Markets end the day in red

After opening on a weak note, Indian markets remained volatile throughout the day, and finally ended in the red zone. Both the indices were down by 1.03% and 0.98% respectively. The volatile market conditions were amid global news, especially those from the European region.

The European markets continued their woes over the debt crisis. Lower credit ratings have resulted in higher bond yield, which will make borrowings more costly and put additional burden on the current burgeoning debt levels. The markets extended their early losses, and were marginally down. Concerns rose over the statement of the German Chancellor, expressing views against the ECB Euro bonds to contain the Euro debt crisis, which spread negative sentiments among investors globally. The rating agencies' downgrade of Portugal and Hungary damaged the mood further.

Asian markets too, closed in the negative zone, as investors were seen concerned over the ongoing European debt crisis.

Sensex heavyweights BHEL and L&T continue to lead the 30-share Sensex, with gains of more than 3.45% and 3.4% respectively. DLF is also leading, up with 3.4% gains, after the news that the company is going to invest in building new shopping malls over the next 5 years (PTI report).

Among the major losers, TCS, Tata Steel, Sun Pharma, Sterlite Industries, Reliance, Maruti Suzuki, Infosys, HUL, Hindalco and Hero MotoCorp were all down with losses between 2-3%.

Dow Jones Futures is currently trading 59 points or 0.53% down at 11175, indicating a negative sentiment in the US markets.

The market breadth, which indicates the overall health of the market, was positive. Out of the 3208 stocks traded on the BSE, 1685 advanced, 1410 declined and 119 stocks remained unchanged.