Markets close on negative note
Chandrakant / 05 Mar 2012
After opening on a weak note, the Indian markets extended their losses during the afternoon trade and finally ended in the deep red zone, with the Sensex and Nifty down by 1.55% and 1.47% respectively.
After opening on a weak note, the Indian markets extended their losses during the afternoon trade and finally ended in the deep red zone, with the Sensex and Nifty down by 1.55% and 1.47% respectively. The negative mood was due to the UP poll results, which are scheduled to be announced tomorrow. Negative Asian markets and the weak opening of the European markets later added to the investors' woes.
Asian markets too closed in the negative zone, as investors were seen concerned over the ongoing European debt crisis. Chinese leader Wen Jiabao announced a growth target of 7.5% for China in 2012. This is below the expectations of the investors, which was 8%.
The European markets continued their woes after China announced the GDP growth target of 7.5% for the 2012, the lowest in the past 8 years. Further, uncertainty around the Greek bailout package kept investors worried on the economy's survival.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17362.89 | -1.55 |
| NIFTY | 5280.35 | -1.47 |
| Hang Seng | 21265.31 | -1.40 |
| Nikkei | 9698.59 | -0.81 |
| Shanghai | 2445 | -0.64 |
| Live | ||
| FTSE | 5883.92 | -0.46 |
| DAX | 6842.61 | -1.15 |
| CAC | 3473.64 | -0.79 |
Among the sectoral indices back home, all the major indices barring FMCG ended the day in the red. Realty, Metals and Bankex remained the top losers, ending with losses of 3.26%, 3.06% and 2.62% respectively. Other indices ended with losses between 0.29%-2.47%.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,271.17 | -88.12 | -1.39 |
| SMLCAP | 6,787.70 | -65.39 | -0.95 |
| BSE-100 | 9,145.33 | -136.12 | -1.47 |
| BSE-200 | 2,149.44 | -31.80 | -1.46 |
| BSE-500 | 6,732.47 | -95.33 | -1.40 |
| Sectors | |||
| FMCG | 4,138.19 | 10.74 | 0.26 |
| AUTO | 9,831.79 | -28.24 | -0.29 |
| TECk | 3,580.91 | -29.53 | -0.82 |
| HC | 6,350.99 | -54.15 | -0.85 |
| IT | 6,051.16 | -67.23 | -1.1 |
| POWER | 2,242.97 | -30.66 | -1.35 |
| OIL&GAS | 8,487.47 | -120.52 | -1.4 |
| PSU | 7,563.93 | -134.44 | -1.75 |
| CD | 6,401.71 | -115.87 | -1.78 |
| CG | 10,046.27 | -254.92 | -2.47 |
| BANKEX | 11,706.88 | -315.2 | -2.62 |
| METAL | 11,603.33 | -365.93 | -3.06 |
| REALTY | 1,779.07 | -59.93 | -3.26 |
All the 30 shares on the Sensex ended the day in the red zone. Among the major losers, Hindalco, DLF, Jindal Steel and GAIL were down by 5.35%, 5.44%, 3.99% and 4.88% respectively. The other stocks are down between 0.10%-3.6%.
The market breadth, which indicates the overall health of the market, was negative. Out of the 3271 stocks traded on the BSE, 2110 declined, 1048 advanced and 13 remained unchanged.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 5 | 25 | 0 |
| BSE 200 | 38 | 161 | 1 |
| BSE 100 | 19 | 80 | 1 |
| BSE 500 | 121 | 376 | 3 |
| Others | 865 | 1468 | 108 |
In conclusion, we expect the markets to remain volatile ahead of the UP Assembly election results. We advise investors to stay cautious.
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