Bloodbath On The Street
DSIJ Intelligence / 27 Feb 2012
Markets after the volatility in the morning, kept on shedding the points for entire day. BSE Sensex lost 477 points today, wiping nearly all the gains made in this month. Nifty on the other hand closed with loss of 93 points. Rising crude prices and uncertainty over the RBI's next move seem playing down the markets.
Peer Asian indices also traded in red for the entire day. Except Taiwanese index, all Asian indices closed in red.
European markets, which opened in negatives, are currently trading in same fashion. While DAX and CAC have lost over 1 per cent by now, FTSE is down by 0.14%.
Dow Jones Futures is currently trading 0.37% or 48 points down indicating negative sentiment in the market,
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17,445.75 | -2.67% |
| NIFTY | 5,336.15 | -1.72% |
| Hang Seng | 21,217.86 | -0.88% |
| Nikkei | 9,633.93 | -0.14% |
| Shanghai | 2,447.06 | 0.30% |
| Live | ||
| FTSE | 5,890.85 | -0.75% |
| CAC | 3,428.49 | -1.11% |
| DAX | 6,786.11 | -1.14% |
Back home on the sectoral front, only FMCG ended the day in the positive, Rest all indices were in the red. HC was down by 0.54% by closing. Realty was top loser which lost over 5%. Power and Metal were also down by more than 4% by closing.
| Sectoral Indices | |||
|---|---|---|---|
| Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6109.52 | -190.55 | -3.02 |
| SMLCAP | 6633.64 | -223.4 | -3.26 |
| BSE-100 | 9107.88 | -262.07 | -2.8 |
| BSE-200 | 2135.95 | -61.74 | -2.81 |
| BSE-500 | 6678.83 | -193.08 | -2.81 |
| Sectors |
|
|
|
| FMCG | 4202.29 | 12.28 | 0.29 |
| HC | 6245.33 | -33.89 | -0.54 |
| TECk | 3605.33 | -76.45 | -2.08 |
| IT | 6177.89 | -131.13 | -2.08 |
| PSU | 7426.72 | -212.44 | -2.78 |
| OIL&GAS | 8387.41 | -265.28 | -3.07 |
| AUTO | 9699.9 | -333.34 | -3.32 |
| CD | 6320.56 | -223.79 | -3.42 |
| CG | 10185.51 | -375.46 | -3.56 |
| BANKEX | 11589.28 | -479.19 | -3.97 |
| POWER | 2195.57 | -92.15 | -4.03 |
| METAL | 11486.51 | -586.31 | -4.86 |
| REALTY | 1826.45 | -102.01 | -5.29 |
The bears were so dominant that none of the Sensex stock closed in positives. Tata Steel lost more than 7%. Hero MotorCorp lost over 6% while Hindalco and DLF lost more than 5% each. Cipla and Bharti Airtel were down marginally.
Among the other stocks, Lanco Infra lost 12.30 per cent. Sesa Goa and Adani Power lost over 10% each by the time market closed. In such a market HPCL gained 3.41%. Bharat Electricals, Lupin, ITC and Gujarat Minerals also gained over 1% among the 'A' group stocks.
Overall market breadth remained very negative. Out of total 3274 stocks traded a total 2505 stocks (77%) declined while 684 stocks (21%) advanced. A total 85 stocks (2%) remained unchanged.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 2 | 28 | 0 |
| BSE 100 | 12 | 88 | 0 |
| BSE 200 | 21 | 179 | 0 |
| BSE 500 | 55 | 444 | 1 |
| Others | 594 | 1766 | 84 |
With the market closing in negative on the fourth consecutive day in the two weeks, it is not very clear whether recent rally is sustainable. Though inflation has come down, it may or may not attract the rate cut. On the European front, the woes are not over and concerns over the fiscal measures to be taken by Greece are still haunting. Investors must pay attention to these factors while trading.
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