Sensex continues to trade lower
Srujani Panda / 18 Oct 2011
The Indian benchmark market continues to trade lower. Today Benchmark index opened lower and extended the losses in the later trades as well. Indices from all other sectors are trading lower, with IT and Tack taking the most beatings. Markets are impacted by the concerns raised by Germany over the quick fix solution to the European debt crisis.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5,382.97 | -0.99 |
| DAX | 5,829.85 | -0.5 |
| CAC | 3,127.70 | -1.21 |
| Hang Seng | 18,076.46 | -4.23 |
| Nikkei | 8,741.91 | -1.55 |
| Shanghai | 2,383.49 | -2.33 |
| SENSEX | 16743.73 | -1.65 |
| NIFTY | 5033.95 | -1.65 |
TCS which was down in the earlier trades has further slipped down by 8.24 per cent. Among the Auto space, shares of Hero Motorcar are marginally higher by 0.30 per cent as investors await the quarterly result today. Other Auto stocks like Tata Motors, Bajaj Auto and Mahindra & Mahindra are trading in red. Coal India is among the gainers list and is trading 1.73 per cent higher. Tata Power and NTPC are the two power stocks in the gainers list. HDFC is marginally up over its Q2 results as we wrote in our morning updates. Infosys which had rallied over its Q2 results has lowered in the trades today by 1.93 per cent. Petronet LNG which announced its quarterly results today was up by 1.04 per cent.
Meanwhile, European stock markets have also opened lower on second successive date over the growing concerns of debt crisis. Asian markets tumbled as Chinese economy recorded slowest growth rate in last two years.
On the sectoral front, BSE IT index was the top looser which declined by 4.04 per cent or 229 points to 5,441 on back of lower than expected quarterly results from software giant TCS. Tack index also fell by 111 points to 3,323. Metals, Reality, Capital Goods, Consumer Durable, Banked, Auto, Oil & Gas indices were down by between 1-2 per cent each.
The market breadth, indicating the overall health of the market, is negative. On BSE, 2406 shares declined and 770 shares advanced. A total of 114 shares remained unchanged.
In conclusion, we expect the markets to behave in a negative manner towards there is no positive coming on the European debt crisis. Beside latest data shows that Chinese economy has slowed down which imposes a big risk to the world economy.
Meanwhile, European stock markets have also opened lower on second successive date over the growing concerns of debt crisis. Asian markets tumbled as Chinese economy recorded slowest growth rate in last two years.
On the sectoral front, BSE IT index was the top looser which declined by 4.04 per cent or 229 points to 5,441 on back of lower than expected quarterly results from software giant TCS. Tack index also fell by 111 points to 3,323. Metals, Reality, Capital Goods, Consumer Durable, Banked, Auto, Oil & Gas indices were down by between 1-2 per cent each.
The market breadth, indicating the overall health of the market, is negative. On BSE, 2406 shares declined and 770 shares advanced. A total of 114 shares remained unchanged.
In conclusion, we expect the markets to behave in a negative manner towards there is no positive coming on the European debt crisis. Beside latest data shows that Chinese economy has slowed down which imposes a big risk to the world economy.
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