Markets continue to trade weak
Chandrakant / 07 Mar 2012
After opening on a weak note today, the Indian markets have extended some of their losses on the back of weak global cues and concerns over the Greek debt crisis. The Sensex and Nifty are marginally down by 0.59% and 0.28% respectively.
After opening on a weak note today, the Indian markets have extended some of their losses on the back of weak global cues and concerns over the Greek debt crisis. The Sensex and Nifty are marginally down by 0.59% and 0.28% respectively.
Other Asian markets also continue to trade on a negative note, as concerns over the slowing growth in China and the European debt crisis continue to haunt investors.
The European markets continued their run of opening on a flat negative note. FTSE is down by 0.14%, while DAX and CAC are down by 0.05% and 0.02% respectively. Renewed fears over Europe's recovery after the debt crisis hit the region's growth as well as on the slowdown in China's growth expectations for 2012 dented investor sentiment.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| FTSE | 5,765.80 | -0.14 |
| DAX | 6,638.48 | -0.02 |
| CAC | 3,364.13 | -0.05 |
| Hang Seng | 20,627.25 | -0.87 |
| Nikkei | 9,576.06 | -0.64 |
| Shanghai | 2,394.45 | -0.65 |
| SENSEX | 17072.42 | -0.59 |
| NIFTY | 5207.90 | -0.28 |
Back home, all the BSE sectoral indices barring IT, Teck, Pharma and FMCG are trading in the negative territory. The Oil & Gas, Metals and Consumer Goods indices are leading with losses of 1.84%, 1.80% and 1.7% respectively.
Most of the Sensex are also trading negative. BHEL, Jindal Steel and Sterlite Industries are leading with losses of 3.26%, 3.10% and 3.38% respectively. On the gainers' side, Bajaj Auto, HDFC, Hero MotoCorp, HUL, Infosys, Tata Motors and Wipro are all up with gains between 0.25%-1.82%.
The market breadth, which indicates the overall health of the market, is negative. On the BSE, 1696 shares fell and 926 shares rose. 122 shares remained unchanged.
We expect the markets to remain flat and negative for the rest of the day, and advise readers to play with caution.
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