Markets end the day positive

The Indian markets remained positive for the whole day, led by strong global cues. The benchmark Sensex closed with gains of 102 points, while Nifty closed 35 points up. Both the indices were trading higher until the afternoon session, but lost some gains in the final session on profit booking as well as the subdued opening in the European markets.

Meanwhile, the rupee lost 32 paise and closed on Rs 49.2775 per dollar by the end of the day.

Earlier, the other Asian markets closed with mixed trends. The Hang Seng was marginally down and Shanghai was marginally up. Nikkei, on the other hand, gained by 97 points or 1.1%.

European markets are trading on a subdued note at this hour. All 3 key indices are trading in losses between 0.3% to over 1%.

Dow Jones Futures is currently trading down by 49 points or 0.38%, indicating a negative sentiment in the markets.

Back home, the interest rate-sensitive Realty index rallied by nearly 4%. Capital Goods gained by 2%. Other indices like Metals, PSU, CD and Bankex were also up by over 1%. The only index on the losing side was HC, which lost by 7 points or 0.12%.

20 of the 30 Sensex stocks closed in the positive by the end of the day. Jindal Steel was the front runner on the gainers list, closing with 3.13% gains. Capital Goods stocks like BHEL and L&T gained by over 2% each. Realty major DLF was up by 2% and Tata Steel was also seen in the gainers list. Energy stocks such as ONGC and NTPC as well as IT major TCS were in gains. On the back of the news of the Mundra project, Tata Power emerged as the top loser, down by about 5% today. HUL was down by over 3.49% after its quarterly results announcement.

Adani Power announced its results today, posting a loss of Rs 358 cr due to higher coal prices. The stock touched an intraday low of Rs 78.75, but recovered by the end of the day. We expect the stock to shed few points tomorrow.

The market breadth, which indicates the overall health of the market, remained positive for the day. Out of a total of 3344 stocks traded on the BSE, 2084 advanced, 1149 declined while 111 remained unchanged.

According to a recent report by S&P, several factors could weigh on India’s sovereign credit rating in 2012. Currently, India is under a stable outlook. Beside this, Finance Minister, Pranab Mukherjee, has said that the GDP growth of India may remain near 7%. The impact of this may be seen on the markets in this week. We advise our readers to remain cautious while trading.