Markets plunge on expiry
Vidrum / 23 Feb 2012
The Indian markets had a very volatile trading day on the back of expiry. The markets opened the day in the red, recovered from their day’s low, but finally ended in the red zone. Among the sectoral indices, Realty and Metals were the biggest index losers, down 2.46 and 1.41 per cent respectively. On the other hand, Oil & Gas, FMCG and Power were among the index gainers.
Other Asian markets closed the day in a mixed bag, with Shanghai and Nikkei closing higher and Hang Seng closing in the red zone. The Hang Seng was down on the back of the news that the US home sales were lower than the estimates and on speculation that the economic growth target may be lower this year.European markets are trading higher in the green zone amid speculations that the Euro policy makers will resolve the debt crisis.
Dow Jones Futures is currently trading 44 points or 0.34% up at 12960, indicating a positive sentiment in the US markets.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 18078.5 | -0.37 |
| NIFTY | 5483.3 | -0.40 |
| Hang Seng | 21380.99 | -0.78 |
| Nikkei | 9595.57 | 0.44 |
| Shanghai | 2409.55 | 0.25 |
| Live | ||
| FTSE | 5948.5 | 0.54 |
| DAX | 6893.49 | 0.73 |
| CAC | 3466.63 | 0.56 |
Back home, Metals heavyweight Sterlite Industries closed down 4.09% at Rs 115. Auto stocks also tumbled today, with Hero MotoCorp, Mahindra & Mahindra and Maruti Suzuki closing the session down more than 2%. Stocks like DLF, L&T and ICICI Bank closed the day lower by more than 1%. HDFC, GAIL India, Infosys and Jindal Steel closed the day marginally in the red.
On the other hand, FMCG major HUL was the leader in today’s session, up 2.22% at Rs 386.80. The Power pack showed some strength ahead of the meeting with the Prime Minister, with BHEL, NTPC and Tata Power closing the session higher in the range of 0.54%-1.74%. Other stocks like HDFC Bank, Coal India, ITC and SBI closed marginally in the green zone.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,340.54 | -35.15 | -0.55 |
| SMLCAP | 6,905.89 | -63.17 | -0.91 |
| BSE-100 | 9,464.68 | -33.8 | -0.36 |
| BSE-200 | 2,218.22 | -8.11 | -0.36 |
| BSE-500 | 6,933.15 | -27.46 | -0.39 |
| Sectors | |||
| FMCG | 4,178.31 | 34.01 | 0.82 |
| POWER | 2,311.49 | 14.81 | 0.64 |
| OIL&GAS | 8,803.56 | 30.5 | 0.35 |
| CD | 6,524.23 | -3.45 | -0.05 |
| IT | 6,274.72 | -9.89 | -0.16 |
| PSU | 7,733.42 | -19.32 | -0.25 |
| HC | 6,310.40 | -17.71 | -0.28 |
| BANKEX | 12,308.49 | -40.38 | -0.33 |
| TECk | 3,661.28 | -18.75 | -0.51 |
| CG | 10,883.56 | -56.52 | -0.52 |
| AUTO | 10,089.91 | -80.71 | -0.79 |
| METAL | 11,944.28 | -170.8 | -1.41 |
| REALTY | 1,973.40 | -49.7 | -2.46 |
Ranbaxy Labs closed the session marginally in the green zone, up 0.25% to Rs 439.95, despite reporting a bad set of Dec 2011 quarter numbers. The company reported a loss of Rs 2710 cr against a profit of Rs 55 cr in the similar period last year. Lupin gained 2.94% to touch Rs 477.20 after the news of the settlement agreement on Glumetza tablets. D.B. Realty tanked 5.12% to Rs 84.35 after the news that Dubai based telecom operator Etisalat would shut down operations of its telecom joint venture with the Indian company.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 12 | 18 | 0 |
| BSE 100 | 40 | 60 | 0 |
| BSE 200 | 77 | 123 | 0 |
| BSE 500 | 176 | 321 | 3 |
| Others | 916 | 1465 | 105 |
The market breadth, which indicates the overall health of the market, was negative. Out of the 3316 stocks traded, 1987 declined, 1221 advanced and 108 remained unchanged.
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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