Markets trading weak on negative global cues
Chandrakant / 07 Mar 2012
The Indian markets opened on a weak negative note, taking cues from the global markets. The Sensex and Nifty are down 0.38% and 0.43% respectively.
The Indian markets opened on a weak negative note, taking cues from the global markets. Investors remained concerned over slowing global growth and the Greek debt crisis. The Sensex and Nifty are down 0.38% and 0.43% respectively.
The Asian markets continued to open on a negative note on continued concerns over slowing growth in China and fears over the Greek debt crisis.
Yesterday, the European markets closed in the deep negative zone after fresh growth and the Greek debt-deal concerns led to a much-awaited correction in the markets there.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 20,649.46 | -0.76 |
| Nikkei | 9,561.13 | -0.80 |
| Shanghai | 2,410.07 | -0.02 |
| SENSEX | 17109.71 | -0.38 |
| NIFTY | 5199.15 | -0.43 |
Among the sectoral indices, Consumer Goods, IT and Pharma are leading with gains of 0.30%, 0.23% and 0.16% respectively. Other indices such as Teck and Realty are up with marginal gains of 0.09% and 0.02% respectively. In the losers pack, Metals, Bankex and PSU are leading with losses of 0.97%, 0.77% and 0.65% respectively.
From the Sensex stocks, Bajaj Auto, BHEL, Cipla, etc. are trading with marginal gains between 0.16%-1.15%. Most of the other stocks are trading in the negative zone. Bharti Airtel, DLF, HDFC Bank, Jindal Steel and SBI are down between 0.98%-1.29%.
The market breadth, which indicates the overall health of the market, is negative. On the BSE, 1157 shares fell and 851 shares rose. 87 shares remained unchanged.
We expect the markets to remain flat and negative for the day. The European markets are also expected to provide some vital cues on the desired direction of the market trend in the late afternoon session.
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