Markets Moving Lower

DSIJ Intelligence / 19 Mar 2012

Indian markets have moved lower, after trading in a narrow range in early morning hours.
Indian markets have moved lower, after trading in a narrow range in early morning hours. At present both the Indices are trading in the red zone with Sensex down 0.67 per cent while Nifty down 0.71 per cent. Among the sectoral indices, IT is the major loser, down more than 2 per cent. Other sectoral Indices like Realty, Teck, Bankex etc are also trading in the negative territory. On the other hand FMCG, Consumer Durables and Health care are trading on the higher side. 

Asian Markets are trading on a very quiet note. The three major indices namely Nikkei, Hang Sang and Shanghai are trading marginally in the green zone. European Markets have opened in the negative territory with the three major Index CAC, DAX and FTSE trading down in the range of 0.11 to 0.38 per cent. 

Back home, TCS is the leading index loser down 4.31 per cent to Rs 1117.15. Other stocks like BHEL, RIL and SBI are some other stocks which are trading down by more than 2 per cent. Private banking heavyweights HDFC bank and ICICI bank are also trading lower by 1.70 and 1.47 per cent respectively. Auto stocks like Maruti Suzuki, Hero Motocorpn and Tata Motors are trading lower by around 1 per cent.  Stocks like Cipla and Tata Steel are trading marginally in the red zone. On the other hand FMCG major ITC is trading higher by 2.64 per cent at Rs 221.80, supporting the market from moving southwards. Other socks like NTPC, Sterlite Industries, Gail India, ONGC etc are trading marginally in the green zone.   

Acrysil is trading 2.62 per cent down to Rs 96.65; despite securing an export order valued Rs 4.47 crore. Welspun Corp is up 3.29 per cent to Rs 141.25, after the news that SEBI has lifted trading restrictions on promoters. 

The market breadth, indicating the overall health of the market, is weak. A total of 1582 shares declined while 1030 shares have gained. An aggregate of 111 shares remained unchanged. 

In conclusion, we expect the markets to remain volatile for the rest of the day and advise readers to play with cautious. 


Benchmark Indices

Index

Rate

% Change

FTSE

5959.21

-0.11

DAX

7135.38

-0.31

CAC

3581.25

-0.38

Hang Seng

21333.93

0.08

Nikkei

10141.99

0.12

Shanghai

2409.25

0.19

SENSEX

17350.03

-0.67

NIFTY

5280.35

-0.71


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