The Indian stock market joined the global sell off after the surprise decision by euro zone leaders to partially fund a bailout of Cyprus by taxing bank deposits. The Euro zone struck a deal to hand Cyprus a bailout worth 10bn euro, but demanded depositors in its banks forfeit some money to avoid bankruptcy. The depositors sent shockwaves through financial markets on Monday by shaking depositors' confidence in banks across Europe. Sentiment was also hit after Moody's Investors Service said India's sustained food inflation was a negative for the country's sovereign ratings as it exacerbated macroeconomic imbalances. Market participants also remained jittery ahead of the RBI policy meet scheduled to be held tomorrow.
The 30-share BSE Sensex lost 134.36 points to end the day’s trading at 19293.20. The Sensex hit to a day's high of 19345.42 and a fell to a day's low of 19,232.23. It opened at 19282.63. The broader indices, NSE Nifty lost 37.35 points, to end the day’s trading at 5835.25.The 50-share Nifty touched a day's high of 5850.20 and fell to a day's low of 5814.35. It opened at 5816.75.
Of the 50-share Nifty pack 10 stocks ended with gains while the rest 40 stocks closed with losses. The top 5 gainers among NSE stocks are: CIPLA by 1.98 %, followed by Siemens (1.59 %), CAIRN India (1.40 %), HCL Tech (1.28 %) and HUL (1.06 %). The top 5 losers among NSE socks are: Coal India (5.53 %), IDFC (3.46 %), Tata Power (3.34 %), Ambuja Cement (3.30 %) and Maruti (3.25 %).
Of the 30 shares of BSE index components, 6 stocks ended in positive terrain, while the rest 24 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: CIPLA surging by 1.70 %, followed by HUL (1.20 %), HDFC Bank (0.75 %), ITC (0.66 %) and Hero MotoCorp (0.18 %). The 5 losers of the Sensex pack were: Coal India (5.41 %), Tata Power (3.43 %), GAIL (3.16 %), Maruti (2.98 %) and Sterlite (2.68 %).
Both BSE Mid Cap and Small Cap index closed wih losses. BSE Mid Cap closed lower by 0.3 % while BSE Small Cap was down by 0.7 %. Among the 13 sectoral indices in BSE, 10 sectors closed with losses, while the remaining 3 sectors managed to tide over yesterday’s close and end in positive zone in today’s trade. Top three gainers in BSE sectoral indices are - BSE FMCG up by 0.68%, BSE CD rising by 0.32% and BSE HC up 0.30%. Top three losers amnong BSE sectoral index are - BSE Metal down by 2.34%, BSE PSU down by 1.64% and BSE Auto down by 1.44%.
The market breadth stood in favor of the bears. Of the 2969 stocks traded on the BSE, 1091 (36.75%) rose, 1757 (59.18%) fell and 121 (4.08%) stocks remained unchanged.
Most of the Asian markets today closed losses. European markets were also lower. Even markets in the US is also down.
Under this above circumstances, outlook for today’s Indian market seems to be negative as well. However, if RBI does not with some rate cut, markets will plunge more into red territory.
The 30-share BSE Sensex lost 134.36 points to end the day’s trading at 19293.20. The Sensex hit to a day's high of 19345.42 and a fell to a day's low of 19,232.23. It opened at 19282.63. The broader indices, NSE Nifty lost 37.35 points, to end the day’s trading at 5835.25.The 50-share Nifty touched a day's high of 5850.20 and fell to a day's low of 5814.35. It opened at 5816.75.
Of the 50-share Nifty pack 10 stocks ended with gains while the rest 40 stocks closed with losses. The top 5 gainers among NSE stocks are: CIPLA by 1.98 %, followed by Siemens (1.59 %), CAIRN India (1.40 %), HCL Tech (1.28 %) and HUL (1.06 %). The top 5 losers among NSE socks are: Coal India (5.53 %), IDFC (3.46 %), Tata Power (3.34 %), Ambuja Cement (3.30 %) and Maruti (3.25 %).
Of the 30 shares of BSE index components, 6 stocks ended in positive terrain, while the rest 24 stocks closed in negative zone. The top 5 gainer in BSE Sensex stocks are: CIPLA surging by 1.70 %, followed by HUL (1.20 %), HDFC Bank (0.75 %), ITC (0.66 %) and Hero MotoCorp (0.18 %). The 5 losers of the Sensex pack were: Coal India (5.41 %), Tata Power (3.43 %), GAIL (3.16 %), Maruti (2.98 %) and Sterlite (2.68 %).
Both BSE Mid Cap and Small Cap index closed wih losses. BSE Mid Cap closed lower by 0.3 % while BSE Small Cap was down by 0.7 %. Among the 13 sectoral indices in BSE, 10 sectors closed with losses, while the remaining 3 sectors managed to tide over yesterday’s close and end in positive zone in today’s trade. Top three gainers in BSE sectoral indices are - BSE FMCG up by 0.68%, BSE CD rising by 0.32% and BSE HC up 0.30%. Top three losers amnong BSE sectoral index are - BSE Metal down by 2.34%, BSE PSU down by 1.64% and BSE Auto down by 1.44%.
The market breadth stood in favor of the bears. Of the 2969 stocks traded on the BSE, 1091 (36.75%) rose, 1757 (59.18%) fell and 121 (4.08%) stocks remained unchanged.
Market outlook for tomorrow
Most of the Asian markets today closed losses. European markets were also lower. Even markets in the US is also down.
Under this above circumstances, outlook for today’s Indian market seems to be negative as well. However, if RBI does not with some rate cut, markets will plunge more into red territory.
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