In spite of a positive start, key Indian stock market indices ended the day well below yesterday’s close. Major sell-off in index stock, mainly Tata Motors and negative global peers pulled the market down by half a percentage. Tata Motors warning investors of a weaker earnings report in the company’s UK subsidiary Jaguar Land Rover for the three months ended 31 December as compared with the previous two quarters, was a real sentiment dampener for the market today. Weak Asian markets and negative opening of European market didn’t help the cause either. Most valuable U.S. Company, Apple Inc reporting revenue earning that missed market expectations, points to a likely weak opening of the markets in U.S.
30-shareBSE Sensex ended lower by 102.83 points at 19923.78. The index hit an intra-day high of 20072 and an intra-day low of 19,884. The index opened at 20017. The broader NSE Nifty closed at 6,019.35, down 34.95 points over the previous close. It hit an intra-day’s high of 6,065 and a day’s low of 6,007. It opened at 6,046.
20 shares out of the 30-share BSE Sensex ended lower while others finished higher. Tata Motors was the top loser from the Sensex pack with a fall of 5.91%, followed by Gail India (4.66%), Cipla (3.67%), Hindalco (3.39%), Sterlite Ind (2.53%), Maruti Suzuki (2.39%), Tata Power (2.32 pc). Major gainers were HUL 1.86%, followed by ITC (1.64%), TCS (1.06%), ONGC (1.01%) and Wipro (0.91%).
The BSE Mid Cap Index ended lower by 2.51%, while the BSE Small Cap Index ended lower by 2.44%. Among the 13 sectoral indices, ten sectors closed in red zone while remaining three sectors closed in green zone. BSE-Realty dropped by 4.19 per cent, followed by BSE-Auto (2.51%), BSE-Power (1.97%), BSE-Metal (1.84%), BSE-PSU (1.52%) and BSE-HC (1.33%) while BSE-FMCG rose by 1.03%, BSE-IT 0.37% and BSECG (Capital Goods) surged by 0.36%.
The market breadth stood in favor of declines. Of the 2985 stocks traded on the BSE, 535 (17.92%) rose, 1674 (56.08%) fell and 776 (26%) stocks remained unchanged.
Positive signals from China’s manufacturing Purchasing Managers’ Index (PMI) for January climbing to a 24-month high of 51.9, was eclipsed by North Korea threatening a nuclear test and as an outcome of it most of the Asian markets were lower today. The Shanghai Composite index in China declined by 0.8%, the Kospi index fell by 0.8%, the Taiwan index was down by 0.63% and the Hang Seng index in Hong Kong was down by 0.15%. However, the Nikkei index in Japan was up 1.2% and the Straits Times index added by 0.5%.
Meanwhile, European stock markets which dropped in early trades on Thursday have managed to recover and are trading in the positive terrain. The FTSE index in UK was up 0.5%, the DAX index in Germany was up 0.15% and the CAC index in France was up 0.4%. Markets in the U.S seems to have recovered the shock wave of Apple Inc lower than expected earnings report and the Dow Jones Industrial Average is up by over 0.60%, while NASDAQ is almost flat.
Meanwhile, Foreign Institutional Investors (FIIs) bought shares worth a net Rs 802.62 crore yesterday as per provisional data from the stock exchanges. One must not forget that FIIs have remained net buyers in all the trading sessions this week till reports are available. This undoubtedly signifies the underlying sentiment of the Indian markets.
However, being the last trading day of the week, long positions will not be taken by the market participants tomorrow. Positive closing of U.S markets today will definitely help the market in regaining today’s loss in tomorrow’s trade.
30-shareBSE Sensex ended lower by 102.83 points at 19923.78. The index hit an intra-day high of 20072 and an intra-day low of 19,884. The index opened at 20017. The broader NSE Nifty closed at 6,019.35, down 34.95 points over the previous close. It hit an intra-day’s high of 6,065 and a day’s low of 6,007. It opened at 6,046.
20 shares out of the 30-share BSE Sensex ended lower while others finished higher. Tata Motors was the top loser from the Sensex pack with a fall of 5.91%, followed by Gail India (4.66%), Cipla (3.67%), Hindalco (3.39%), Sterlite Ind (2.53%), Maruti Suzuki (2.39%), Tata Power (2.32 pc). Major gainers were HUL 1.86%, followed by ITC (1.64%), TCS (1.06%), ONGC (1.01%) and Wipro (0.91%).
The BSE Mid Cap Index ended lower by 2.51%, while the BSE Small Cap Index ended lower by 2.44%. Among the 13 sectoral indices, ten sectors closed in red zone while remaining three sectors closed in green zone. BSE-Realty dropped by 4.19 per cent, followed by BSE-Auto (2.51%), BSE-Power (1.97%), BSE-Metal (1.84%), BSE-PSU (1.52%) and BSE-HC (1.33%) while BSE-FMCG rose by 1.03%, BSE-IT 0.37% and BSECG (Capital Goods) surged by 0.36%.
The market breadth stood in favor of declines. Of the 2985 stocks traded on the BSE, 535 (17.92%) rose, 1674 (56.08%) fell and 776 (26%) stocks remained unchanged.
Market outlook for tomorrow
Positive signals from China’s manufacturing Purchasing Managers’ Index (PMI) for January climbing to a 24-month high of 51.9, was eclipsed by North Korea threatening a nuclear test and as an outcome of it most of the Asian markets were lower today. The Shanghai Composite index in China declined by 0.8%, the Kospi index fell by 0.8%, the Taiwan index was down by 0.63% and the Hang Seng index in Hong Kong was down by 0.15%. However, the Nikkei index in Japan was up 1.2% and the Straits Times index added by 0.5%.
Meanwhile, European stock markets which dropped in early trades on Thursday have managed to recover and are trading in the positive terrain. The FTSE index in UK was up 0.5%, the DAX index in Germany was up 0.15% and the CAC index in France was up 0.4%. Markets in the U.S seems to have recovered the shock wave of Apple Inc lower than expected earnings report and the Dow Jones Industrial Average is up by over 0.60%, while NASDAQ is almost flat.
Meanwhile, Foreign Institutional Investors (FIIs) bought shares worth a net Rs 802.62 crore yesterday as per provisional data from the stock exchanges. One must not forget that FIIs have remained net buyers in all the trading sessions this week till reports are available. This undoubtedly signifies the underlying sentiment of the Indian markets.
However, being the last trading day of the week, long positions will not be taken by the market participants tomorrow. Positive closing of U.S markets today will definitely help the market in regaining today’s loss in tomorrow’s trade.
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