Markets recover from day's low, but end in the red
Vidrum / 28 Dec 2011
The Indian markets witnessed a highly volatile trading day today. The markets started the day on a quiet note, and then went into the deep red. At the close of business, they recovered from the day's low and finished down by almost 1%.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 15727.85 | -0.92 |
| Nifty | 4705.8 | -0.94 |
| Hang Seng | 18518.67 | -0.59 |
| Nikkei | 8423.62 | -0.20 |
| Shanghai | 2170.01 | 0.18 |
| Live | ||
| FTSE | 5537.55 | 0.45 |
| DAX | 5863.67 | -0.44 |
| CAC | 3119.54 | 0.53 |
The Asian markets closed the session in a mixed bag. Shanghai closed very flat, though still in the green, while the Nikkei and Hang Seng closed in the red zone. Earlier, the Chinese markets were in the negative territory after the news that higher money markets rates will increase the cost of borrowings.
European markets are trading in a very narrow range before the Italy debt auction. Italy is going to sell approximately 20 billion Euros of debt today and tomorrow. FTSE and CAC are trading in the green, while DAX is in the negative territory.
Dow Jones Futures is currently trading 14 points or 0.11% up at 12233, indicating a positive sentiment in the US markets.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5,137.18 | -55.18 | -1.06 |
| SMLCAP | 5,586.55 | -63.47 | -1.12 |
| BSE-100 | 8,049.34 | -76.47 | -0.94 |
| BSE-200 | 1,876.55 | -18.48 | -0.98 |
| BSE-500 | 5,851.48 | -57.37 | -0.97 |
| Sectors | |||
| POWER | 1,825.52 | 14.06 | 0.78 |
| CG | 8,273.55 | 26.13 | 0.32 |
| IT | 5,778.41 | -4.07 | -0.07 |
| HC | 5,833.07 | -4.19 | -0.07 |
| TECk | 3,395.32 | -3.07 | -0.09 |
| PSU | 6,336.95 | -47.76 | -0.75 |
| REALTY | 1,414.44 | -11.01 | -0.77 |
| CD | 5,354.78 | -49.22 | -0.91 |
| FMCG | 4,075.17 | -40.03 | -0.97 |
| AUTO | 8,209.06 | -90.81 | -1.09 |
| OIL&GAS | 7,847.96 | -129.67 | -1.63 |
| BANKEX | 9,303.93 | -188.27 | -1.98 |
| METAL | 9,334.61 | -195.74 | -2.05 |
Among the Sensex stocks, Jindal Steel extended its morning losses and remained the major index loser, closing down by 7.07% to Rs 454.95. Others in the Metals pack also showed lacklustre performance, with stocks like Hindalco and Sterlite Industries closing down by 2.51% and 1.91% respectively. ICICI Bank nosedived 3.88% to Rs 697.15. Mahindra & Mahindra, Wipro and SBI were among the other losers that closed down by more than 2%. On the other hand, stocks like NTPC, BHEL, Tata Power remained in the green for the entire day, and finally closed the session up in the range of 1.61%-2.68%. Others like Sun Pharma, L&T, Bharti Airtel, Hero MotoCorp, Coal India etc. closed the day marginally in the green.
MBL Infra surged up by 7.63% to Rs 114.90, after the news that company has received 5 orders aggregating to Rs 315.80 cr across various segments. Glenmark Pharma closed 0.16% up to Rs 280.20, after the company obtained approval of pivotal trials from the Drug Controller General of India (DCGI). ICSA India surged 2.94% to Rs 21, after the news that the board is going to pursue corporate debt restructuring.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 12 | 18 | 0 |
| BSE 100 | 29 | 71 | 0 |
| BSE 200 | 47 | 152 | 1 |
| BSE 500 | 127 | 369 | 4 |
| Others | 928 | 1298 | 119 |
The market breadth, which indicates the overall health of the market, was negative. Out of 3175 stocks traded on the BSE, 1908 declined, 1143 advanced and 124 remained unchanged.
In conclusion, we expect the markets to remain sideways on the back of the holiday season. Investors are also very jittery about investing in markets that fail to provide any direction.
Finally, we at DSIJ, would like to wish all our readers a Prosperous New Year.
In conclusion, we expect the markets to remain sideways on the back of the holiday season. Investors are also very jittery about investing in markets that fail to provide any direction.
Finally, we at DSIJ, would like to wish all our readers a Prosperous New Year.
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