Markets Turn Negative

Vidrum / 20 Mar 2012

Indian markets have turned negative after trading in the green for the first half of the trading day.
Indian markets have turned negative after trading in the green for the first half of the trading day. At present both the Indices are trading lower, with Sensex down 31 points while Nifty down 16 points. All the sectoral, are trading in the green zone except Auto which is trading lower down almost 2 per cent. While Indices like Consumer Durables, FMCG, Health care, Metals etc are trading higher in the green zone.    

Asian Markets extended their morning losses with Hang seng and Shanghai trading down more than a per cent. This is due to China which raised fuel prices for the second time in less than last six weeks. European markets have also opened on the negative note. 

Back home, Auto stocks are down on the back of news that petrol and diesel price will be hiked news. Tata motors, Bajaj Auto, Maruti Suzuki, Hero Motocorp etc are major Index losers down in the range of 1 to 4 per cent. BHEL after starting on a positive note is down 1.67 per cent to Rs 255.95, extending yesterday’s losses. Other stocks like ONGC, SBI, Sterlite Industries, HUL, RIL etc are trading marginally in the red zone. On the other hand Sun Pharma is the leading Index gainer up 2.49 per cent to Rs 568. Other stocks like TCS, ITC, Jindal steel and Cipla are trading higher more than a per cent.     

Thomas Cook is trading 0.76 per cent higher at Rs 66.15, after the company launched “Travel and Learn Packages”. Four soft is up 6.17 per cent to Rs 9.29, after the company clinches deal from scan global logistics A/S for 4S products. 

The market breadth, indicating the overall health of the market, is weak. A total of 1602 shares declined while 1048 shares have gained. An aggregate of 145 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

5933.13

-0.47

DAX

7112.69

-0.58

CAC

3559.71

-0.51

Hang Seng

20886.95

-1.08

Nikkei

10141.99

0.00

Shanghai

2376.84

-1.38

SENSEX

17232.26

-0.18

NIFTY

5240.5

-0.31

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