Markets negative in line with global cues
Vidrum / 16 Jan 2012
The Indian markets have opened negative in line with global cues, with the Sensex down 63 points at 16091 and Nifty down by 25 points at 4840.
As mentioned in our morning update, the markets opened negative in line with global cues. At present, both the indices are trading in the red, with the Sensex down 63 points at 16091 and Nifty down by 25 points at 4840. Among the sectoral indices, Capital Goods, Metals, Bankex, Oil & Gas etc. are trading down more than 1%, while Teck, IT and FMCG are trading in the green, holding the markets to some extent.
Other Asian markets are also looking weak and trading in negatives after the European ratings cut, which raised concerns on the Euro zone debt crisis. The Nikkei is down 1.53%, while Shanghai and Hang Seng are also looking nervous and trading in the red zone.
Back home, Sun Pharma is the leading index loser, down 1.90% to Rs 503.20. Metals stocks are also trading down, with Hindalco, Sterlite Industries and Jindal Steel lower in the range of 1.35%-1.61%. Capital Goods heavyweight, L&T, is also looking weak, trading down by 1.62% to Rs 1153.60. Other losing stocks include BHEL, ONGC, Bajaj Auto, Hero MotoCorp etc. all trading marginally in the red zone.
On the other hand, Bharti Airtel is the leading index gainer, up 1.63% to Rs 340. The IT space has seen some buying, as stocks like TCS, Wipro and Infosys are trading higher in the range of 0.67%-1.19%. Coal India, ICICI Bank, ITC etc. are trading higher marginally in the green zone.
Suzlon Energy is trading down 0.89% to Rs 22.25, after it informed the exchange that it has signed an MoU with the Andhra Pradesh govt for the development of 3000 MW in the state. JRI Industries and Infrastructure is up 4.94% to Rs 255, after the company announced that it is going to consider sub-division of equity share in its board meeting scheduled on Jan 17, 2012.
Investors should also watch out for the stocks of companies like Dewan Housing, Motilal Oswal, Reliance Industrial Infrastructure, ING Vysya Bank, South Indian Bank etc. which are going to announce their Q3 FY12 results.
The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1077 stocks rose while 906 stocks declined. 66 stocks remained unchanged.
We expect the market to remain volatile for the rest of the day.
Other Asian markets are also looking weak and trading in negatives after the European ratings cut, which raised concerns on the Euro zone debt crisis. The Nikkei is down 1.53%, while Shanghai and Hang Seng are also looking nervous and trading in the red zone.
Back home, Sun Pharma is the leading index loser, down 1.90% to Rs 503.20. Metals stocks are also trading down, with Hindalco, Sterlite Industries and Jindal Steel lower in the range of 1.35%-1.61%. Capital Goods heavyweight, L&T, is also looking weak, trading down by 1.62% to Rs 1153.60. Other losing stocks include BHEL, ONGC, Bajaj Auto, Hero MotoCorp etc. all trading marginally in the red zone.
On the other hand, Bharti Airtel is the leading index gainer, up 1.63% to Rs 340. The IT space has seen some buying, as stocks like TCS, Wipro and Infosys are trading higher in the range of 0.67%-1.19%. Coal India, ICICI Bank, ITC etc. are trading higher marginally in the green zone.
Suzlon Energy is trading down 0.89% to Rs 22.25, after it informed the exchange that it has signed an MoU with the Andhra Pradesh govt for the development of 3000 MW in the state. JRI Industries and Infrastructure is up 4.94% to Rs 255, after the company announced that it is going to consider sub-division of equity share in its board meeting scheduled on Jan 17, 2012.
Investors should also watch out for the stocks of companies like Dewan Housing, Motilal Oswal, Reliance Industrial Infrastructure, ING Vysya Bank, South Indian Bank etc. which are going to announce their Q3 FY12 results.
The market breadth, which indicates the overall health of the market, is strong. On the BSE, 1077 stocks rose while 906 stocks declined. 66 stocks remained unchanged.
We expect the market to remain volatile for the rest of the day.
| Benchmark Indices | ||
| Index | Rate | % Change |
| Hang Seng | 19021.85 | -0.95 |
| Nikkei | 8370.11 | -1.53 |
| Shanghai | 2231.98 | -0.56 |
| Sensex | 16091.58 | -0.39 |
| Nifty | 4840.5 | -0.52 |
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