Markets Closes In Red, ONGC FPO Disappoints
Vidrum / 01 Mar 2012
Indian Markets recovered in the last hour of trade from the day’s low however ended the day in the red zone. BSE closed down more than a per cent while NSE closed the session marginally below one per cent. Among the sectoral Realty was the major Index loser down 3.29 per cent while Capital goods and Bankex were down in the range of 1 to 2 per cent. On the other hand Healthcarre was the only sector today which closed in the green zone.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17552.3 | -1.13 |
| NIFTY | 5339.75 | -0.84 |
| Hang Seng | 21687.96 | 0.04 |
| Nikkei | 9707.37 | -0.16 |
| Shanghai | 2426.11 | -0.10 |
| Live | ||
| FTSE | 5901.61 | 0.51 |
| DAX | 6886.35 | 0.44 |
| CAC | 3462.1 | 0.28 |
Asian Markets closed today on a quite note with Nikkei and Shanghai down 0.16 and 0.10 per cent respectively. While Hang seng closed marginally in the green zone. European markets are also trading on a positive note as the European central bank has given Long Term Refinancing option to Euro banks.
The Dow Jones Futures is currently trading 26 points or 0.20 per cent up at 12963 indicating a positive sentiment in the US markets.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,353.15 | -33.67 | -0.53 |
| SMLCAP | 6,833.85 | -26.12 | -0.38 |
| BSE-100 | 9,251.29 | -70.2 | -0.75 |
| BSE-200 | 2,175.08 | -15.84 | -0.72 |
| BSE-500 | 6,809.48 | -47.8 | -0.7 |
| Sectors | |||
| HC | 6,352.30 | 15.89 | 0.25 |
| POWER | 2,271.00 | -9.39 | -0.41 |
| FMCG | 4,145.68 | -21.17 | -0.51 |
| CD | 6,523.77 | -37.4 | -0.57 |
| TECk | 3,600.35 | -21.69 | -0.6 |
| IT | 6,116.68 | -44.38 | -0.72 |
| PSU | 7,707.52 | -56.52 | -0.73 |
| METAL | 11,950.15 | -102.24 | -0.85 |
| AUTO | 9,905.03 | -89.58 | -0.9 |
| OIL&GAS | 8,629.23 | -82.48 | -0.95 |
| BANKEX | 11,830.87 | -143.29 | -1.2 |
| CG | 10,257.96 | -168.41 | -1.62 |
| REALTY | 1,891.17 | -64.43 | -3.29 |
Back home, Real estate major DLF, tanked 5.17 per cent to Rs 214.65. Mahindra and Mahindra was trading lower 3.67 per cent to Rs 681.65, on the back dismal sales number of the February month. BHEL, NTPC, ICICI bank, L&T etc closed the session down more than 2 per cent. Other stocks like Sun Pharma, Gail India, Sterlite Industries, Cipla etc closed the session marginally in the red zone. On the other hand Maruti Suzuki was the leading Index gainer up 4.64 per cent to Rs 1314.55, after reporting decent set of February sales numbers. Other stocks like Hindalco, HDFC, Tata Power, Coal India etc closed today’s session higher in the green zone.
ONGC closed down 1.87 per cent to Rs 287.85, after it received poor response for its FPO. Approximately 29 crore shares were subscribed against the Government offering of 42 crore shares. Major chunk of this shares were subscribed in the last 10 minutes of the offer. Well that could probably be from any other government organization like LIC.
Suzlon energy surged 11.47 per cent ot Rs 29.65, after the news that its subsidiary has received additional credit line from banks. Tata Communication closes 1.22 per cent higher to Rs 235.60, after the company clarified on the acquisition related news.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 6 | 24 | 0 |
| BSE 100 | 32 | 68 | 0 |
| BSE 200 | 65 | 134 | 1 |
| BSE 500 | 170 | 325 | 5 |
| Others | 1092 | 1257 | 106 |
The market breadth, indicating the overall health of the market, was negative. Out of 3285 stocks traded, 1808 declined while 1365 stocks advanced. A total of 112 stocks remained unchanged.
In conclusion, we expect the markets to remain volatile as Investors are very jittery to invest in such markets which fail to provide and concrete direction.
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