Markets trade in negative zone
Chandrakant / 26 Mar 2012
Continuing to trade weak, the Indian markets opened on a negative note today. Both the Sensex and Nifty are down by 1.34% and 1.06% respectively.
Continuing to trade weak, the Indian markets opened on a negative note today. Last week, the markets remained weak due to various dramatic political events like the rolling back of railway tariff hikes and the CAG coal block report. Both the Sensex and Nifty are down by 1.34% and 1.06% respectively.
Other Asian markets opened on a mixed note on continued concerns over the weak US economic data.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| Hang Seng | 20,673.46 | 0.02 |
| Nikkei | 10046.36 | 0.35 |
| Shanghai | 2351.87 | 0.10 |
| SENSEX | 17129.71 | -1.34 |
| NIFTY | 5222.50 | -1.06 |
All the sectoral indices are trading down, barring Consumer Durables. Bankex, Power and Realty are leading with losses of 1.32%, 1.30% and 1.29% respectively. Others like Oil & Gas, PSU and IT are down between 0.12%-1.10%.
Among the Sensex shares, barring a few stocks, all the shares are trading in the negative zone. Among the major losers, BHEL, ICICI Bank and TCS are down by 2.09%, 2.74% and 2% respectively. The others are down by 0.22%-1.95%.
The market breadth, which indicates the overall health of the market, is negative. On the BSE, 1140 shares fell and 946 shares rose. 79 shares remained unchanged.
We expect the market 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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