Boosted by positive trend in most Asian markets, the stock market indices in India too opened on a firm positive note. US jobs and manufacturing data boosted the Asian market sentiment and Indian markets followed the cue in the morning session. But weak opening of the European markets in the afternoon and report of rise in the non-performing assets (NPA's) by Bank of Baroda and Indian Bank weighed heavily on the market sentiment. By the close of the day’s trading, the Indian stock market indices erased all its early gains and fell for the third consecutive session.
The 30-share BSE Sensex closed lower by 30 points at 19,751.19 - to three-week low. The Sensex had earlier touched a day's high of 19902 and a day's low of 19728. It opened at 19860. The 50-share NSE Nifty ended lower by 11.65 points at 5,987.25 – below the psychological level of 6,000 for the second consecutive day.
Profit booking in stocks of heavyweights such as BHEL, SBI, RIL, ITC, ONGC, Cipla and Dr Reddy's Lab dragged down the market, while rise in stock prices of HDFC, Tata Motors, ICICI Bank and HDFC Bank restricted Sensex fall to some extent. BHEL was the top loser from the pack - down 2.73 %, followed by Cipla 2.64 %, SBI 2.41 %, Tata Power 2.29 %, ONGC 2.08 %, Sterlite 2.01 %, Dr Reddy's Lab 1.99 %, Tata Steel 1.43 %, Coal India 1.31 %, GAIL 1.09 %, RIL 0.79 % and ITC 0.73 %. However, HDFC rose by 2.49 %, Tata Motors by 2.40 % and ICICI Bank by 0.94 %.
The BSE-Midcap and the BSE-Smallcap indices closed lower by 0.83 %and 0.71 % respectively. Among the BSE sectoral indices, 12 out of 13 sectoral indices closed with losses. Top losers were: BSE-PSU down by 1.56 %, BSE HC down by 1.40 %, BSE Power down by 1.36 %, BSE Oil&Gas eased by 1.12 % and BSE Metal down by 1.11 %. Only BSE Auto closed in positive.
The market breadth stood in favor of declines. Of the 3005 stocks traded on the BSE, only 886 (29.48%) rose, 1308 (43.53%) fell and 811 (26.99%) stocks remained unchanged.
Most of the Asian markets ended with smart gains today on the back of upbeat U.S. employment data. Stock market in Japan also rose on good earnings reports while the markets in China edged higher after data showed an improvement in services sector data. However, South Korean stocks fell as a strengthened won weighed on sentiment toward the nation’s exporters.
The Shanghai Composite index in China ended up higher by 0.38 %, Nikkei index in Japan closed higher by 0.62%, Straits Times ended up higher by 0.19 %. Taiwan index added 0. 86 % and Jakarta Composite inched up by 0.20 %. However, the Hang Seng index in Hong Kong ended lower by 0.16 % and Kospi index lost 0.23 %.
Markets in the Europe are heading to a close with heavy losses. FTSE index in UK is down by 1.58%%, the CAC index in France is down by 3.01 %, the DAX index in Germany is also down by 1.58 AEX and the Amsterdam Index is lower by 1.65 %. Even markets in the U.S are trading in negative zone. Dow Jones Industrial Average is currently down by 0.83 %, while Nasdaq Composite Index is down by 1.11 %.
On the back of such negative cues, Indian market is all set to open well below today’s close. And will even move lower unless and until some real positive news boost the market sentiment. But at this point also, the overall market sentiment is quite positive and investment made at this dip will yield definitely yield good return in short term.
The 30-share BSE Sensex closed lower by 30 points at 19,751.19 - to three-week low. The Sensex had earlier touched a day's high of 19902 and a day's low of 19728. It opened at 19860. The 50-share NSE Nifty ended lower by 11.65 points at 5,987.25 – below the psychological level of 6,000 for the second consecutive day.
Profit booking in stocks of heavyweights such as BHEL, SBI, RIL, ITC, ONGC, Cipla and Dr Reddy's Lab dragged down the market, while rise in stock prices of HDFC, Tata Motors, ICICI Bank and HDFC Bank restricted Sensex fall to some extent. BHEL was the top loser from the pack - down 2.73 %, followed by Cipla 2.64 %, SBI 2.41 %, Tata Power 2.29 %, ONGC 2.08 %, Sterlite 2.01 %, Dr Reddy's Lab 1.99 %, Tata Steel 1.43 %, Coal India 1.31 %, GAIL 1.09 %, RIL 0.79 % and ITC 0.73 %. However, HDFC rose by 2.49 %, Tata Motors by 2.40 % and ICICI Bank by 0.94 %.
The BSE-Midcap and the BSE-Smallcap indices closed lower by 0.83 %and 0.71 % respectively. Among the BSE sectoral indices, 12 out of 13 sectoral indices closed with losses. Top losers were: BSE-PSU down by 1.56 %, BSE HC down by 1.40 %, BSE Power down by 1.36 %, BSE Oil&Gas eased by 1.12 % and BSE Metal down by 1.11 %. Only BSE Auto closed in positive.
The market breadth stood in favor of declines. Of the 3005 stocks traded on the BSE, only 886 (29.48%) rose, 1308 (43.53%) fell and 811 (26.99%) stocks remained unchanged.
Market outlook for tomorrow
Most of the Asian markets ended with smart gains today on the back of upbeat U.S. employment data. Stock market in Japan also rose on good earnings reports while the markets in China edged higher after data showed an improvement in services sector data. However, South Korean stocks fell as a strengthened won weighed on sentiment toward the nation’s exporters.
The Shanghai Composite index in China ended up higher by 0.38 %, Nikkei index in Japan closed higher by 0.62%, Straits Times ended up higher by 0.19 %. Taiwan index added 0. 86 % and Jakarta Composite inched up by 0.20 %. However, the Hang Seng index in Hong Kong ended lower by 0.16 % and Kospi index lost 0.23 %.
Markets in the Europe are heading to a close with heavy losses. FTSE index in UK is down by 1.58%%, the CAC index in France is down by 3.01 %, the DAX index in Germany is also down by 1.58 AEX and the Amsterdam Index is lower by 1.65 %. Even markets in the U.S are trading in negative zone. Dow Jones Industrial Average is currently down by 0.83 %, while Nasdaq Composite Index is down by 1.11 %.
On the back of such negative cues, Indian market is all set to open well below today’s close. And will even move lower unless and until some real positive news boost the market sentiment. But at this point also, the overall market sentiment is quite positive and investment made at this dip will yield definitely yield good return in short term.
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