Markets close in the green after a bumpy ride
Chandrakant / 13 Dec 2011
After opening on a negative note, the Indian markets remained volatile throughout the day. They finally ended in the green zone, with the Sensex and Nifty up 0.83% and 0.76% respectively. The volatile markets conditions were amid global news flows, especially those coming in from the European region.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16002.51 | 0.83 |
| Nifty | 4800.6 | 0.76 |
| Hang Seng | 18413.52 | -0.88 |
| Nikkei | 8574.66 | -0.92 |
| Shanghai | 2261.15 | -1.34 |
| Live | ||
| FTSE | 5448.19 | 0.37 |
| DAX | 5809.49 | 0.41 |
| CAC | 3091.46 | 0.06 |
The European markets continued their woes over the debt crisis. The worry came after the news broke that rating agency Moody’s will review all EU member states in the first quarter of 2012, as well as eight Spanish banks. There are also expectations of global ratings agency, Fitch, lowering the credit ratings after assessing that the solution by the European leaders will not stem the crisis. After the meeting of the European leaders on Friday, Dec 9, 2011, Fitch said that the comprehensive plan to contain the debt crisis will put pressure on the nation’s debt ratings. The markets later recovered some of the early losses, and were marginally down. The recovery came after investors started buying the beaten down stocks, following the sharp fall witnessed on Monday, Dec 12, 2011.
Asian markets were among the major sellers after the news. They closed in the negative zone, as investors were seen concerned on the ongoing news over the European debt crisis.
Among the sectoral indices back home, Metals continue to lead with gains of more than 2.7%. This was on the back of fresh buying after continuous selling in the last one week. Other indices like Auto, Oil & Gas, Power, Realty, Bankex, FMCG, Tech, IT and HC remained positive, with marginal gains between 0.25%-1.41%.
On the other hand, the Consumer Goods and Consumer Durables indices were down by 0.41% and 1.93% respectively.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,492.88 | -21.03 | -0.38 |
| SMLCAP | 5,928.38 | -32.10 | -0.54 |
| BSE-100 | 8,302.26 | 85.07 | 1.04 |
| BSE-200 | 1,942.68 | 17.96 | 0.93 |
| BSE-500 | 6,071.75 | 47.60 | 0.79 |
| Sectors | |||
| METAL | 10,262.31 | 273.59 | 2.74 |
| AUTO | 8,421.71 | 117.29 | 1.41 |
| OIL&GAS | 7,906.01 | 108.80 | 1.40 |
| POWER | 1,898.62 | 24.15 | 1.29 |
| REALTY | 1,552.29 | 17.22 | 1.12 |
| PSU | 6,719.16 | 64.74 | 0.97 |
| BANKEX | 9,938.16 | 83.55 | 0.85 |
| FMCG | 3,993.18 | 29.68 | 0.75 |
| TECk | 3,427.64 | 23.56 | 0.69 |
| IT | 5,820.39 | 32.57 | 0.56 |
| HC | 5,922.92 | 14.89 | 0.25 |
| CG | 9,127.62 | -37.85 | -0.41 |
| CD | 5,480.99 | -107.90 | -1.93 |
Sensex heavyweights Hindalco and Jindal Steel continued to lead the 30-share Sensex, with gains of more than 4.78% and 4.26% respectively. NTPC is also leading, up with 3.28% gains. Other stocks like Bajaj Auto, Bharti Airtel, BHEL, DLF, Tata Power and Tata Steel closed with gains between 1%-2%. Index heavyweight, RIL, gained 2% after investors bought the beaten down shares in the last one week.
L&T, ONGC and ICICI Bank continued to remained among the losers, shedding between 0.3%-1.9% each.
Dow Jones Futures is currently trading 109 points or 0.90% down at 12101, indicating a negative sentiment in the US markets.
The market breadth, which indicates the overall health of the market, was negative. Out of a total of 3178 stocks traded on the BSE, 1635 declined, 1381 advanced and 162 remained unchanged.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 22 | 8 | 0 |
| BSE 200 | 132 | 65 | 3 |
| BSE 100 | 68 | 31 | 1 |
| BSE 500 | 253 | 237 | 10 |
| Others | 906 | 1294 | 148 |
In conclusion, we expect the markets to continue to remain volatile as investors are jittery about investing in volatile markets that fail to provide any concrete direction. We advise our readers to stay cautious.
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