Markets have a see-saw day, close in the red
Vidrum / 09 Dec 2011
The Indian markets had a see-saw trading day. They were trading at their lowest point in the noon, but recovered from there later. However, they closed near the day’s low, giving up the earlier gains.
All the indices closed in the red zone, with Capital Goods, Auto, Oil & Gas and Power taking the most beating. Consumer Durables and Healthcare too closed marginally in the red zone.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16213.46 | -1.67 |
| Nifty | 4866.7 | -1.56 |
| Hang Seng | 18586.23 | -2.73 |
| Nikkei | 8536.46 | -1.48 |
| Shanghai | 2315.27 | -0.62 |
| Live | ||
| FTSE | 5487.6 | 0.07 |
| DAX | 5891.6 | 0.29 |
| CAC | 3112.43 | 0.55 |
Asian markets also closed in the red zone. The Hang Seng was among the big losers, down 2.73%. This was on the back of reports showing weaker economic growth in China, Japan and South Korea.
The European markets are trading in the positive zone, on the back of investor speculation that the European leaders' summit will help determine how things pan out in the Euro zone.
Dow Jones Futures is currently trading 11 points or 0.09% up at 12023, indicating a neutral to positive sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,620.85 | -48.85 | -0.86 |
| SMLCAP | 6,053.51 | -54.49 | -0.89 |
| BSE-100 | 8,393.96 | -127.04 | -1.49 |
| BSE-200 | 1,966.26 | -28.19 | -1.41 |
| BSE-500 | 6,151.79 | -84.3 | -1.35 |
| Sectors | |||
| CD | 5,704.59 | -3.59 | -0.06 |
| HC | 5,958.72 | -26 | -0.43 |
| METAL | 10,420.30 | -80.03 | -0.76 |
| PSU | 6,844.62 | -53.91 | -0.78 |
| IT | 5,733.49 | -48.52 | -0.84 |
| BANKEX | 10,157.05 | -109.79 | -1.07 |
| TECk | 3,413.38 | -38.24 | -1.11 |
| FMCG | 3,989.17 | -49.27 | -1.22 |
| REALTY | 1,577.13 | -20.91 | -1.31 |
| POWER | 1,924.94 | -35.2 | -1.8 |
| OIL&GAS | 8,021.95 | -166.83 | -2.04 |
| AUTO | 8,521.71 | -197.36 | -2.26 |
| CG | 9,394.87 | -249.23 | -2.58 |
Among the Sensex stocks, Jaiprakash Associates is among the leading Index losers, down 4.67% to Rs 63.35. Auto stocks also closed the day in the red, with the likes of Mahindra & Mahindra, Bajaj Auto and Tata Motors closing down by more than 3%. Capital Goods heavyweights, BHEL and L&T, closed the day down 3.67% and 2.85% respectively. Stocks like HDFC Bank, Bharti Airtel, HDFC, Wipro, etc. closed down more than 2%. Other stocks like SBI, TCS, DLF etc. closed marginally in the red today.
On the other hand, Coal India continued trading higher and extended its morning gains, closing 1.15% up to Rs 316.80. Others in the gainers list include Maruti Suzuki, Hindalco, Jindal Steel and NTPC, which were up in the range of 0.09%-0.86%.
Lupin closed 0.62% lower at Rs 441.10, after the company received tentative approval for generic Cymbalta delayed-release capsules.
Sun TV surged 1.22% to Rs 282.20, after the company said that it plans to launch 4 HD Channels on Dec 11, 2011.
Reliance Capital rose 0.63% to Rs 293.45, with the company in talks with international firms to sell 26% stake in its general insurance arm.
IOC jumped 1.43%, while GAIL closed marginally in the red, down 0.10%. Both companies are looking to pick up stakes in LNG projects in Africa.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 5 | 25 | 0 |
| BSE 100 | 20 | 79 | 1 |
| BSE 200 | 46 | 153 | 1 |
| BSE 500 | 128 | 361 | 11 |
| Others | 913 | 1285 | 150 |
The market breadth, which indicates the overall health of the market, was negative. Out of the 3178 stocks traded on the BSE, 1903 declined, 1112 advanced and 163 remained unchanged.
In conclusion, we expect the markets to remain volatile next week, as investors are jittery about investing in markets that fail to provide any concrete direction. Further, the RBI's monetary policy stance on Dec 16, 2011 will provide cues for the economy. Also, key US economic data (like Trade Balance) which is to be released today and the Federal budget next week will further provide insight about the US economy. We advise investors to stay cautious.
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