Political instability in the wake of DMK withdrawing support from the government has raised serious concerns that economic reforms may be derailed. Raising concerns over the fate of key reform bills like pension and insurance which are pending in Parliament dragged Indian equity market for the fourth consecutive session. Negative cues from overnight US markets and mixed trends in Asian market didn’t help the market sentiment either.
The 30-share BSE Sensex lost 123.91 points to end the day’s trading at 18884.19. The Sensex hit to a day's high of 19028.09 and a fell to a day's low of 18836.77. It opened at 19026.46. The broader indices, NSE Nifty lost 51.55 points, to end the day’s trading at 5694.40. The 50-share Nifty touched a day's high of 5745.30 and fell to a day's low of 5682.30. It opened at 5740.55.
Of the 50-share Nifty pack 15 stocks ended with gains while the rest 35 stocks closed with losses. The top 5 gainers among NSE stocks are: HUL by 3.34 %, followed by Asian Paints (1.70 %), Cipla (1.62 %), Tata Motors (1.44 %) and Lupin (1.04 %). The top 5 losers among NSE socks are: Reliance Infra (9.25 %), Bharti Airtel (4.55 %), J P Associates (4.27 %), IDFC (4.14 %) and DLF (4.01 %).
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: HUL surging by 3.37 %, followed by Tata Motors (1.51 %), Cipla (1.47 %), TCS (0.78 %) and Tata Power (0.66 %). The top 5 losers of the Sensex pack were: Bharti Airtel (4.18 %), SBI (3.87 %), NTPC (3.43 %), ICICI Bank (2.85 %) and Hindalco (2.80 %).
BSE Mid Cap closed lower by 1.9 %, while BSE Small Cap index was down by 2.3 %. Among the 13 sectoral indices in BSE, nine sectors closed in the red zone and only four sectors closed in the green. Top gainers among BSE sectoral indices are - BSE FMCG up 0.67%, BSE IT up 0.12% and BSE Auto up 0.07%. Top losers among BSE sectoral indices are - BSE Realty down 4.67%, BSE Power down 2.65% and BSE PSU down 2.37%.
The market breadth stood in favor of the bears. Of the 3,005 stocks traded on the BSE, 761 (25.32%) rose, 2,126 (70.75%) fell and 118 (3.93%) stocks remained unchanged.
Asian markets were mixed today. Markets in China, Jakarta and Hong Kong were positive, while markets of Korea, Taiwan and Singapore closed lower. Markets in Japan were closed today.
European markets are however trading higher. Only market in UK is trading lower. US market is heading north and has come out of the Cyprus bailout blues.
So tomorrow, Indian equity market is all set to make some recovery. The market has almost bottomed out and a journey towards north is definitely on the cards.
The 30-share BSE Sensex lost 123.91 points to end the day’s trading at 18884.19. The Sensex hit to a day's high of 19028.09 and a fell to a day's low of 18836.77. It opened at 19026.46. The broader indices, NSE Nifty lost 51.55 points, to end the day’s trading at 5694.40. The 50-share Nifty touched a day's high of 5745.30 and fell to a day's low of 5682.30. It opened at 5740.55.
Of the 50-share Nifty pack 15 stocks ended with gains while the rest 35 stocks closed with losses. The top 5 gainers among NSE stocks are: HUL by 3.34 %, followed by Asian Paints (1.70 %), Cipla (1.62 %), Tata Motors (1.44 %) and Lupin (1.04 %). The top 5 losers among NSE socks are: Reliance Infra (9.25 %), Bharti Airtel (4.55 %), J P Associates (4.27 %), IDFC (4.14 %) and DLF (4.01 %).
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: HUL surging by 3.37 %, followed by Tata Motors (1.51 %), Cipla (1.47 %), TCS (0.78 %) and Tata Power (0.66 %). The top 5 losers of the Sensex pack were: Bharti Airtel (4.18 %), SBI (3.87 %), NTPC (3.43 %), ICICI Bank (2.85 %) and Hindalco (2.80 %).
BSE Mid Cap closed lower by 1.9 %, while BSE Small Cap index was down by 2.3 %. Among the 13 sectoral indices in BSE, nine sectors closed in the red zone and only four sectors closed in the green. Top gainers among BSE sectoral indices are - BSE FMCG up 0.67%, BSE IT up 0.12% and BSE Auto up 0.07%. Top losers among BSE sectoral indices are - BSE Realty down 4.67%, BSE Power down 2.65% and BSE PSU down 2.37%.
The market breadth stood in favor of the bears. Of the 3,005 stocks traded on the BSE, 761 (25.32%) rose, 2,126 (70.75%) fell and 118 (3.93%) stocks remained unchanged.
Market outlook for tomorrow
Asian markets were mixed today. Markets in China, Jakarta and Hong Kong were positive, while markets of Korea, Taiwan and Singapore closed lower. Markets in Japan were closed today.
European markets are however trading higher. Only market in UK is trading lower. US market is heading north and has come out of the Cyprus bailout blues.
So tomorrow, Indian equity market is all set to make some recovery. The market has almost bottomed out and a journey towards north is definitely on the cards.
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