Markets shed yersterdays gain in the opening trade

The Indian markets have lost all the yesterdays gain in the opening trade with Sensex falling below 16000 mark by over 200 points while Nifty is down by 60 points following weak global cues.  In US, stocks ended in the red on Tuesday, as investors undermined the mood in markets for slower-than-expected third quarter economic growth in the U.S.

Asian markets were mostly lower on Wednesday after a negative lead from Wall Street, while the euro added worries ahead of the release of manufacturing data from China. Japan markets remained closed on Wednesday.

European bourses ended lower on Tuesday, 22 November 2011, following an expensive bond auction for Spain.

All 30 stocks in the Sensex were in the red tick. Bharti Airtel, BHEl, Tata Motors, Hindalco, Tata Steel, Sterlite, JP Associates, DLF, HDFC Bank, SBI, Infosys, Reliance Industries, Tata motors were down 1-2% each.

The market breadth, indicating the overall health of the market, is very weak. On BSE, 1199 shares fell and 751 shares rose. A total of 56 shares remained unchanged.

In conclusion, we expect the market to remain negative for the day. Also European markets will provide some vital cues on the desired direction of the market trend in late afternoon session. Nevertheless we shall keep updating you regularly through our market commentary.