Markets give up gains, close negative
Vidrum / 07 Feb 2012
The Indian markets gave up their morning gains and closed today’s session in the red zone, with both the indices closing the session down almost 0.50%.
The Indian markets gave up their morning gains and closed today’s session in the red zone, with both the indices closing the session down almost 0.50%. Among the sectors, Capital Goods, Realty and Power were among the worst performers, all down by more than 2%. On the other hand, Oil & Gas, Bankex, Consumer Durables and FMCG were the sectors which closed the session in the green zone.
Other Asian markets also ended lower, with Shanghai being the worst performer, down by 1.68%. Nikkei and Hang Seng closed marginally in the red zone. The Chinese market tanked on the back of news that the central bank may not ease the rates and would maintain its hawkish stance.
The European markets also gave up their early gains, and are trading in negative territory. FTSE, CAC and DAX are trading down in the range of 0.31%-0.65%.
Dow Jones Futures is currently trading 6 points or 0.04% down at 12770, indicating a negative sentiment in the US markets.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17620.3 | -0.49 |
| NIFTY | 5335.15 | -0.49 |
| Hang Seng | 20699.19 | -0.05 |
| Nikkei | 8917.52 | -0.13 |
| Shanghai | 2291.9 | -1.68 |
| Live | ||
| FTSE | 5874.15 | -0.31 |
| DAX | 6720.84 | -0.65 |
| CAC | 3392.79 | -0.37 |
Back home, Capital Goods heavyweight, BHEL, tanked 4.22% to Rs 259.90 on fears of further delays of orders from NTPC. Metals stocks like Tata Steel and Sterlite Industries closed down 3.30% and 2.40% respectively. Other stocks like Bharti Airtel, DLF, GAIL India, L&T, etc. closed down by more than 2% each. Bajaj Auto, Tata Motors, Tata Power, Sun Pharma, etc. closed the day marginally in the red. On the other hand, Reliance Industries was among the leading index gainers, up 1.44% to Rs 844.75. Stocks like ITC and ONGC closed 1.38% and 1.25% higher. Others like Wipro, Cipla, HDFC Bank, TCS, etc. closed marginally in the green zone.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,073.11 | -49.46 | -0.81 |
| SMLCAP | 6,751.98 | -29.95 | -0.44 |
| BSE-100 | 9,210.67 | -57.02 | -0.62 |
| BSE-200 | 2,156.34 | -14.1 | -0.65 |
| BSE-500 | 6,738.02 | -41.39 | -0.61 |
| Sectors | |||
| OIL&GAS | 8,766.75 | 76.48 | 0.88 |
| CD | 5,928.98 | 35.81 | 0.61 |
| BANKEX | 11,864.62 | 66.43 | 0.56 |
| FMCG | 4,132.79 | 11.59 | 0.28 |
| HC | 6,403.30 | -0.56 | -0.01 |
| PSU | 7,564.72 | -23.87 | -0.31 |
| IT | 5,898.38 | -51.03 | -0.86 |
| AUTO | 9,498.20 | -105.85 | -1.1 |
| TECk | 3,546.88 | -43.45 | -1.21 |
| METAL | 11,855.77 | -213.33 | -1.77 |
| POWER | 2,129.56 | -43.11 | -1.98 |
| REALTY | 1,816.01 | -38.88 | -2.1 |
| CG | 10,225.29 | -239.57 | -2.29 |
Aviation stocks surged on the back of the news that airline companies can directly import Aviation Turbine Fuel (ATF). The stocks came off from their day’s high, but even then closed substatially up, with Kingfisher up 13.20%, Jet Airways up 14.48% and Spice up 10.98%. Mangalam Cement jumped 13.84% to Rs 148.45, after posting robust December 2011 quarter numbers. The company reported net profits of Rs 26 cr versus a net loss of Rs 2.53 cr in the similar period last year.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 8 | 22 | 0 |
| BSE 100 | 26 | 74 | 0 |
| BSE 200 | 58 | 142 | 0 |
| BSE 500 | 179 | 319 | 2 |
| Others | 1068 | 1311 | 117 |
The market breadth, which indicates the overall health of the market, was negative. Out of the 3326 stocks traded on the BSE, 1868 declined, 1339 advanced and 119 remained unchanged.
For tomorrow, investors should watch out for stocks like Bharti Airtel, Bharat Forge, JSW Ispat, ONGC, Power Grid Corp, Tech Mahindra, etc., as they are going to declare their Q3 FY12 numbers.
In conclusion, we expect the markets to remain volatile as investors are jittery about investing in markets that fail to provide any concrete direction.
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