It was a disappointing at the Indian stock market today. Mixed global cues with a downward bias, US commerce department’s data revealing contraction in the US economy for the fourth quarter and profit booking on the F&O expiry today dragged the market well below its yesterday’s closing. In what was lackluster day of trading, the market closed to a two-week low, well below the psychologically crucial level of 20,000.
The benchmark BSE Sensex closed at 19,894.98 losing 110.02 points (0.55%). The Sensex earlier touched a high of 20,008.83 and a low of 19,865. It opened in the negative zone at 19987. The broader indices, NSE Nifty closed at 6,034 down 21 points (0.35%) over the previous close. The Nifty earlier touched a day’s high of 6,058 and a day’s low of 6,025. It opened at 6,045.
In spite of negative closing of the Indian stock market, 19 of the 30 Sensex-based scripts closed with gains while others finished with losses. Tata Power dipped by 2.17 %, ICICI Bank 1.93 %, HDFC Bank 1.87 %, Bharti Airtel 1.52 %, RIL 1.39 %, HDFC 1.37 %, L&T 1.35 %, Maruti Suzuki 1.21 %, Jindal Steel 1.16 %and HUL 1.0 %. However, shares of BHEL gained 2.36 %, Sun Pharma 1.33 %, Hero MotoCorp 1.31 % and Gail India 1.03 %.
The BSE Midcap index gained 0.54%, while the BSE Smallcap index fell 0.11% in today’s trade. Among the 13 BSE sectoral indices, seven sectoral indices closed with losses while remaining six sectors closed with gains. Top gainers were: BSE Realty up by 1.38%, BSE PSU up by 1.02%, BSE CD up 0.61%. Top losers were: BSE Bankex down 0.42%, BSE Oil&Gas down by 0.42% and BSE IT down by 0.26%.
Despite fall in the Sensex and Nifty, the market breadth was quite stable following good buying in second-line stocks as 1,066 (36.14%) stocks closed with losses while 1,093 (37.05%) ended with gains. 791 (26.81%) stocks remained unchanged.
Most Asian markets suffered losses on today as investors reacted to a weak set of earnings reports and downbeat economic data from the U.S. The Hang Seng index in Hong Kong was down 0.39 %, Kospi index was down 0.13 %, Straits Times was down 0.10%. However, the Shanghai index in China was up 0.12 %, Nikkei index in Japan was up 0.22% and Taiwan index also added 0.22%.
The European stock markets were under pressure in early trades on Thursday. The Federal Reserve on Wednesday maintained its aggressive easing program, but said growth has paused in recent months. This impacted the European markets and FTSE index in UK was down 0.73 %, the CAC index in France was down 0.87% and the DAX index in Germany declined by 0.45 %. Even markets in the U.S are trading in negative zone. Dow Jones Industrial Average is currently down by 0.22 %, while Nasdaq Composite Index is down by 0.11%.
Foreign institutional investors (FIIs) bought shares worth Rs. 906.36 crore yesterday as per provisional data from the stock exchanges. In the month of January the FII’s have infused nearly 200bn so far. However, the Domestic institutional investors have sucked out nearly 39bn during the month.
Thus the market outlook for tomorrow is not all that bright. More corrections are inevitable. Although, tomorrow being the first day of the F&O new settlement, some value based buying may be seen.
The benchmark BSE Sensex closed at 19,894.98 losing 110.02 points (0.55%). The Sensex earlier touched a high of 20,008.83 and a low of 19,865. It opened in the negative zone at 19987. The broader indices, NSE Nifty closed at 6,034 down 21 points (0.35%) over the previous close. The Nifty earlier touched a day’s high of 6,058 and a day’s low of 6,025. It opened at 6,045.
In spite of negative closing of the Indian stock market, 19 of the 30 Sensex-based scripts closed with gains while others finished with losses. Tata Power dipped by 2.17 %, ICICI Bank 1.93 %, HDFC Bank 1.87 %, Bharti Airtel 1.52 %, RIL 1.39 %, HDFC 1.37 %, L&T 1.35 %, Maruti Suzuki 1.21 %, Jindal Steel 1.16 %and HUL 1.0 %. However, shares of BHEL gained 2.36 %, Sun Pharma 1.33 %, Hero MotoCorp 1.31 % and Gail India 1.03 %.
The BSE Midcap index gained 0.54%, while the BSE Smallcap index fell 0.11% in today’s trade. Among the 13 BSE sectoral indices, seven sectoral indices closed with losses while remaining six sectors closed with gains. Top gainers were: BSE Realty up by 1.38%, BSE PSU up by 1.02%, BSE CD up 0.61%. Top losers were: BSE Bankex down 0.42%, BSE Oil&Gas down by 0.42% and BSE IT down by 0.26%.
Despite fall in the Sensex and Nifty, the market breadth was quite stable following good buying in second-line stocks as 1,066 (36.14%) stocks closed with losses while 1,093 (37.05%) ended with gains. 791 (26.81%) stocks remained unchanged.
Market outlook for tomorrow
Most Asian markets suffered losses on today as investors reacted to a weak set of earnings reports and downbeat economic data from the U.S. The Hang Seng index in Hong Kong was down 0.39 %, Kospi index was down 0.13 %, Straits Times was down 0.10%. However, the Shanghai index in China was up 0.12 %, Nikkei index in Japan was up 0.22% and Taiwan index also added 0.22%.
The European stock markets were under pressure in early trades on Thursday. The Federal Reserve on Wednesday maintained its aggressive easing program, but said growth has paused in recent months. This impacted the European markets and FTSE index in UK was down 0.73 %, the CAC index in France was down 0.87% and the DAX index in Germany declined by 0.45 %. Even markets in the U.S are trading in negative zone. Dow Jones Industrial Average is currently down by 0.22 %, while Nasdaq Composite Index is down by 0.11%.
Foreign institutional investors (FIIs) bought shares worth Rs. 906.36 crore yesterday as per provisional data from the stock exchanges. In the month of January the FII’s have infused nearly 200bn so far. However, the Domestic institutional investors have sucked out nearly 39bn during the month.
Thus the market outlook for tomorrow is not all that bright. More corrections are inevitable. Although, tomorrow being the first day of the F&O new settlement, some value based buying may be seen.
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