Markets open negative, Sensex down 134 points
DSIJ Intelligence / 09 Jan 2012
The Indian markets have opened negative, in line with our expectations. The Sensex is currently trading lower by 134 points at 15716.92, while the Nifty is down by 38 points at 4708.
The Indian markets have opened negative, in line with our expectations. The benchmark Sensex is currently trading lower by 134 points at 15716.92, while the Nifty is down by 38 points at 4708, following weak global cues.
|
Benchmark Indices | ||
| Index | Rate | % Change |
| Hang Seng | 18,422.23 | -0.92 |
| Nikkei | 8,390.35 | 0.00 |
| Shanghai | 2,194.57 | 1.44 |
| Sensex | 15716.92 | -0.82 |
| Nifty | 4708.15 | -0.81 |
Other Asian markets are trading on a mixed note. On one hand, the Hang Seng is down by nearly 1%, and on the other, Shanghai Composite is up by 1.5% on expectations of improvement in the Chinese data expected to be announced today. Japan’s Nikkei is closed for the day.
Back home, most of the 30 stocks in the Sensex are seen trading in the red zone. Tata Power is the top gainer among the Sensex stocks on the back of news that the company has commissioned the first unit of its UMPP Mundra project. Reliance Power jumped 2% on The Economic Times' report that the company has got access to 2 NCL blocks. Sterlite Industries and Hindalco are lower by 2% on the back of a cut down in outlook for aluminum companies in Q3 by CARE. Frontliners like Bharti Airtel, IDFC, Coal India, Tata Steel, Bajaj Auto, L&T, ICICI Bank, M&M, SAIL, DLF, Wipro, Maruti Suzuki and SBI were also under pressure.
The market breadth, which indicates the overall health of the market, is positive. On the BSE, 1042 shares rose and 948 shares fell. 101 shares remained unchanged.
We expect the markets to remain volatile for the day. Also, the European markets will provide some vital cues on the desired direction of the market trend in the late afternoon session.
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