In spite of a better than expected January IIP (Index for Industrial Production) numbers, Indian stock market moved lower for the second consecutive day, due to accelerating consumer inflation numbers which dashed hopes of a rate cut by RBI in upcoming Monetary Policy review on March 19. January industrial production rose at a stronger-than-expected 2.4 percent from a year earlier, nearly double the 1.2 per cent forecast by analysts. However, Consumer Price Inflation (CPI) rose to 10.91 per cent from 10.79 percent in January diluted the market hope of a 50bps rate cut by RBI. Weakness in Asian markets and negative global cues also affected the sentiment.
The 30-share BSE Sensex lost 81.29 points to end the day’s trading at 19564.92. The Sensex hit to a day's high of 19697.84 and a fell to a day's low of 19505.75. It opened at 19675.81. The broader indices, NSE Nifty lost 28.25 points, to end the day’s trading at 5914.10. The 50-share Nifty touched a day's high of 5952.00 and fell to a day's low of 5893.65. It opened at 5944.60.
Of the 50-share Nifty pack 14 stocks ended with gains while the rest 36 stocks closed with loses. The top 5 gainers among NSE stocks are: Ranbaxy surging by 2.50 %, followed by Ambuja Cement (1.55 %), ACC (1.39 %), HUL (1.23 %) and Tata Motors (1.04 %). The top 5 losers among NSE socks are: Cairn India (3.15 %), Tata Power (3.06 %), BHEL (2.31 %), Bharti Airtel (2.12 %) and Siemens (1.79 %).
Of the 30 shares of BSE index components, 9 stocks ended in positive terrain, while the rest 21 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: HUL surging by 1.16 %, followed by Tata Motors (0.96 %), Jindal Steel (0.62 %), ITC (0.59 %) and Reliance (0.45 %). The 5 losers of the Sensex pack were: Tata Power (3.12 %), Bharti Airtel (2.13 %), BHEL (2.12 %), HDFC Bank (1.79 %) and Bajaj Auto (1.55 %).
Both BSE Mid Cap and Small Cap index closed losses of 0.5 % each. Among the 13 sectoral indices of BSE, two sectors closed in the green zone while remaining eleven sectors closed in the red zone. The 2 gainers in BSE sectoral index were - BSE FMCG up by 0.49% and BSE Auto up by 0.08%. Top 3 losers among the BSE sectoral index were - BSE CD down by 1.99%, BSE Power down by 1.36% and BSE Realty declining by 1.24%.
The market breadth stood in favor of the bears. Of the 3021 stocks traded on the BSE, 1205 (39.89%) rose, 1688 (55.88%) fell and 128 (4.24%) stocks remained unchanged.
Asian markets were mostly down today. Japan’s Nikkei lost 0.28 % in today’s trade, Hang Sang index in Hong Kong lost 0.87 %, China’s Shanghai Composite ended lower by 1.04 %, and KOSPI Index was lower by 0.50 %. Markets in Taiwan were lower by 0.55 % today and Straits Times gained 0.31 %. Markets in Jakarta remained closed.
European markets are trading mixed today. FTSE index in UK is trading higher by 0.11 %, the CAC index in France is up by 0.10 %, DAX index in Germany is trading lower by 0.23 % and AEX Amsterdam Index is down by 0.14 %. US stock markets are trading lower. Dow Jones Industrial Average is trading down by 0.09 %, while Nasdaq Composite Index is trading lower by 0.46 %.
For tomorrow the market outlook for Indian market seems to be negative. Market seems to be consolidating for a fresh northward journey. However, decline in markets may be used as an opportunity to invest.
The 30-share BSE Sensex lost 81.29 points to end the day’s trading at 19564.92. The Sensex hit to a day's high of 19697.84 and a fell to a day's low of 19505.75. It opened at 19675.81. The broader indices, NSE Nifty lost 28.25 points, to end the day’s trading at 5914.10. The 50-share Nifty touched a day's high of 5952.00 and fell to a day's low of 5893.65. It opened at 5944.60.
Of the 50-share Nifty pack 14 stocks ended with gains while the rest 36 stocks closed with loses. The top 5 gainers among NSE stocks are: Ranbaxy surging by 2.50 %, followed by Ambuja Cement (1.55 %), ACC (1.39 %), HUL (1.23 %) and Tata Motors (1.04 %). The top 5 losers among NSE socks are: Cairn India (3.15 %), Tata Power (3.06 %), BHEL (2.31 %), Bharti Airtel (2.12 %) and Siemens (1.79 %).
Of the 30 shares of BSE index components, 9 stocks ended in positive terrain, while the rest 21 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: HUL surging by 1.16 %, followed by Tata Motors (0.96 %), Jindal Steel (0.62 %), ITC (0.59 %) and Reliance (0.45 %). The 5 losers of the Sensex pack were: Tata Power (3.12 %), Bharti Airtel (2.13 %), BHEL (2.12 %), HDFC Bank (1.79 %) and Bajaj Auto (1.55 %).
Both BSE Mid Cap and Small Cap index closed losses of 0.5 % each. Among the 13 sectoral indices of BSE, two sectors closed in the green zone while remaining eleven sectors closed in the red zone. The 2 gainers in BSE sectoral index were - BSE FMCG up by 0.49% and BSE Auto up by 0.08%. Top 3 losers among the BSE sectoral index were - BSE CD down by 1.99%, BSE Power down by 1.36% and BSE Realty declining by 1.24%.
The market breadth stood in favor of the bears. Of the 3021 stocks traded on the BSE, 1205 (39.89%) rose, 1688 (55.88%) fell and 128 (4.24%) stocks remained unchanged.
Market outlook for tomorrow
Asian markets were mostly down today. Japan’s Nikkei lost 0.28 % in today’s trade, Hang Sang index in Hong Kong lost 0.87 %, China’s Shanghai Composite ended lower by 1.04 %, and KOSPI Index was lower by 0.50 %. Markets in Taiwan were lower by 0.55 % today and Straits Times gained 0.31 %. Markets in Jakarta remained closed.
European markets are trading mixed today. FTSE index in UK is trading higher by 0.11 %, the CAC index in France is up by 0.10 %, DAX index in Germany is trading lower by 0.23 % and AEX Amsterdam Index is down by 0.14 %. US stock markets are trading lower. Dow Jones Industrial Average is trading down by 0.09 %, while Nasdaq Composite Index is trading lower by 0.46 %.
For tomorrow the market outlook for Indian market seems to be negative. Market seems to be consolidating for a fresh northward journey. However, decline in markets may be used as an opportunity to invest.
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