It was a day of predictable trading in the Indian stock market. Indian market failed to rope in with any surprise and as predicted the trading started on a weak note and weakness prevailed throughout the day. A weak closing of the Asian markets on the back of a steep fall on Wall Street yesterday on Eurozone worries, weakened the Indian market sentiment further. The fact that the major Indian stock market indices failed to even float above yesterday’s close speaks in itself as to how weak the market sentiment was.
Extending losses for the fourth straight day, the benchmark BSE Sensex closed at 19659.82 shedding 91.37 points. The Sensex had earlier touched a day's high of 19717 and a day's low of 19631. It opened at 19665. The 50-share Nifty slipped 30.35 points to end at 5956.90. Nifty fluctuated between a high of 5,970.35 and a low of 5,946.90. It opened at 5,948.
A fall in ITC, RIL, ICICI Bank and Tata Motors that declined in the range of 1.1 to 1.6 %, together extracted over 80 points from the Sensex. Bhel was the worst Sensex performer as it lost over 3.1 per cent today. Other major losers of the 30-share Sensex pack was Bharti Airtel (1.93 %), Sterlite Industries (1.73 %), Tata Motors (1.64 %), ITC (1.58 %), Tata Power (1.50 %), Hero MotoCorp (1.42 %), ICICI Bank (1.23 %), Jindal Steel (1.22 %), Reliance Industries (1.13 %) and Dr Reddy's Laboratories (1.07 %). However, Sun Pharma rose by 4.06 %, followed by Gail India (1.64 %), Bajaj Auto (1.49 %) and Cipla (1.18 %).
JP Associates, BHEL, Bank of Baroda, Tata Power, BPCL, Bharti Airtel, HCL Tech, Tata Motors, Sesa Goa and Jindal Steel were the top losers from the 50-share Nifty pack. The biggest gainer of the Nifty pack in today's trading was Sun Pharma, which rallied by over 4 per cent following excellent December quarter numbers.
All the 13 BSE sectoral indices closed with losses, except BSE Healthcare which was the only gaining sector up by 0.86%. Top losers were - BSE CD down by 1.57%, BSE FMCG down by 1.03%, BSE Power down by 0.75%.
The market breadth stood in favor of declines. Of the 2953 stocks traded on the BSE, 819 (27.73%) rose, 1417 (47.99%) fell and 717 (24.28%) stocks remained unchanged.
Almost all the Asian markets closed in red zone today due to sharp fall in the U.S market yesterday. Only the Shanghai Composite index in China ended up higher by 0.20 %, Nikkei index in Japan closed down by 1.90%, Straits Times ended lower by 0.75 %. Taiwan index closed lower by 0. 46 %, Jakarta Composite shaded 0.25 %, Hang Seng index in Hong Kong ended lower by 2.27 % and Kospi index lost 0.77 %.
Markets in the Europe are mostly higher today. European shares and the euro steadied on today, a day after a sharp sell-off caused by rising political risks in southern Europe, as new data confirmed the region's economy is showing clear signs of recovery. FTSE index in UK is up by 0.58%%, the CAC index in France is up by 0.95 %, the DAX index in Germany is also up by 0.35. However AEX Amsterdam Index is lower by 0.36 %.
US stocks is on the rise today, with the Dow breaking above 14,000, as earnings came in stronger than expected and investors sought bargains a day after shares' biggest drop since November. Dow Jones Industrial Average is currently up by 0.75 %, while Nasdaq Composite Index is up by 1.04 %.
Positive global cues will certainly lift the Indian stock market sentiment tomorrow and the market is all set to close much above today’s close. So tomorrow Indian market will witness a sharp bounce back and may even make most of its loss of 345.18 points made in the last four trading sessions.
Extending losses for the fourth straight day, the benchmark BSE Sensex closed at 19659.82 shedding 91.37 points. The Sensex had earlier touched a day's high of 19717 and a day's low of 19631. It opened at 19665. The 50-share Nifty slipped 30.35 points to end at 5956.90. Nifty fluctuated between a high of 5,970.35 and a low of 5,946.90. It opened at 5,948.
A fall in ITC, RIL, ICICI Bank and Tata Motors that declined in the range of 1.1 to 1.6 %, together extracted over 80 points from the Sensex. Bhel was the worst Sensex performer as it lost over 3.1 per cent today. Other major losers of the 30-share Sensex pack was Bharti Airtel (1.93 %), Sterlite Industries (1.73 %), Tata Motors (1.64 %), ITC (1.58 %), Tata Power (1.50 %), Hero MotoCorp (1.42 %), ICICI Bank (1.23 %), Jindal Steel (1.22 %), Reliance Industries (1.13 %) and Dr Reddy's Laboratories (1.07 %). However, Sun Pharma rose by 4.06 %, followed by Gail India (1.64 %), Bajaj Auto (1.49 %) and Cipla (1.18 %).
JP Associates, BHEL, Bank of Baroda, Tata Power, BPCL, Bharti Airtel, HCL Tech, Tata Motors, Sesa Goa and Jindal Steel were the top losers from the 50-share Nifty pack. The biggest gainer of the Nifty pack in today's trading was Sun Pharma, which rallied by over 4 per cent following excellent December quarter numbers.
All the 13 BSE sectoral indices closed with losses, except BSE Healthcare which was the only gaining sector up by 0.86%. Top losers were - BSE CD down by 1.57%, BSE FMCG down by 1.03%, BSE Power down by 0.75%.
The market breadth stood in favor of declines. Of the 2953 stocks traded on the BSE, 819 (27.73%) rose, 1417 (47.99%) fell and 717 (24.28%) stocks remained unchanged.
Outlook for tomorrow’s trading
Almost all the Asian markets closed in red zone today due to sharp fall in the U.S market yesterday. Only the Shanghai Composite index in China ended up higher by 0.20 %, Nikkei index in Japan closed down by 1.90%, Straits Times ended lower by 0.75 %. Taiwan index closed lower by 0. 46 %, Jakarta Composite shaded 0.25 %, Hang Seng index in Hong Kong ended lower by 2.27 % and Kospi index lost 0.77 %.
Markets in the Europe are mostly higher today. European shares and the euro steadied on today, a day after a sharp sell-off caused by rising political risks in southern Europe, as new data confirmed the region's economy is showing clear signs of recovery. FTSE index in UK is up by 0.58%%, the CAC index in France is up by 0.95 %, the DAX index in Germany is also up by 0.35. However AEX Amsterdam Index is lower by 0.36 %.
US stocks is on the rise today, with the Dow breaking above 14,000, as earnings came in stronger than expected and investors sought bargains a day after shares' biggest drop since November. Dow Jones Industrial Average is currently up by 0.75 %, while Nasdaq Composite Index is up by 1.04 %.
Positive global cues will certainly lift the Indian stock market sentiment tomorrow and the market is all set to close much above today’s close. So tomorrow Indian market will witness a sharp bounce back and may even make most of its loss of 345.18 points made in the last four trading sessions.
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