 %), BSE Health Care (1.70 %), BSE Capital Goods (1.66 %), BSE Power (1.63 %), BSE Oil&Gas (1.53 %), BSE Auto (1.35 %), BSE Bankex (1.34 %), BSE Consumer Durables (1.26 %) and the BSE PSU (1.24 %).
The market breadth stood in favor of declines. Of the 3019 stocks traded on the BSE, 979 (32.43%) rose, 1939 (64.23%) fell and 101 (3.85%) stocks remained unchanged. The total turnover fell to Rs 2,226.13 crore from Rs 2,437.32 crore yesterday.
Declines in RIL, ICICI Bank, L&T, SBI, Bharti Airtel, HDFC Bank, Tata Motors, Jindal Steel, Sun Pharma, ONGC, M&M and Sterlite Industries together accounted for over 150-point hit for the Sensex. Overall 28 out of 30 index constituents closed with losses while TCS and ITC were the lone gainers.
28 out of 30 shares of the BSE Sensex ended with losses. The major Sensex losers were Jindal Steel (3.52 %), Sterlite Ind (3.23 %), Bharti Airtel (3.08 %), Hindalco (2.68 %), Sun Pharma (2.22 %), SBI (1.95 %), Tata Motors (1.95 %), Dr Reddy's (1.92 %), BHEL (1.88 %), L&T (1.73 %) and Reliance Ind (1.68 %). However, TCS (0.78 %) and ITC (0.03 %) inched up.
Indian shares are expected to remain volatile next week amid uncertainty around the U.S. "fiscal cliff" and as markets head into the last derivatives expiry of 2012 on Thursday. However on the economic front, foreign direct investment (FDI) inflow in India jumped 67% in October to $1.94 billion, according to a government statement on Friday, but inflows for the current financial year were still down. Further, the global rating agency Standard and Poor's (S&P) said that it expects India to grow by 6.5% during 2013, according to reports and for China, S&P expects the growth rate to move back to 8% level in 2013. Government is preparing fresh plans to auction telecom spectrum that can fetch around Rs 399 bn.
Indian Market ended lower on Friday, marking a second week of declines. The benchmark BSE Sensex today fell 1.09 percent, or 211.92 points, to end at 19242 and ending 0.39 percent lower for the week. While, NSE Nifty shed 1.16 percent, or 68.70 points, to end at 5,847.70, closing below the psychologically key 5900 level, also ending down 0.54 percent for the week. The BSE Sensex remained in negative zone throughout the day. Today's fall was the worst single-day fall since October 8 when Sensex lost 229.48 points.
Among the sectoral indices, BSE-Realty dropped by 3.51 %, followed by the BSE-Metal (1.80 %), BSE Health Care (1.70 %), BSE Capital Goods (1.66 %), BSE Power (1.63 %), BSE Oil&Gas (1.53 %), BSE Auto (1.35 %), BSE Bankex (1.34 %), BSE Consumer Durables (1.26 %) and the BSE PSU (1.24 %).
The market breadth stood in favor of declines. Of the 3019 stocks traded on the BSE, 979 (32.43%) rose, 1939 (64.23%) fell and 101 (3.85%) stocks remained unchanged. The total turnover fell to Rs 2,226.13 crore from Rs 2,437.32 crore yesterday.
Declines in RIL, ICICI Bank, L&T, SBI, Bharti Airtel, HDFC Bank, Tata Motors, Jindal Steel, Sun Pharma, ONGC, M&M and Sterlite Industries together accounted for over 150-point hit for the Sensex. Overall 28 out of 30 index constituents closed with losses while TCS and ITC were the lone gainers.
28 out of 30 shares of the BSE Sensex ended with losses. The major Sensex losers were Jindal Steel (3.52 %), Sterlite Ind (3.23 %), Bharti Airtel (3.08 %), Hindalco (2.68 %), Sun Pharma (2.22 %), SBI (1.95 %), Tata Motors (1.95 %), Dr Reddy's (1.92 %), BHEL (1.88 %), L&T (1.73 %) and Reliance Ind (1.68 %). However, TCS (0.78 %) and ITC (0.03 %) inched up.
Indian shares are expected to remain volatile next week amid uncertainty around the U.S. "fiscal cliff" and as markets head into the last derivatives expiry of 2012 on Thursday. However on the economic front, foreign direct investment (FDI) inflow in India jumped 67% in October to $1.94 billion, according to a government statement on Friday, but inflows for the current financial year were still down. Further, the global rating agency Standard and Poor's (S&P) said that it expects India to grow by 6.5% during 2013, according to reports and for China, S&P expects the growth rate to move back to 8% level in 2013. Government is preparing fresh plans to auction telecom spectrum that can fetch around Rs 399 bn.
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