Markets flat, Sterlite down 3%
Shrikant / 23 Feb 2012
On the second day of this week markets have opened on sideways. Both the benchmark indices are showing volatility and may continue trading in same fashion ahead in the day.
Earlier US as well as European stocks closed in negative over the Euro Zone debt crisis. The economic data showed that home sales in US increased for the month of January 2012, however weekly mortgage applications declined. US jobless claim data is also expected today which will guide the global markets tomorrow.
The scenario in the three key Asian indices is mixed at this hour. Nikkei is trading marginally up while Shanghai and Hang Seng are trading down.
Among the sectoral indices CD, Oil and Gas, FMCG, Bankex, HC and PSU are seen in green zone while rest all other sectoral indices are in red. Metal and Realty have lost over 1% in the early trades.
Among the Sensex stocks SBI which was down by yesterday is back in positives with over 2% gains in the morning. Hindustan Unilever, Tata Motors and BHEL are also up by more than 1%. RIL has gained by 0.6% so far. Financial shares of Sterlite industries have further tanked 3% and may see more downtrend ahead in the day. Among Auto space M&M, Hero MotorCorp, Bajaj Auto and Maruti Suzuki are seen taking the selling pressure. Energy stocks such as NTPC, Tata Power, Gail India and Coal India are in the losers list.
Among the other stocks, shares of Ranbaxy have rose by about 1%. Company will announce its December quarter and CY11 results today and is expected to put in weak numbers as well as forex loss.
Shares of Unitech are trading down by 2.61%. Lanco infra has shown good volumes and trades in last week. Currently its shares are trading up by 3.85 per cent and may hold the gains in the day ahead.
The market breadth, indicating the overall health of the market, is negative. Out of total 2507stocks 855 stocks advanced, while 1580 stocks declined. A total 72 stocks remained unchanged.
Going ahead, we expect the markets to remain volatile today.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.