Markets end a dull day in the negative
Vidrum / 18 Jan 2012
The Indian markets had a muted trading day, trading in a very narrow range in the negative zone for most part of the day. Both the indices closed on a flatfish note, with the Sensex down 14 points to 16451 and the Nifty down 11 points to 4955. Among the sectors, Oil & Gas had its head up for the entire day, closing the session higher by over 3%. Metals, IT, Capital Goods and Teck were among those that remained in the red zone.
Other Asian markets had a mixed trading day, with the Hang Seng and Nikkei closing in the green zone, and Shanghai closing the session down by 1.39%. The Chinese markets witnessed profit booking, after the index had rallied as much as 4% yesterday.
European markets are trading in the negative territory. Investors will take cues from Greece, where talks with the country’s creditors are due to resume.
Dow Jones Futures is currently trading 7 points or 0.06% up at 12427, indicating a positive sentiment in the US markets.
| Benchmark Indices | ||
| Index | Closing | % Change |
| Sensex | 16451.47 | -0.09 |
| Nifty | 4955.8 | -0.23 |
| Hang Seng | 19686.92 | 0.30 |
| Nikkei | 8550.58 | 0.99 |
| Shanghai | 2266.38 | -1.39 |
| Live | ||
| FTSE | 5658.92 | -0.62 |
| DAX | 6298.76 | -0.54 |
| CAC | 3246.87 | -0.71 |
Back home, Tata Steel is the leading index loser, down 4.64% to Rs 422.25. Coal India also went down 3.49% to Rs 339.05 after company announced that it will not increase the prices of coal. Other stocks like ICICI Bank, Mahindra & Mahindra, Wipro and TCS are down by more than 2% each. Bajaj Auto, Maruti Suzuki, Jindal Steel, etc. also closed the session marginally in the red zone.
On the other hand, Reliance Industries closed 4.17% higher at Rs 771.25 after the board announced that it will consider the buyback of share. Others including Bharti Airtel, Tata Power, ITC, SBI, HDFC and DLF closed the session higher by 0.26%-1.54%.
HCL Tech witnessed some profit booking, and the scrip closed 1.70% down at Rs 417.55 after yesterday’s rally. TAKE Solutions closed 0.97% higher at Rs 26 after it announced the global release of PharmaReady 5.0. Essar Oil tanked 11.53% to Rs 51.40 after the news broke that the company has to pay Rs 6300 cr in taxes.
| Advance-Decline Table | |||
| Index | Advances | Declines | Unchanged |
| BSE 30 | 12 | 18 | 0 |
| BSE 100 | 31 | 69 | 0 |
| BSE 200 | 52 | 148 | 0 |
| BSE 500 | 145 | 350 | 5 |
| Others | 943 | 1350 | 112 |
The market breadth, which indicates the overall health of the market, was negative. Out of the 3235 stocks traded on the BSE, 1935 declined, 1183 advanced and 117 remained unchanged.
As for tomorrow, investors should watch out for stocks like HDFC Bank, Dish TV, Hero MotoCorp, Balaji Telefilms, IFCI, SKS Microfinance etc., as the companies are going to declare their Q3 FY12 numbers.
In conclusion, we expect the markets to remain volatile, as investors remain jittery about investing in markets that fail to provide any concrete direction.
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