Positive global cues helped the market to open above yesterday’s close, which was much with the line of expectations. However market sentiment was hit by trade deficit data showing second highest ever monthly trade deficit of $20 billion, worsening from a $17.7 billion deficit in December. Market participants and analysts being well aware that this widening current account deficit will limit scope for the Reserve Bank of India to cut interest rates, maintained a cautious approach. The overall mood in the market was that of a wait and watch ahead of inflation numbers and third quarter results by index heavyweights like SBI and Tata Motors to be announced tomorrow.
The 30-share BSE Sensex gained 47.04 points to close at 19608.08. The Sensex surged to a day's high of 19723 and a fell to a day's low of 19574. It opened at 19601. The 50-share NSE Nifty gained 10.45 points, to end at 5932.95. Nifty touched a day's high of 5,969 and a day's low of 5922. It opened at 5943.
Of the 50-share Nifty pack 20 stocks ended with gains while the rest 30 stocks closed with loses. The top 5 gainers among NSE stocks were: HCL Tech surging by 4.55 %, followed by Tata Motors (2.06 %), HDFC (1.82 %), TCS (1.80 %) and IDFC (1.55 %). The top 5 losers among NSE socks are: DLF (3.40 %), Reliance Infra (3.35 %), Sesa Goa (2.78 %), Bajaj Auto (2.76 %) and Tata Power (2.74 %).
Of the 30 shares of BSE index components, 13 stocks rose while the rest 17 stocks closed in negative zone. Top 5 gainers in BSE Sensex stocks were: Tata Motors surging by 2.11 %, followed by HDFC (1.79 %), Mahindra & Mahindra (1.59 %), TCS (1.58 %) and Infosys (1.26 %). The top 5 losers of the Sensex pack were: Sterlite Inds. (2.85 %), Bajaj Auto (2.75 %), Tata Power (2.68 %), Tata Steel (2.18 %) and GAIL (1.96 %).
Both BSE Mid Cap index declined only marginally. Among the 13 sectoral indices in BSE, only four sectors closed with gains, while nine sectors closed with losses. The top three gaining sectors were: BSE IT up by 1.29%, BSE TECk rising by 0.98% and BSE Auto surging by 0.26%. Top sectoral losers were: BSE Power down 1.56%, BSE Metal down by 1.25% and BSE Realty declining by 1.15%.
The market breadth stood negative. Of the 2973 stocks traded on the BSE, 892 (30.00 %) rose, 1229 (41.34 %) fell and 852 (28.66 %) stocks remained unchanged.
Almost all the Asian markets ended the day’s trading with smart gains today. Except Japan’s Nikkei which lost 1.04 %, all other major Asian market indices closed with gains. Hang Seng index in Hong Kong was up by 0.16 %, Straits Times posted a gain of 0.94 %, Shanghai Composite index in China was up by 0.57 %, Jakarta Composite was up by 0.51 %, Taiwan SE Weighted Index was up by 0.25 % and KOSPI Index gained 1.56 %.
European markets are mostly higher today. FTSE index in UK is up by 0.33 %, the CAC index in France is up by 0.32 %, DAX index in Germany is up by 0.67 %. However only AEX Amsterdam Index is marginally down by 0.11 %. Markets in the U.S are trading mixed till now. Dow Jones Industrial Average is trading down by 0.40 %, while the Nasdaq Composite Index is up by 0.14 %.
All eyes are now set on the WPI inflation data, scheduled to be announced tomorrow. Analysts are of the opinion that the figure is likely ease to 7 % in January; its lowest level in over three years, due to a smaller rise in prices for manufactured goods. However, it still remains well above the RBI's perceived comfort zone of around 5 per cent. Thus tomorrow much will depend on the WPI figures which under all likelihood will be as per market estimates. This will definitely help the market to inch up. However, a sharp rise is not on the cards for tomorrow.
The 30-share BSE Sensex gained 47.04 points to close at 19608.08. The Sensex surged to a day's high of 19723 and a fell to a day's low of 19574. It opened at 19601. The 50-share NSE Nifty gained 10.45 points, to end at 5932.95. Nifty touched a day's high of 5,969 and a day's low of 5922. It opened at 5943.
Of the 50-share Nifty pack 20 stocks ended with gains while the rest 30 stocks closed with loses. The top 5 gainers among NSE stocks were: HCL Tech surging by 4.55 %, followed by Tata Motors (2.06 %), HDFC (1.82 %), TCS (1.80 %) and IDFC (1.55 %). The top 5 losers among NSE socks are: DLF (3.40 %), Reliance Infra (3.35 %), Sesa Goa (2.78 %), Bajaj Auto (2.76 %) and Tata Power (2.74 %).
Of the 30 shares of BSE index components, 13 stocks rose while the rest 17 stocks closed in negative zone. Top 5 gainers in BSE Sensex stocks were: Tata Motors surging by 2.11 %, followed by HDFC (1.79 %), Mahindra & Mahindra (1.59 %), TCS (1.58 %) and Infosys (1.26 %). The top 5 losers of the Sensex pack were: Sterlite Inds. (2.85 %), Bajaj Auto (2.75 %), Tata Power (2.68 %), Tata Steel (2.18 %) and GAIL (1.96 %).
Both BSE Mid Cap index declined only marginally. Among the 13 sectoral indices in BSE, only four sectors closed with gains, while nine sectors closed with losses. The top three gaining sectors were: BSE IT up by 1.29%, BSE TECk rising by 0.98% and BSE Auto surging by 0.26%. Top sectoral losers were: BSE Power down 1.56%, BSE Metal down by 1.25% and BSE Realty declining by 1.15%.
The market breadth stood negative. Of the 2973 stocks traded on the BSE, 892 (30.00 %) rose, 1229 (41.34 %) fell and 852 (28.66 %) stocks remained unchanged.
Market outlook for tomorrow
Almost all the Asian markets ended the day’s trading with smart gains today. Except Japan’s Nikkei which lost 1.04 %, all other major Asian market indices closed with gains. Hang Seng index in Hong Kong was up by 0.16 %, Straits Times posted a gain of 0.94 %, Shanghai Composite index in China was up by 0.57 %, Jakarta Composite was up by 0.51 %, Taiwan SE Weighted Index was up by 0.25 % and KOSPI Index gained 1.56 %.
European markets are mostly higher today. FTSE index in UK is up by 0.33 %, the CAC index in France is up by 0.32 %, DAX index in Germany is up by 0.67 %. However only AEX Amsterdam Index is marginally down by 0.11 %. Markets in the U.S are trading mixed till now. Dow Jones Industrial Average is trading down by 0.40 %, while the Nasdaq Composite Index is up by 0.14 %.
All eyes are now set on the WPI inflation data, scheduled to be announced tomorrow. Analysts are of the opinion that the figure is likely ease to 7 % in January; its lowest level in over three years, due to a smaller rise in prices for manufactured goods. However, it still remains well above the RBI's perceived comfort zone of around 5 per cent. Thus tomorrow much will depend on the WPI figures which under all likelihood will be as per market estimates. This will definitely help the market to inch up. However, a sharp rise is not on the cards for tomorrow.
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