Markets shed previous gains

The Indian markets have lost all of yesterday's gains in the opening trade today, with the Sensex falling below the 16000 mark by over 200 points, while the Nifty is down by 60 points following weak global cues.

In the US, the stocks ended in the red on Tuesday, Nov 22, as investors undermined the market moods for slower-than-expected Q3 economic growth in the U.S.

Asian markets are mostly trading lower as on Wednesday, Nov 23, after a negative lead from Wall Street. The Euro also added to concerns ahead of the release of manufacturing data from China. Japanese markets are closed on Wednesday.

The European bourses ended lower on Tuesday, following an expensive bond auction for Spain.

All the 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 and Tata Motors were all down 1-2%.

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

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