Markets in the negative territory

Vidrum / 01 Mar 2012

As mentioned in our morning update markets opened in the negative territory. At Present both the Indices are trading in the red zone with Sensex down 146 points  and Nifty down by 48 points. 
As mentioned in our morning update markets opened in the negative territory. At Present both the Indices are trading in the red zone with Sensex down 146 points at 17606 and Nifty down by 48 points at 5336. All the sectors Realty, Capital goods, Bankex are among the worst performer. Health care and FMCG Indices are trading marginally higher in the green zone. 

On the other hand, Asian Markets are trading in mixed bagged with Nikkei and Shanghai are trading marginally in the green zone up 0.07 and 0.12 per cent While Shanghai is trading lower down 0.49 per cent. Shanghai is down on the back of speculation that China may tight its monetary policy which will further limit the growth.
  
Back home, Capital goods major BHEL is the leading Index loser trading lower 3.49 per cent to Rs 297.45. L&T is also trading down 1.79 per cent to 1284.70.  Banking stocks are also trading lower with ICICI bank and SBI are down 2.55 and 1.83 per cent. Stocks like Gail India, Bharti Airtel, NTPC, HDFC, Sterlite Industries are trading marginally in the red zone. On the other hand Sun Pharma is the leading Index gainer up 2.27 per cnet to Rs 562.45.Other stocks like Coal India, TCS, Jindal Steel, HUL are trading marginally in the green zone.  ONGC is trading almost flat up 0.03 per cent to Rs 293.45, as today it is going to carry out its FPO activity. 

Sundaram Multi Paper today touched its New 52 week high, and is currently trading up 6.04 per cent to Rs 50, after the company recommends Bonus shares. Disa India is up whooping 20 per cent to Rs 2413.20, after the board of directors recommended a 2000 per cent dividend (i.e. Rs 200, FV Rs 10).     

The market breadth, indicating the overall health of the market, is weak. On BSE, 1058 shares declined while 722 shares
rose. And 74 shares remained unchanged. 

In conclusion, we expect the market to remain volatile for the day with a negative bias. Nevertheless we shall keep updating you regularly through our market commentary. 

Benchmark Indices

Index

Rate

% Change

Hang Seng

21574.5

-0.49

Nikkei

9730.21

0.07

Shanghai

2431.33

0.12

SENSEX

17606.67

-0.82

NIFTY

5336.85

-0.90


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