Markets recover from day's low
Vidrum / 16 Nov 2011
The Indian markets recovered from the day’s lows but ended in the red zone, down by less than 1%. Among the sectors, capital goods, power and oil & gas dragged the market down, while FMCG, consumer durables and metals helped the market recover from its days low.
European markets moved into the green, and are trading in a narrow zone as investors digested the earnings report.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16775.87 | -0.63 |
| Nifty | 5030.45 | -0.75 |
| Hang Seng | 18960.9 | -2.00 |
| Nikkei | 8463.16 | -0.92 |
| Shanghai | 2466.96 | -2.48 |
| Live | ||
| FTSE | 5520.67 | 0.06 |
| DAX | 5968.06 | 0.59 |
| CAC | 3067.63 | 0.61 |
The other Asian markets closed in the deep red. The Hang Seng and Shanghai were down more than 2%, while Nikkei closed down by 1%. This was after the Italian bond yield rose, amidst concerns that Italy’s new government would struggle to trim its debt and would thus worsen the Euro debt crisis.
Dow Jones Futures is currently trading 33 points or 0.25% up at 12071, indicating a positive sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,851.92 | -55.27 | -0.94 |
| SMLCAP | 6,374.79 | -86.59 | -1.34 |
| BSE-100 | 8,682.89 | -61.88 | -0.71 |
| BSE-200 | 2,032.73 | -15.41 | -0.75 |
| BSE-500 | 6,368.99 | -49.26 | -0.77 |
| Sectors | |||
| CD | 6,171.76 | 34.32 | 0.56 |
| FMCG | 4,194.95 | 21.15 | 0.51 |
| METAL | 10,840.21 | 15.84 | 0.15 |
| REALTY | 1,673.22 | 1.94 | 0.12 |
| AUTO | 8,798.44 | -10.11 | -0.11 |
| BANKEX | 10,402.63 | -33.59 | -0.32 |
| TECk | 3,465.69 | -21.54 | -0.62 |
| PSU | 7,055.94 | -52.34 | -0.74 |
| HC | 5,990.63 | -50.5 | -0.84 |
| IT | 5,696.14 | -52.78 | -0.92 |
| OIL&GAS | 8,589.61 | -110.27 | -1.27 |
| POWER | 2,046.71 | -42.09 | -2.02 |
| CG | 9,812.87 | -395.94 | -3.88 |
Among the Sensex stocks, L&T and BHEL took the most beating, with each down 3.5%. Jaiprakash Asso., Hero MotoCorp, Sun Pharma, etc. were down by more than 2%. IT heavyweights like Wipro, Infosys and TCS also were in the negative territory.
Metal stocks like Jindal Steel and Tata Steel were up 3% and 1% respectively. After being beaten down in the past trading sessions, buying was seen in SBI and Mahindra & Mahindra, both of which closed approximately 2% higher today. Other stocks like NTPC, HUL, Tata Motors, etc. were marginally up in the green zone.
Everonn Education closed 4.36% down to Rs 335.30, as its Open Offer, which was to open today, got delayed.
Titan Industries surged 2.89% higher to Rs 211.90, after the company signed an agreement with Spain’s Valfamily S.L. and Switzerland’s Maison Favre Leuba S.A to acquire the watches brand 'Favre Leuba' for up to Euro 2 million.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 11 | 19 | 0 |
| BSE 100 | 41 | 59 | 0 |
| BSE 200 | 68 | 132 | 0 |
| BSE 500 | 166 | 329 | 5 |
| Others | 733 | 1608 | 101 |
The market breadth, which indicates the overall health of the market, was negative. Out of the 3272 stocks traded on the BSE, 2147 declined, 1019 advanced and 106 stocks remained unchanged.
In conclusion, we expect the markets to continue with this volatility. Investors should also watch out for key economic data like that of inflation from the Euro zone and that for industrial production from the US, which would be released soon.
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