Markets end the day in red

Srujani Panda / 21 Oct 2011

Capital goods, realty and metals took the maximum beatings, while consumer durables was the only sector to remain positive for the day.
After moving sideways throughout the day, Indian stock markets finally ended the day in the red.

Benchmark Indices
Index Closing % Change
SENSEX 16785.64 -0.89
NIFTY 5049.95 -0.82
Hang Seng 18025.72 0.24
Nikkei 8678.89 -0.04
Shanghai 2317.28 -0.60
Live
FTSE 5417.89 0.62
DAX 5786.67 0.35
CAC 3099.77 0.51

Among the sectoral indices Capital Goods, Realty and Metals took the most beatings while Consumer Durables was the only sector to remain positive for the day.

Sectoral Indices
Category/Index Close Change(Pts) Change (%)
Broad
MIDCAP 6,111.87 -41.65 -0.68
SMLCAP 6,825.10 -41.17 -0.60
BSE-100 8,743.89 -79.05 -0.90
BSE-200 2,054.02 -18.08 -0.87
BSE-500 6,461.12 -54.56 -0.84
Sectors      
CD 6,705.95 14.92 0.22
AUTO 8,848.17 -17.32 -0.20
HC 5,928.13 -16.10 -0.27
IT 5,525.64 -21.86 -0.39
OIL&GAS 8,649.77 -39.89 -0.46
POWER 2,108.34 -10.65 -0.50
PSU 7,375.82 -45.35 -0.61
BANKEX 11,094.31 -74.96 -0.67
FMCG 3,966.40 -29.09 -0.73
TECk 3,356.94 -29.93 -0.88
METAL 11,100.19 -152.78 -1.36
CG 10,558.41 -201.81 -1.88
REALTY 1,772.54 -35.98 -1.99

European markets are trading in green as investors seek more clarity from policy makers on the European debt crisis.  Asian markets remained flat on speculation that European policy makers will struggle to reach a solution. The Dow Jones Futures is currently trading 22 points or 0.19% up at 11494 indicating a positive sentiment in the US markets.

Among the SENSEX stocks Bajaj Auto and Hero MotoCorp traded higher in the range of 1.20 to 1.50%. Maruti Suzuki was up 1.5% at Rs 1092.30 after the strike at Manesar Plant ended. Other stocks like BHEL, SBI and TCS were also among the Index gainers. Metal stocks like Hindalco, Jindal Steel and Tata Steel were down in the range of 1.60 to 2.6%. DLF, Tata Motors and Bharti Airtel were among the losers list, which were down by more than 2%.

Godrej Consumer Products consolidated Net Profit declined by 2.6% YoY to Rs 127.71 crore as higher tax expense and foreign exchange loss offset strong sales growth of 23.34%. The scrip ended 1.50% down at Rs 403.85

L&T shares slipped by 4% to Rs 1330.70 post its Q2FY1 numbers. Companies’ top-line increased by 20% to Rs 11375 crore and bottom line increased by 15% to Rs 798 crore. However, company dropped its EBITDA margins by 34 basis points to 10.44%. Further company expects margin contraction by 75 to 125 basis points from earlier 50 to 75 basis points for FY12.   
Shares of Hindustan Construction Company were down by 3% at Rs 26.40 after it reported a net loss of Rs 40.53 crore in Q2FY12 versus a profit of Rs 12.13 crore last year.

We advise our reader to keep track of companies like Axis bank, Grasim, Suzlon Energy announcing their their Q2FY12 numbers tomorrow.  

BSE clocked a turnover of Rs 2334 crore, lower than Rs 2580 crore on 20th October 2011. The market breadth, indicating the overall health of the market, was negative. Out of 3250 stocks traded, 1935 stocks declined while 1184 advanced. A total of 131 stocks remained unchanged.

In conclusion we believe the market will remain volatile for next week ahead of expiry. The key events to watch next week would be meeting of European leaders to tackle the debt crisis and the RBI’s meet on the monetary policy stance.

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