Daily market review

It was a day of clueless low volume trading at the Indian stock market. Market participants preferred to stay away from the market ahead of the outcome of finance minister of G-20 meeting to sort out a solution to revive slowing economic. Fear of a populist union budget ignoring increasing deficit figure is also dampening the market sentiment. Weakness in Asian markets and a lower opening of the markets in Europe also weighed heavily on the sentiment of the market. It was another weak and volume-less trading day with negativity hovering all over the Dalal Street. After a negative start, the market did show some signs of revival in the late afternoon trades as it cheered a ruling of the Andhra Pradesh High Court in favor of French drug multinational Sanofi Aventis. The upswing was short-lived as every rise was used to offload position.

The 30-share BSE Sensex lost 29.03 points to close at 19,468.15. The Sensex surged to a day's high of 19512 and a fell to a day's low of 19381. It opened at 19449. The broader indices, NSE Nifty lost 9.55 points, to end at 5887.40. The 50-share Nifty touched a day's high of 5899 and a day's low of 5853. It opened at 5869.

Of the 50-share Nifty pack 23 stocks ended with gains while the rest 27 stocks closed with loses. The top 5 gainers among NSE stocks were: Tata Motors surging by 2.44 %, followed by IDFC (2.17 %), Tata Power (1.63 %), Bharti Airtel (1.59 %) and GAIL (1.23 %). The top 5 losers among NSE socks are: Dr. Reddy (2.96 %), Cairn (2.59 %), DLF (2.03 %), BPCL (2.03 %) and Bajaj Auto (1.61 %).

Of the 30 shares of BSE index components, 14 stocks ended in positive terrain, 15 stocks closed in negative zone and 1 stock remained unchanged. Top 5 gainers in BSE Sensex stocks were: Tata Motors surging by 2.48 %, followed by Tata Power (1.79 %), Bharti Airtel (1.23 %), Sterlite (1.22 %) and GAIL (0.99 %). The top 5 losers of the Sensex pack were: Dr. Reddy (3.20 %), Bajaj Auto (1.41 %), Tata Steel (1.21 %), Reliance (1.20 %) and Infosys (0.99 %).

Bucking market trend, BSE Mid Cap index closed marginally above yesterday’s close. However,  Small Cap Index declined by 1.00 %. Among the 13 sectoral indices in BSE, only 4 sectors closed with gains, while 9 sectors closed with lose. The three gaining sectors were: BSE Auto up by 0.43%, BSE Bankex up by 0.21%, BSE FMCG surging by 0.11%. Top three sectoral losers were: BSE Oil&Gas down by 0.83%, BSE IT falling by 0.58% and BSE HC down by 0.30%

The advance decline ratio was also in favor of the bears, indicating a broad-based decline. Of the 2964 stocks traded on the BSE, 896 (30.23%) rose, 1234 (41.63%) fell and 834 (28.14%) stocks remained unchanged.

Asian markets showed mixed tend. Hang Seng index in Hong Kong moved up by 0.13 %, Jakarta Composite was up by 0.46 %, and KOSPI Index gained 0.08 %. However Japan’s Nikkei lost1.18 % and Straits Times lost 0.22 %.

European markets also showed mixed trend today. The CAC index in France is down by 0.24 % while DAX index in Germany is down by 0.53 %. However, FTSE index in UK is up by 0.15 % and AEX Amsterdam Index is marginally up by 0.72 %. Markets in the U.S are trading only marginally up.