Markets recover marginally, but remain in the red

Chandrakant / 15 Dec 2011

After hitting the lowest level, the markets ended the day with some recovery, with both the indices closing down by 0.3%. The Sensex closed below the 16000 mark and the Nifty managed to hold the crucial 4700 levels.

Indian markets remained volatile today. After hitting the lowest level, the markets ended the day with some recovery, with both the indices closing down by 0.3%. The Sensex closed below the 16000 mark and the Nifty managed to hold the crucial 4700 levels.

The recovery came after the release of the primary article inflation numbers for the week, which came down to 5.48% from 6.92% (WoW). The weak Asian markets and later, the European markets, contributed to the fall later in the day.

Benchmark Indices
Index Closing % Change
Sensex 15836.47 -0.28
Nifty 4746.35 -0.35
Hang Seng 18026.84 -1.82
Nikkei 8377.37 -1.69
Shanghai 2180.9 -0.19
Live
FTSE 5378.99 0.23
DAX 5701.3 0.46
CAC 2984.1 0.27

Asian markets slumped in today’s trade, over concerns on slow economic growth in China and Japan. Further, the US Fed's decision to keep the policy rate unchanged in a bid to boost the economy raised worries about the trajectory of global growth. 

The European markets opened the day with marginal gains, as investors are still worried about the health of the economy, which is facing huge debt issues.

In a weak economic environment and concerns from global markets, most of the BSE's sectoral indices ended the day in the red. Sectors like Auto, CD, and CG took most of the beating, and were down by over 1%-1.5% each. The other sectoral indices like Realty, IT, Tech and Bankex were down between 0.3%-1 per cent. The rest were marginally up between 0.1%-0.87%.

Sectoral Indices
Category/Index Close Change(Pts) Change (%)
Broad
MIDCAP 5,369.61 -60.44 -1.11
SMLCAP 5,781.04 -88.94 -1.52
BSE-100 8,178.50 -20.30 -0.25
BSE-200 1,912.34 -6.09 -0.32
BSE-500 5,974.13 -24.19 -0.40
Sectors      
FMCG 4,025.14 24.43 0.61
POWER 1,862.59 10.44 0.56
OIL&GAS 7,853.89 35.92 0.46
PSU 6,578.62 3.58 0.05
HC 5,894.13 2.88 0.05
METAL 9,940.59 -28.76 -0.29
REALTY 1,497.38 -7.75 -0.51
IT 5,770.17 -32.94 -0.57
TECk 3,389.45 -31.93 -0.93
BANKEX 9,728.21 -96.28 -0.98
AUTO 8,168.23 -102.05 -1.23
CD 5,310.32 -87.27 -1.62
CG 8,811.57 -171.13 -1.91

Among the Sensex shares, Cipla, DLF, HDFC, Hindustan Unilever, JP Associates, Jindal Steel, and Maruti Suzuki ended with gains between 0.5-2% each. All the other stocks closed with losses between 0.5%-3% each. Tata Motors outperformed today, closing down with gains more than 4%. On the other hand, Bharti Airtel was the top loser, down by 3.40%.

Dow Jones Futures is currently trading 7 points or 0.06% up at 11769, indicating a positive sentiment in the US markets.

The market breadth, which indicates the overall health of the market, was negative. Out of the 3172 stocks traded on the BSE, 2015 declined, 1025 advanced and 132 remained unchanged.

Advance-Decline Table
Index Advances Declines Unchanged
BSE 30 13 17 0
BSE 200 75 122 3
BSE 100 43 55 2
BSE 500 149 346 5
Others 745 1475 122

In conclusion, we expect the markets to remain volatile. Investors will watch out for the outcome of the monetary review tomorrow, which will give a clear picture of the RBI's stance on the interest rate. We advise our readers to stay cautious.

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