No respite for markets as day ends in red

Indian markets, remained volatile for the entire day today. Earlier in the day, Sensex opened over 150 points down but was able to trim its losses in the afternoon sessions.

As European markets opened lower, Indian markets also moved downwards. At the end of the day, Sensex closed at 16008.34, down 0.98 per cent. On the NSE, 50 stock Nifty index also closed the day in red down 0.95 per cent at 4805.1. FMCG, Auto and Healthcare were the only indices that closed in the positive. 

Other Asia Pacific markets ended their trading day in green on the back of positive sentiment created by the news that the IMF was considering bailing out Italy with a loan of USD 800 billion. Nikkei closed up by over 2.3 per cent while Shanghai and Hang Seng closed up by 1.23 and 1.21 per cent respectively.

European stocks have recovered from their opening losses and are trading marginally higher at this time.

Dow Jones Futures is currently trading at 11606, up 0.94% indicating a positive sentiment in the US markets. 

Back home, the realty index closed down by 2.32 per cent and was the biggest index loser. Tech, PSU, Metal, CD, Bankex and Oil and Gas were down by over 1 per cent. 

Amongst the Sensex stocks, Bajaj auto was the top gainer at 2.06 per cent. Other auto stocks such as Mahindra and Mahindra, Hero MotorCorp also closed in the green. Hindustan Unilever, Cipla, BHEL, ITC, Wipro, TCS and Tata Steel also ended in the gainers list.

Bharti Airtel on the other hand lost 3.8 per cent and was the biggest loser on the Sensex. Financial shares like HDFC Bank, which were in the gainers list in the afternoon, ended the day in red, down 1.45 per cent. 

Wockhardt scrip was up by 6.02 per cent at closing. Indiabulls Financial, Mahindra and Mahindra Finance Services were also up by over 3 per cent. Gujarat Lease and Money Matters which touched the upper circuit, held the fort for the entire day.  

The overall market breadth, which indicates the overall health of the market, remained negative. Out of a total of 3182 stocks traded, 1314 stocks advanced, 1744 stocks declined while 124 stocks remained unchanged.