Markets ignore IIP data, close in negatives
Shrikant / 12 Jan 2012
Indian markets remained highly volatile today. The Sensex ended the day down by 138 points, while the Nifty was down by 29 points.
Indian markets remained highly volatile today. The weak dollar outlook indicated by Infosys haunted the market. Even the news of the positive Nov IIP numbers could not stop the bearish trend. By the end of the day, the BSE Sensex was down by 138 points, while Nifty was down by 29 points.
Earlier, the Asian stock exchanges also closed their day on a poor note. All the 3 key indices were down with marginal losses.
European markets, which opened on a flat to positive note, are currently trading in the green.
Dow Jones Futures is currently trading 31 points or 0.25% up at 12419, indicating a positive sentiment in the US markets.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16,037.51 | -0.86% |
| Nifty | 4,831.25 | -0.61% |
| Hang Seng | 19,095.38 | -0.30% |
| Nikkei | 8,385.59 | -0.74% |
| Shanghai | 2,275.01 | -0.05% |
| Live | ||
| FTSE | 5,693.63 | 0.40% |
| CAC | 3,237.84 | 1.03% |
| DAX | 6,234.05 | 1.33% |
Back home, the Power index surged up by 1.32% amid news of positive IIP data on the power sector. Metals and Bankex were also up with over 1% gains for the 2nd consecutive day. The CD, HC, PSU, Auto, FMCG and Realty indices were all marginally up. CG and Oil & Gas were a little bearish on the trades. The IT and Teck indices, however, lost by 5.96% and 4.41% respectively after Infosys declared its quarterly results.
| Sectoral Indices | |||
| Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 5519.59 | 14.07 | 0.26 |
| SMLCAP | 6084.27 | 8.84 | 0.15 |
| BSE-100 | 8321.32 | -30.76 | -0.37 |
| BSE-200 | 1949.94 | -4.97 | -0.25 |
| BSE-500 | 6097.16 | -13.1 | -0.21 |
| Sectors | |||
| POWER | 1954.23 | 25.37 | 1.32 |
| METAL | 10422.13 | 111.74 | 1.08 |
| BANKEX | 10249.57 | 109.21 | 1.08 |
| AUTO | 8463.8 | 70.28 | 0.84 |
| PSU | 6975.04 | 48.21 | 0.7 |
| FMCG | 4049.3 | 17 | 0.42 |
| CD | 5629.18 | 20.58 | 0.37 |
| REALTY | 1548.89 | 1.3 | 0.08 |
| HC | 6125.76 | 0.76 | 0.01 |
| CG | 9038.87 | -20.34 | -0.22 |
| OIL&GAS | 7851.61 | -63.72 | -0.81 |
| TECk | 3258.41 | -150.28 | -4.41 |
| IT | 5484.31 | -347.89 | -5.96 |
20 of the 30 Sensex stocks ended up as gainers. SBI was up by over 2%. Hindalco, Tata Power, Coal India, Tata Steel, Bajaj Auto, GAIL India, Sterlite and NTPC were also up by 1% or more each. Infosys lost by 8.40%, and was top loser. Other IT stocks such as TCS and Wipro were also seen in the losers list for the second straight day.
HDFC announced its quarterly result today, and its PAT figure is up by 10%. The scrip gained 0.90% by the end of the day.
United Breweries extended its morning gains to 12.86% by the day's end. Shree Renuka Sugars and Manappuram Finance both gained by over 7% by the closing. United Spirits and Sun TV Network traded firmly for the whole day, with over 6% gains. On the other hand, TTK Prestige lost by 7.58% by closing time after its quarterly results were announced today.
In the corporate announcements, Suzlon Group has won a 100 MW order in USA, and the scrip closed on a flat note. Fortis Healthcare India completed the acquisition of Fortis Healthcare International – the scrip was up by 0.77% during closing. Moser Baer closed with 3.13% intraday returns after the company commissioned 5 MW of solar farms in Rajasthan. Ashiana Housing announced that it has entered the Gujarat real estate market through a revenue share agreement for 10.65 acres of land in Halol, Gujarat. The scrip was marginally up while closing.
The market breadth, which indicates the overall health of the market, remained very mixed and volatile today. Out of a total of 3205 stocks traded on the BSE, 1636 stocks advanced, 1423 stocks declined, while 146 stocks remained unchanged.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 20 | 9 | 1 |
| BSE 100 | 67 | 32 | 1 |
| BSE 200 | 124 | 75 | 1 |
| BSE 500 | 263 | 230 | 7 |
| Others | 1162 | 1077 | 136 |
With the not-so-rosy guidance by Infosys, investors should note that IT and Teck stocks are likely to remain volatile tomorrow as well. Besides, Sintex Industries and Gujarat Auto are two major companies that will announce their quarterly numbers tomorrow. Ahead of these choppy trades, investors should trade cautiously.
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