Markets end on a volatile note

Chandrakant / 22 Nov 2011

Indian markets remained volatile for most of the day, and came off from their intraday high, with the Sensex and Nifty both ending lower than 1%.

Indian markets remained volatile for most of the day, and came off from their intraday high, with the Sensex and Nifty both ending below 1%. The Sensex remained above the 16000 psychological mark though. The marginal recovery in the rupee from an all-time low and the positive opening of the European market helped Indian market to remain positive.

Index heavyweights like Reliance Industries, BHEL, and Coal India have been trading up, with gains between 1.04%-1.68%.

Benchmark Indices
Index Closing % Change
Sensex 16065.42 0.75
Nifty 4812.35 0.71
Hang Seng 18251.59 0.14
Nikkei 8314.74 -0.40
Shanghai 2412.62 -0.10
Live
FTSE 5248.09 0.49
DAX 5655.76 0.88
CAC 2916.25 0.73

The Asian stock markets recovered from the day’s low, and ended with marginal losses. They remained in the negative territory for most of the day, on the back of concerns from Europe and the US.

European stocks are trading on a positive note, and have rebounded after a 3.3% drop in the previous session. However, the region's debt crisis kept investors on the edge.

Dow Jones Futures is currently trading 7 points or 0.06% down at 11518, indicating a negative sentiment in the US markets.

Among the BSE sectoral indices, IT and Metals were the top gainers of the day, up by 1.92% and 1.72% respectively. All indices barring FMCG and Consumer durables ended the day with gains between 0.22%-1.16%. Consumer Durables and FMCG remained the losers for the day, falling by 2.69% and 1.43% respectively.

Sectoral Indices
Category/Index Close Change(Pts) Change (%)
Broad
MIDCAP 5629.33 19.02 0.34
SMLCAP 6080.57 1.91 0.03
BSE-100 8304.14 48.68 0.59
BSE-200 1946.45 11.89 0.61
BSE-500 6101.74 33.08 0.55
Sectors      
IT 5585.40 107.07 1.95
METAL 10227.92 155.53 1.54
AUTO 8399.20 89.59 1.08
TECk 3372.52 35.44 1.06
HC 5912.42 57.17 0.98
OIL&GAS 8151.59 71.71 0.89
PSU 6715.14 38.77 0.58
BANKEX 9886.23 54.40 0.55
REALTY 1563.52 5.29 0.34
CG 9362.99 26.59 0.28
POWER 1907.69 -5.17 -0.27
FMCG 3986.57 -55.00 -1.36
CD 5728.89 -186.87 -3.16
 
Tata Motors remained the top performer among the 30-share Sensex, and ended with a gain of more than 6%.

Amongst the IT stocks, Infosys, TCS and Wipro all rose between 1.70%-2.33%. The depreciation in the rupee to a fresh 32-month low of 52.15 against the dollar on Monday, Nov 21, spurred the IT stocks. The weak rupee boosts revenues of IT firms in rupee terms, as a major share of revenue comes from exports.

Other Sensex stocks such as HDFC, Tata Steel, JP Associates, SBI, ICICI Bank and DLF gained between 0.93-4.28%.

However, Bharti Airtel ended the day in the red. The stock was among the top losers, with losses of more than 2%.

The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1563 shares rose, 1520 fell and 136 remained unchanged.

Advance-Decline Table
Index Advances Declines Unchanged
BSE 30 18 12 0
BSE 200 132 66 2
BSE 100 63 36 1
BSE 500 283 209 8
Others 1067 1197 125

In conclusion, we expect the markets to remain volatile in the coming session as investors are jittery about investing in markets that fail to provide any concrete direction. We advise our readers to stay cautious.

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