Sensex slips below 16000 on weak global cues
Chandrakant / 21 Nov 2011
Indian stock markets ended the day in red with Sensex closing below the 16000 mark and Nifty at 4778 (both down by 2.5 %.) With rupee breaching the 52/USD mark, stock market sentiment has been bruised even further.
Weak Asian & European markets contributed to the fall today. European markets opened in red on concerns that US Lawmakers may fail to reach an agreement on budget cuts, raising the prospect that America may face another credit downgrade.
| Benchmark Indices | ||
| Index | Closing | % Change |
| SENSEX | 15946.1 | -2.60 |
| NIFTY | 4778.35 | -2.60 |
| Hang Seng | 18225.85 | -1.44 |
| Nikkei | 8348.27 | -0.32 |
| Shanghai | 2415.13 | -0.06 |
| Live | ||
| FTSE | 5256.49 | -1.98 |
| DAX | 5667.54 | -2.29 |
| CAC | 2926.47 | -2.35 |
All the BSE sectoral Indices ended the day in red with sectors like Metal, Bankex and Realty taking a huge hit at over 3 per cent down. Other sectoral indices were down anywhere between 1-2.7 per cent.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,610.31 | -106.14 | -1.86 |
| SMLCAP | 6,078.66 | -103.65 | -1.68 |
| BSE-100 | 8,255.46 | -210.99 | -2.49 |
| BSE-200 | 1,934.56 | -47.80 | -2.41 |
| BSE-500 | 6,068.66 | -145.42 | -2.34 |
| Sectors | |||
| FMCG | 4,041.57 | -33.45 | -0.82 |
| HC | 5,855.25 | -63.28 | -1.07 |
| CG | 9,336.40 | -214.61 | -2.25 |
| PSU | 6,676.37 | -157.53 | -2.31 |
| TECk | 3,337.08 | -81.68 | -2.39 |
| IT | 5,478.33 | -135.80 | -2.42 |
| CD | 5,915.76 | -160.33 | -2.64 |
| OIL&GAS | 8,079.88 | -219.01 | -2.64 |
| AUTO | 8,309.61 | -228.71 | -2.68 |
| POWER | 1,912.86 | -53.58 | -2.72 |
| REALTY | 1,558.23 | -48.84 | -3.04 |
| BANKEX | 9,831.83 | -329.46 | -3.24 |
| METAL | 10,072.39 | -361.10 | -3.46 |
Asian markets also closed in the red amid concerns over the European debt crisis as it continues to undermine the sentiment of the investors.
Dow Jones Futures is currently trading at 11621, down 146 points or 1.25%, indicating a negative sentiment in the US markets.
Back home, TATA Motors and BHEL remained the top amongst the top losers in the Sensex, closing with a 5% loss. Sterlite Industries, Tata Steel, Jindal Steel, DLF, Bajaj Auto, and ONGC also fell between 2.62-4.5% each. .
Bharti Airtel fell 2.30% after the Central Bureau of Investigation (CBI) conducted searches at the company's office in Gurgaon.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 2 | 28 | 0 |
| BSE 200 | 24 | 174 | 2 |
| BSE 100 | 9 | 90 | 1 |
| BSE 500 | 83 | 413 | 4 |
| Others | 703 | 1561 | 131 |
The market breadth, indicating the overall health of the market, was very negative. Out of 3225 stocks traded, 2266 declined while 821 stocks advanced. A total of 138 stocks remained unchanged.
In conclusion, we at DSIJ expect the markets to remain negative as investors remain jittery about investing in markets, that fail to provide any concrete direction. We advise our readers to remain cautious.
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