In spite of positive global cues Indian stock indices ended today’s trading on a negative note. Uptrend in global markets pushed the Indian stock market well above its previous day’s close but as the day progresses, it failed to keep the momentum going with selling pressure witnessed in Capital Goods and Power stocks. By the end of the day, Indian stock market indices closed with marginal losses.
BSE Sensex closed at 19663.55, down by 3.04 points over the previous close. It had earlier touched a day's high of 19783 and a day's low of 19596. It opened at 19728. The NSE Nifty fell by 2.85 points to settle at 5968.65 in trade today. It earlier touched a day’s high of 6,005 and a day’s low of 5947. It opened at 5,998.
Shares of ONGC, Tata Motors, ICICI Bank, SBI, ITC, Coal India are among gainers in Sensex and Nifty. While shares of RIL, Infosys, TCS , Wipro, NTPC, HDFC, Tata Steel, Hero MotoCorp, Dr Reddys Lab, Bajaj Auto, Tata Motors, Hindalco Inds, Mahindra & Mahindra , Sun Pharma, Bharti Airtel, BHEL, are among losers in Sensex and Nifty.
The BSE Mid Cap index closed lower by 0.3&, while the BSE Small Cap index fell by 0.5% at the end of today’s trading. Among the 13 BSE sectoral indices, eight sectors closed in the red zone while remaining five sectors closed in the green zone. Top gainers were, BSE Bankex up by 0.62%, BSE Oil&Gas up by 0.47%, BSE PSU up 0.32%. Top losers are BSE Power down by 0.93%, BSE Healthcare down by 0.70% and BSE Metal down by 0.63%.
The advance decline ratio was in favour of the bears. Of the 3104 stocks traded on the BSE, 1183 (38.11%) rose, 1797 (57.89%) fell and 124 (3.99%) stocks remained unchanged.
The market today ignored all the positive global and domestic news ahead of quarter three earning reports by companies that are scheduled to be out from this week itself. Government's decision to hike railway fares after a decade, Cabinet clearing 10% divestment in Engineers India Ltd and government approving a proposal to inject Rs 125.17bn in public sector banks were all discounted by the market today.
Almost all the Asian markets ended today’s trading with smart gains after China released better-than-expected trade data. However European markets shares are mixed ahead of the European Central Bank meeting later in the day. Markets in the US are almost flat till now.
Foreign brokerage firm Citigroup issued a cautionary note, saying a rebound in economic growth; corporate risk appetite and the investment cycle may not be as strong as current expectations, and downgraded India to "underweight" from "neutral" as part of its emerging markets review.
Reports of third quarter earnings by Infosys tomorrow will be crucial in influencing the market sentiment in days ahead. Analysts are already of the opinion that the results might be well below market expectations. If Infosys fails to live up to the market expectations, it will certainly dampen the market sentiment. So all eyes on Infosys 3rd quarter result tomorrow.
BSE Sensex closed at 19663.55, down by 3.04 points over the previous close. It had earlier touched a day's high of 19783 and a day's low of 19596. It opened at 19728. The NSE Nifty fell by 2.85 points to settle at 5968.65 in trade today. It earlier touched a day’s high of 6,005 and a day’s low of 5947. It opened at 5,998.
Shares of ONGC, Tata Motors, ICICI Bank, SBI, ITC, Coal India are among gainers in Sensex and Nifty. While shares of RIL, Infosys, TCS , Wipro, NTPC, HDFC, Tata Steel, Hero MotoCorp, Dr Reddys Lab, Bajaj Auto, Tata Motors, Hindalco Inds, Mahindra & Mahindra , Sun Pharma, Bharti Airtel, BHEL, are among losers in Sensex and Nifty.
The BSE Mid Cap index closed lower by 0.3&, while the BSE Small Cap index fell by 0.5% at the end of today’s trading. Among the 13 BSE sectoral indices, eight sectors closed in the red zone while remaining five sectors closed in the green zone. Top gainers were, BSE Bankex up by 0.62%, BSE Oil&Gas up by 0.47%, BSE PSU up 0.32%. Top losers are BSE Power down by 0.93%, BSE Healthcare down by 0.70% and BSE Metal down by 0.63%.
The advance decline ratio was in favour of the bears. Of the 3104 stocks traded on the BSE, 1183 (38.11%) rose, 1797 (57.89%) fell and 124 (3.99%) stocks remained unchanged.
Market outlook for tomorrow
The market today ignored all the positive global and domestic news ahead of quarter three earning reports by companies that are scheduled to be out from this week itself. Government's decision to hike railway fares after a decade, Cabinet clearing 10% divestment in Engineers India Ltd and government approving a proposal to inject Rs 125.17bn in public sector banks were all discounted by the market today.
Almost all the Asian markets ended today’s trading with smart gains after China released better-than-expected trade data. However European markets shares are mixed ahead of the European Central Bank meeting later in the day. Markets in the US are almost flat till now.
Foreign brokerage firm Citigroup issued a cautionary note, saying a rebound in economic growth; corporate risk appetite and the investment cycle may not be as strong as current expectations, and downgraded India to "underweight" from "neutral" as part of its emerging markets review.
Reports of third quarter earnings by Infosys tomorrow will be crucial in influencing the market sentiment in days ahead. Analysts are already of the opinion that the results might be well below market expectations. If Infosys fails to live up to the market expectations, it will certainly dampen the market sentiment. So all eyes on Infosys 3rd quarter result tomorrow.
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