Markets recover from day's low
Vidrum / 18 Nov 2011
Indian markets recovered from the day's low, but ended the session in the red zone. Buying in the last hour of trade helped the markets to close sideways. Among the sectors, FMCG, realty and auto dragged the markets lower, while oil & gas, consumer durables and healthcare closed in the green, helping the markets to recover.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16371.51 | -0.55 |
| Nifty | 4905.8 | -0.60 |
| Hang Seng | 18491.23 | -1.73 |
| Nikkei | 8374.91 | -1.23 |
| Shanghai | 2416.56 | -1.89 |
| Live | ||
| FTSE | 5372.29 | -0.94 |
| DAX | 5791.04 | -1.01 |
| CAC | 2989.53 | -0.69 |
European markets are also currently trading weak after the renewed Franco-German argument, which increased concerns that the debt crisis may worsen further.
Asian markets also closed in the deep red, amid concerns about bad loans in China’s property sector and growing evidence that Europe’s debt crisis is affecting the major economies.
Dow Jones Futures is currently trading 51 points or 0.43% up at 11790, indicating a positive sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,716.45 | -59.47 | -1.03 |
| SMLCAP | 6,182.31 | -119.42 | -1.9 |
| BSE-100 | 8,466.45 | -47.79 | -0.56 |
| BSE-200 | 1,982.36 | -11.84 | -0.59 |
| BSE-500 | 6,214.08 | -39.88 | -0.64 |
| Sectors | |||
| HC | 5,918.53 | 11.42 | 0.19 |
| CD | 6,076.09 | 1.02 | 0.02 |
| OIL&GAS | 8,298.89 | 0.57 | 0.01 |
| TECk | 3,418.76 | -14.38 | -0.42 |
| CG | 9,551.01 | -46.99 | -0.49 |
| IT | 5,614.13 | -39.68 | -0.7 |
| BANKEX | 10,161.29 | -89.01 | -0.87 |
| PSU | 6,833.90 | -71.89 | -1.04 |
| POWER | 1,966.44 | -21.65 | -1.09 |
| AUTO | 8,538.32 | -103.56 | -1.2 |
| METAL | 10,433.49 | -137.67 | -1.3 |
| FMCG | 4,075.02 | -57.56 | -1.39 |
| REALTY | 1,607.07 | -26.03 | -1.59 |
Among the Sensex stocks, ITC dragged the market towards the south, closing 3% lower at Rs 201.20. Other auto stocks like Mahindra & Mahindra, Tata Motors, Bajaj Auto and Maruti Suzuki also closed in the red, down betwen 0.50%-3%. TCS, BHEL and SBI closed down by more than 2%.
On the other hand, Hero MotoCorp, Tata Power and Wipro came in as strong gainers, each up by 2%-3% per cent. Other stocks like Bharti Airtel, HUL, DLF and ONGC managed to close marginally in the green zone.
Zee Entertainment Enterprises closed 3.51% higher at Rs 117.90 after news came in that Zee Group will invest up to USD 250 million to set up a fund for the development, production and acquisition of health and wellness content for its Veria Living TV network in the US.
Among retail stocks, Pantaloon Retail surged 8.42% to Rs 198.25 and Shoppers Stop was up 1.77% at Rs 355.65 on the back of news reports that the government may allow foreign direct investment (FDI) in multi-brand retail.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 12 | 18 | 0 |
| BSE 100 | 38 | 60 | 2 |
| BSE 200 | 73 | 124 | 3 |
| BSE 500 | 165 | 329 | 6 |
| Others | 717 | 1660 | 102 |
The market breadth, which indicates the overall health of the market, was negative. Out of 3309 stocks traded on the BSE, 2191 declined, 1005 advanced and 113 remained unchanged.
In conclusion, we expect the markets to remain volatile for the next week. Investors are very jittery about investing in markets that fail to provide any concrete direction. Today, the US will release trends of the overall economic activity (its leading indicators), including employment, initial claims, permits of new housing construction etc., and these will further provides cues for the market. We advise our readers to stay cautious.
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