Extremely poor November 2013 IIP (Index of Industrial Production) number of -0.1% versus 8.3% in October 2012 had a huge impact on the Indian stock market for the day. The sentiment further aggravated after data showed country's exports contracted by 1.9% in December, leaving a trade deficit of USD 17.6 billion. Even better-than-expected net profit for the third quarter ended December 2012 (Q3) by software major Infosys and its management raising its full year guidance, could not stop Indian indices from slipping into red for the third consecutive day.
At the end of today’s trading, the benchmark BSE Sensex closed at 19639.34, down by 24.21 points and the broader NSE Nifty fell 17.35 points to settle at 5951.30. At the closing bell, the BSE Midcap index declined 1.49%, while the BSE Smallcap index was down by 1.58% in trade today.
The top gainers in the Sensex were Infosys (up 15.4%), Tata Motors (up 4.8%), Wipro (up 4%), ONGC (up 2.7%) and Cipla (up 1.3%). The top losers in Sensex are Ambuja Cements (down 9.6%), Hindustan Unilever (down 6.8%), BHEL (down 6.6%), L&T (down 5.9%) and ACC (down 5.1%).
Among the 13 BSE sectoral indices, stocks of ten sectors closed in the red zone while remaining three sectors closed in the green zone. Top gainers were, BSE IT up by 9.34%, BSE TECk up by 6.57%, BSE CD up 0.21%. While top losers were, BSE FMCG down by 2.47%, BSE Realty down by 1.89% and BSE PSU down by 1.74%.
The market breadth stood in favor of declines. Of the 3078 stocks traded on the BSE, 982 (31.90%) rose, 1964 (63.81%) fell and 132 (4.29%) stocks remained unchanged.
As regards global markets, Asian indices had a mixed outing today. Nikkei and Taiwan were up, while Hang Seng and Shanghai were own. European indices were also mixed today. FTSE up by 0.21%, CAC down by 0.13%, DAX up by 0.02%. US markets are however trading lower.
For the week ahead, Inflation figure will be the key figure to watch for. The widely tracked WPI is projected to be 7.37%. Power IIP figures may however, motivate RBI to consider a rate cut in its January 29th review.
Among the companies that will declare their numbers in the coming week include TCS, Axis Bank, Hero MotoCorp, ITC and Reliance Inds. The indices may continue to remain in a range even as stock-specific activity will dominate the market. Global developments will have to be closely watched as well.
At the end of today’s trading, the benchmark BSE Sensex closed at 19639.34, down by 24.21 points and the broader NSE Nifty fell 17.35 points to settle at 5951.30. At the closing bell, the BSE Midcap index declined 1.49%, while the BSE Smallcap index was down by 1.58% in trade today.
The top gainers in the Sensex were Infosys (up 15.4%), Tata Motors (up 4.8%), Wipro (up 4%), ONGC (up 2.7%) and Cipla (up 1.3%). The top losers in Sensex are Ambuja Cements (down 9.6%), Hindustan Unilever (down 6.8%), BHEL (down 6.6%), L&T (down 5.9%) and ACC (down 5.1%).
Among the 13 BSE sectoral indices, stocks of ten sectors closed in the red zone while remaining three sectors closed in the green zone. Top gainers were, BSE IT up by 9.34%, BSE TECk up by 6.57%, BSE CD up 0.21%. While top losers were, BSE FMCG down by 2.47%, BSE Realty down by 1.89% and BSE PSU down by 1.74%.
The market breadth stood in favor of declines. Of the 3078 stocks traded on the BSE, 982 (31.90%) rose, 1964 (63.81%) fell and 132 (4.29%) stocks remained unchanged.
As regards global markets, Asian indices had a mixed outing today. Nikkei and Taiwan were up, while Hang Seng and Shanghai were own. European indices were also mixed today. FTSE up by 0.21%, CAC down by 0.13%, DAX up by 0.02%. US markets are however trading lower.
Market outlook for the next week
For the week ahead, Inflation figure will be the key figure to watch for. The widely tracked WPI is projected to be 7.37%. Power IIP figures may however, motivate RBI to consider a rate cut in its January 29th review.
Among the companies that will declare their numbers in the coming week include TCS, Axis Bank, Hero MotoCorp, ITC and Reliance Inds. The indices may continue to remain in a range even as stock-specific activity will dominate the market. Global developments will have to be closely watched as well.
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