Markets close in red, shed over 2%
Vidrum / 08 Dec 2011
The Indian markets had a disappointing day, as both the bourses shed more than 2% today. The Nifty breached the psychological 5K mark and closed down 119 points at 4943.
Good inflation numbers also could not do much to cheer up the market sentiment. Primary Articles' inflation decreased by 82 bps to 6.92% for the week ended Nov 26, 2011. Food inflation dropped to 6.6% versus 8%, while Fuel inflation remained unchanged at 15.53%. All the indices closed in the red zone, with Capital Goods, Realty, Metals and Power taking most of the beating.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16445.75 | -2.56 |
| Nifty | 4943.65 | -2.35 |
| Hang Seng | 19107.81 | -0.69 |
| Nikkei | 8664.58 | -0.66 |
| Shanghai | 2329.82 | -0.12 |
| Live | ||
| FTSE | 5560.04 | 0.24 |
| DAX | 6034.07 | 0.66 |
| CAC | 3187.66 | 0.37 |
The other Asian markets also closed in the red zone. The Hang Seng and Nikkei were down 0.69% and 0.66% respectively, while the Chinese markets closed marginally in the red.
European markets are trading in the positive territory on speculations that the European leaders will take steps to solve the sovereign debt crisis.
Dow Jones Futures is currently trading 21 points or 0.17% down at 12193, indicating a negative sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,669.70 | -102.1 | -1.77 |
| SMLCAP | 6,108.00 | -99.9 | -1.61 |
| BSE-100 | 8,521.00 | -191.59 | -2.2 |
| BSE-200 | 1,994.45 | -44.02 | -2.16 |
| BSE-500 | 6,236.09 | -133.69 | -2.1 |
| Sectors | |||
| HC | 5,984.72 | -22.05 | -0.37 |
| IT | 5,782.01 | -26.74 | -0.46 |
| TECk | 3,451.62 | -36.41 | -1.04 |
| CD | 5,708.18 | -90.14 | -1.55 |
| AUTO | 8,719.07 | -144.75 | -1.63 |
| FMCG | 4,038.44 | -74.2 | -1.8 |
| PSU | 6,898.53 | -170.89 | -2.42 |
| BANKEX | 10,266.84 | -285.67 | -2.71 |
| OIL&GAS | 8,188.78 | -251.88 | -2.98 |
| POWER | 1,960.14 | -60.95 | -3.02 |
| METAL | 10,500.33 | -341.37 | -3.15 |
| REALTY | 1,598.04 | -63.14 | -3.8 |
| CG | 9,644.10 | -444.16 | -4.4 |
Among the Sensex stocks, Jaiprakash Associates is among the leading index losers, down 6% to Rs 66.05. Capital Goods heavyweights, BHEL and L&T, closed the day down by more than 5%. The Metals pack, which includes Sterlite Industries, Hindalco, Tata Steel etc., were down in the range of 3.41%-5%. Other stocks like DLF, RIL, SBI, ITC and Coal India etc. closed the day down by more than 3% each.
Only 4 Index companies were in the gainers list today. Wipro was the leading gainer, up 2.34% to Rs 413.20. Other stocks like Sun Pharma, Cipla and Bajaj Auto closed higher in the range of 0.37%-1.47%.
UTV Software closed 2.61% up at Rs 975.70, after the govt. approved Walt Disney's proposal to fully acquire the media firm.
Everonn Education rose 1.05% to Rs 350.40, on the news of its Open Offer which commences on Dec 12, 2011.
BS Transcomm plunged by 4.04% to Rs 124.60, despite the company bagging orders worth Rs 244 cr.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 5 | 25 | 0 |
| BSE 100 | 13 | 87 | 0 |
| BSE 200 | 26 | 174 | 0 |
| BSE 500 | 74 | 424 | 2 |
| Others | 770 | 1486 | 112 |
The market breadth, which indicates the overall health of the market, was negative. Out of the 3198 stocks traded on the BSE, 2196 declined, 888 advanced and 114 remained unchanged.
In conclusion, we expect the markets to remain volatile as of now, 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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