Sensex down 1.4%, Europe also opens in the red
Shrikant / 19 Dec 2011
The Indian markets have continued trading in the negatives today. Currently, the Sensex is trading down by 1.41%, while the 50 share Nifty is trading lower by 1.48%.
The Indian markets have continued trading in the negatives today. The sustained negative performance of the market comes after the weak economic indicators. The not-so-great advance tax numbers during the last quarter, coupled with the weak rupee, have caused a negative sentiment in the markets. A pause in interest rate hikes was also not enough to turn the negative tides. Currently, the Sensex is trading down by 1.41%, while the 50 share Nifty is trading lower by 1.48%.
The other Asian indices have also continued to trade in negatives, after the credit rating agencies have indicated a review of the Euro zone countries. The Nikkei and Hang Seng are both seen trading down by over 1%, while Shanghai is trading down by 0.30% at this hour.
Meanwhile, European markets have also opened in the negative.
Benchmark Indices
Index
Rate
% Change
FTSE
5,363.49
-0.44%
CAC
2,959.83
-0.42%
DAX
5,684.57
-0.30%
Hang Seng
18,070.75
-1.17%
Nikkei
8,296.12
-1.26%
Shanghai
2,218.24
-0.30%
Sensex
15,273.14
-1.41%
Nifty
4,582.70
-1.48%
Among the sectoral indices, Oil & Gas is still trading flat. FMCG has turned from the negative to the positive zone, and is up marginally by 0.41%. Power, Bankex, Realty and CG have further lost value, and are the top losers among the indices.
Only 7 of the Sensex stocks are trading in the green, while the rest are in the red zone. Tata Motors is up by over 2% at the moment. Hindustan Unilever, Bharti Airtel, Coal India, ITC, Cipla and RIL are the only other stocks that are trading with marginal profits. DLF is the top loser, down by 4.39%. L&T and ICICI Bank are also seen trading down by over 4%.
Among others, Wockhardt has lost over 10%, followed by Allahabad Bank, which is down by over 8%. On the other hand, Lanco Infra is seen trading up by over 2%.
IT major TCS has laid the foundation of a Rs 600 cr software development facility in Nagpur, Maharashtra. Shriram EPC has won an order worth Rs 488 crore from NMDC.
The overall market breadth, which indicates the overall health of the market, is negative. Out of the total of 3025 stocks traded, 2357 declined and 591 advanced, while 77 stocks remained unchanged.
We expect the market to remain volatile for the rest of the day.
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