Cautiousness among investors and market participants ahead of the release of key macroeconomic data, such as January industrial output figure and February wholesale price inflation numbers forced the market to trade lower. The key Indian stock market indices opened higher today but traded in a tight range for most part of the day swinging between gains and losses. However in late hours of day’s trade, market moved traded lower owing to weak opening of the European markets and report from an industry body suggests that car sales in India posted their biggest monthly slump in February in more than 12 years.
The 30-share BSE Sensex lost 37.02 points to end the day’s trading at 19646.21. The Sensex hit to a day's high of 19754.66 and a fell to a day's low of 19602.71. It opened at 19679.88. The broader indices, NSE Nifty lost 3.35 points, to end the day’s trading at 5942.35. The 50-share Nifty touched a day's high of 5971.20 and fell to a day's low of 5830.35. It opened at 5946.10.
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 are: Siemens surging by 5.52 %, followed by DLF (2.97 %), Tata Power (2.38 %), HDFC (2.26 %) and Asian Paint (1.93 %). The top 5 losers among NSE socks are: Hero MotoCorp (2.62 %), IDFC (1.53 %), BPCL (1.37 %), Bajaj Auto (1.35 %) and Wipro (1.30 %).
Of the 30 shares of BSE index components, 11 stocks ended in positive terrain, while the rest 19 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: Tata Power surging by 2.28 %, followed by HDFC (1.91 %), Sun Pharma (1.79 %), M&M (1.10 %) and Gail (0.97 %). The top 5 losers of the Sensex pack were: Hero MotoCorp (2.51 %), Wipro (1.35 %), Bajaj Auto (1.33 %), Jindal Steel (1.24 %) and TCS (1.05 %).
Both BSE Mid Cap and Small Cap index closed with marginal gains. Among BSE sectoral indices, 4 sectors closed with gains, while 9 sectors closed with losses. Top 3 gainers among BSE sectoral index are - BSE Realty up by 1.32%, BSE CG up by 0.59%, BSE Healthcare up by 0.53% and BSE Power up by 0.52%. Top 3 losers amongst BSE sectoral indices are - BSE CD down by 1.38%, BSE IT down by 0.67% and BSE Metal down by 0.56%.
The market breadth stood in favor of the bears. Of the 3003 stocks traded on the BSE, 1395 (46.45%) rose, 1474 (49.08%) fell and 134 (4.46%) stocks remained unchanged.
Asian markets were mixed today with a negative bias. Japan’s Nikkei gained 0.53 % in today’s trade. Jakarta Composite lost 0.41 %, Hang Sang index in Hong Kong lost 0.02 %, China’s Shanghai Composite ended lower by 0.35 %, and KOSPI Index was lower by 0.13 %. Markets in Taiwan were higher by 0.29 % today and Straits Times gained 0.10 %.
European markets are trading lower today. FTSE index in UK is however trading higher by 0.23 %, the CAC index in France is down by 0.13 %, DAX index in Germany is trading only marginally lower by 0.01 % and AEX Amsterdam Index is down by 0.26 %. US stock markets are mixed today. Dow Jones Industrial Average is trading higher by 0.19 %, while Nasdaq Composite Index is however trading lower by 0.03 %.
Organisation for Economic Cooperation and Development (OECD) in its report on economic outlook in major industrialized economies, said that growth indications in India is slowing down. The report which was out on Monday also said that economic growth is improving globally with the United States and Japan leading the way.
After posting its second-highest ever monthly trade deficit of $20 billion in January, India's trade deficit narrows to $14.92 billion in February as export rose and import fell in comparison to the last month. Market was expecting a near $17-19 billion deficit. Commerce Secretary S.R. Rao said the deficit is lower due to a pick-up in exports, adding that the government is taking measures to help push up exports.
Reserve Bank of India governor Duvvuri Subbarao on Friday rejected high inflation as the "new normal", sparking concerns the central bank would be more hawkish on interest rates.
