Markets in the red, Nifty below 4700
Vidrum / 29 Dec 2011
As mentioned in our morning update, the Indian markets opened in the negative territory in line with global cues. Both the indices are trading in the red, with the Sensex down 81 points at 15646 and the Nifty down by 25 points at 4680.
As mentioned in our morning update, the Indian markets opened in the negative territory in line with global cues. At present, both the indices are trading in the red, with the Sensex down 81 points at 15646 and the Nifty down by 25 points at 4680. All the sectors are in the red zone except Healthcare, which is marginally in the green zone, up by 0.10%. Consumer Goods, Metals and Power are among the worst -performing sectors on the bourses today.
The other Asian markets are also looking nervous. Hang Seng and Nikkei are trading in the negative zone, while Shanghai is trading higher by 0.33%.
Back home, Jindal Steel continued yesterday’s losses, and is down 2% at Rs 445.6. Tata Power witnessed some profit booking after yesterday’s rally, trading down 1.91% at Rs 89.95. Metals stocks like Sterlite Industries, Tata Steel and Hindalco are trading down in the range of 0.64%-1.05%. Other stocks like ITC, Bharti Airtel, DLF, HDFC bank, Infosys etc are trading marginally in the red zone.
On the other hand, Jaiprakash Associates, Coal India and ONGC are trading higher more than 0.50%. BHEL, Hero MotoCorp and Cipla are the other stocks that are trading marginally in the green zone.
GMR Infra is down 1.26% to Rs 19.65 after the company announced that it has completed share transfer of its Singapore subsidiary to Petronas. HUL is down 0.57% to Rs 410 after the company shortlisted 5 bidders for its Worli property.
The market breadth, which indicates the overall health of the market, is weak. On the BSE, there are more stocks in the negative territory than in the positive zone.
We expect the markets to remain volatile for the day.
The other Asian markets are also looking nervous. Hang Seng and Nikkei are trading in the negative zone, while Shanghai is trading higher by 0.33%.
Back home, Jindal Steel continued yesterday’s losses, and is down 2% at Rs 445.6. Tata Power witnessed some profit booking after yesterday’s rally, trading down 1.91% at Rs 89.95. Metals stocks like Sterlite Industries, Tata Steel and Hindalco are trading down in the range of 0.64%-1.05%. Other stocks like ITC, Bharti Airtel, DLF, HDFC bank, Infosys etc are trading marginally in the red zone.
On the other hand, Jaiprakash Associates, Coal India and ONGC are trading higher more than 0.50%. BHEL, Hero MotoCorp and Cipla are the other stocks that are trading marginally in the green zone.
GMR Infra is down 1.26% to Rs 19.65 after the company announced that it has completed share transfer of its Singapore subsidiary to Petronas. HUL is down 0.57% to Rs 410 after the company shortlisted 5 bidders for its Worli property.
The market breadth, which indicates the overall health of the market, is weak. On the BSE, there are more stocks in the negative territory than in the positive zone.
We expect the markets to remain volatile for the day.
| Benchmark Indices | ||
| Index | Rate | % Change |
| Hang Seng | 18349.9 | -0.91 |
| Nikkei | 8374.64 | -0.58 |
| Shanghai | 2177.23 | 0.33 |
| Sensex | 15646.8 | -0.52 |
| Nifty | 4680.8 | -0.53 |
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