Markets End The Day In Positive

Indian Markets recovered from yesterdays shock and closed the day with over a per cent gain. Among the sectoral indices, Realty, Teck and IT closed the session with more than a per cent gain while Metals and Consumer durable remained subdued.

On the other hand, major Asian Markets closed in negatives with more than a per cent loss. This is on the back of concerns of slowdown in the Chinese economy impacting the global growth prospects. European markets are currently trading in a volatility with FTSE inching little higher while CAC and DAX trading on a lower side.

The Dow Jones Futures is currently trading 2 points or 0.01 per cent down at 12999 indicating a neutral to negative sentiment in the US markets.

Back home, Hero MotoCorp is the biggest Index gainer which closed with over 4.45 per cent intraday gains to Rs 2025. Other stocks like Bharti Airtel, Sun Pharma, Gail India, HDFC bank etc traded higher by over 2 per cent. IT shares like Infosys and TCS closed higher by 1.44 and 1.41 per cent from yesterday’s closing respectively. Other stocks like SBI, L&T, NTPC, HDFC closed marginally in the green zone. Jindal steel, Maruti Suzuki, ONGC, Coal India etc on the other hand closed the session lower in the range of 1 to 2 per cent. Metal stocks i.e. Hindalco, Sterlite Industries and Tata Steel closed lower by nearly a per cent.  

BHEL by closing was up by 1.97 per cent to Rs 266.10, after the news that company would announce tentative Q4 results on 3^rd April 2012. Dolphin Offshore closed 5 per cent higher to Rs 88.40, after company received contract worth Rs 270 crore. 

The market breadth, indicating the overall health of the market, was negative. Out of 3333 stocks traded, 2326 declined while 902 stocks advanced. A total of 105 stocks remained unchanged.

In conclusion, we expect the markets to remain volatile next week as well. We don’t see any major overhaul in the Investor sentiment remain very jittery to invest in this volatile market conditions.