Tomorrow’s macroeconomic figures will play a major role in shaping the market trend in short term. For tomorrow the global cues being negative, market may witness some profit booking. However, market is all set to move north in medium to short term.
The 30-share BSE Sensex lost 37.02 points to end the day’s trading at 19646.21. The Sensex hit to a day's high of 19754.66 and a fell to a day's low of 19602.71. It opened at 19679.88. The broader indices, NSE Nifty lost 3.35 points, to end the day’s trading at 5942.35. The 50-share Nifty touched a day's high of 5971.20 and fell to a day's low of 5830.35. It opened at 5946.10.
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 are: Siemens surging by 5.52 %, followed by DLF (2.97 %), Tata Power (2.38 %), HDFC (2.26 %) and Asian Paint (1.93 %). The top 5 losers among NSE socks are: Hero MotoCorp (2.62 %), IDFC (1.53 %), BPCL (1.37 %), Bajaj Auto (1.35 %) and Wipro (1.30 %).
Of the 30 shares of BSE index components, 11 stocks ended in positive terrain, while the rest 19 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: Tata Power surging by 2.28 %, followed by HDFC (1.91 %), Sun Pharma (1.79 %), M&M (1.10 %) and Gail (0.97 %). The top 5 losers of the Sensex pack were: Hero MotoCorp (2.51 %), Wipro (1.35 %), Bajaj Auto (1.33 %), Jindal Steel (1.24 %) and TCS (1.05 %).
Both BSE Mid Cap and Small Cap index closed with marginal gains. Among BSE sectoral indices, 4 sectors closed with gains, while 9 sectors closed with losses. Top 3 gainers among BSE sectoral index are - BSE Realty up by 1.32%, BSE CG up by 0.59%, BSE Healthcare up by 0.53% and BSE Power up by 0.52%. Top 3 losers amongst BSE sectoral indices are - BSE CD down by 1.38%, BSE IT down by 0.67% and BSE Metal down by 0.56%.
The market breadth stood in favor of the bears. Of the 3003 stocks traded on the BSE, 1395 (46.45%) rose, 1474 (49.08%) fell and 134 (4.46%) stocks remained unchanged.
Market outlook for tomorrow
Asian markets were mixed today with a negative bias. Japan’s Nikkei gained 0.53 % in today’s trade. Jakarta Composite lost 0.41 %, Hang Sang index in Hong Kong lost 0.02 %, China’s Shanghai Composite ended lower by 0.35 %, and KOSPI Index was lower by 0.13 %. Markets in Taiwan were higher by 0.29 % today and Straits Times gained 0.10 %.
European markets are trading lower today. FTSE index in UK is however trading higher by 0.23 %, the CAC index in France is down by 0.13 %, DAX index in Germany is trading only marginally lower by 0.01 % and AEX Amsterdam Index is down by 0.26 %. US stock markets are mixed today. Dow Jones Industrial Average is trading higher by 0.19 %, while Nasdaq Composite Index is however trading lower by 0.03 %.
Organisation for Economic Cooperation and Development (OECD) in its report on economic outlook in major industrialized economies, said that growth indications in India is slowing down. The report which was out on Monday also said that economic growth is improving globally with the United States and Japan leading the way.
After posting its second-highest ever monthly trade deficit of $20 billion in January, India's trade deficit narrows to $14.92 billion in February as export rose and import fell in comparison to the last month. Market was expecting a near $17-19 billion deficit. Commerce Secretary S.R. Rao said the deficit is lower due to a pick-up in exports, adding that the government is taking measures to help push up exports.
Reserve Bank of India governor Duvvuri Subbarao on Friday rejected high inflation as the "new normal", sparking concerns the central bank would be more hawkish on interest rates.
Tomorrow’s macroeconomic figures will play a major role in shaping the market trend in short term. For tomorrow the global cues being negative, market may witness some profit booking. However, market is all set to move north in medium to short term.
No comments:
Post a Comment