Nifty Closes Below 5200 Level
Chandrakant / 26 Mar 2012
After extending their losses in the afternoon trade, the Indian markets closed in the deep red zone, with Nifty closing below the crucial 5200-mark.
After extending their losses in the afternoon trade, the Indian markets closed in the deep red zone, with Nifty closing below the crucial 5200-mark. Rising bond yields, a depreciating rupee and the new tax norms under the General Anti-Avoidance Rule (GAAR) for FIIs would impact the investment in the capital market through the Mauritius route. Participatory notes also dented the sentiments among the Indian investors. The Sensex and Nifty closed down by 1.78% and 1.78% respectively.
Other Asian markets closed on a flat positive note, as investors were seen concerned over the impact on exporters' earnings due to Chinese government's resolution of focussing more on domestic consumption-driven growth than export-oriented growth for FY12.
The European markets continue to trade on a flat positive note. The markets remained positive after a report that showed German business confidence rising unexpectedly in March 2012.
Dow Jones Futures is currently trading 53 points or 0.41% up at 13085, indicating a positive sentiment in the US markets.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17052.28 | -1.78 |
| NIFTY | 5184.25 | -1.78 |
| Hang Seng | 20668.26 | 0.00 |
| Nikkei | 10018.24 | 0.07 |
| Shanghai | 2350.6 | 0.05 |
| Live | ||
| FTSE | 5884.87 | 0.51 |
| DAX | 7046.28 | 0.72 |
| CAC | 3482.09 | 0.17 |
Back home, all the BSE sectoral indices closed in the negative territory. Realty, Power and Banks remain the major losers, closing down with losses of 3.58%, 2.56% and 2.44% respectively. All the other indices have closed down between 0.40%-2.19%.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,249.17 | -101.75 | -1.60 |
| SMLCAP | 6,533.36 | -92.99 | -1.40 |
| BSE-100 | 8,968.22 | -167.28 | -1.83 |
| BSE-200 | 2,112.12 | -38.95 | -1.81 |
| BSE-500 | 6,619.91 | -118.01 | -1.75 |
| Sectors | |||
| FMCG | 4,385.59 | -17.71 | -0.40 |
| HC | 6,391.41 | -75.35 | -1.17 |
| IT | 6,011.44 | -83.64 | -1.37 |
| AUTO | 9,860.50 | -138.12 | -1.38 |
| CD | 6,377.24 | -91.91 | -1.42 |
| TECk | 3,516.18 | -52.92 | -1.48 |
| CG | 9,933.48 | -178.27 | -1.76 |
| OIL&GAS | 7,910.02 | -149.06 | -1.85 |
| PSU | 7,234.73 | -148.15 | -2.01 |
| METAL | 10,978.06 | -245.35 | -2.19 |
| BANKEX | 11,570.74 | -289.68 | -2.44 |
| POWER | 2,081.89 | -54.7 | -2.56 |
| REALTY | 1,726.42 | -64.09 | -3.58 |
Among the Sensex shares, all the scrips have closed in the negative zone. Tata Power, CIPLA, ICICI Bank and Sterlite Industries remain the top losers and closed down with losses of 3.77%, 4.10%, 4.30% and 4.16% respectively. The other stocks have closed down with losses between 0.24%-3.57%.
The market breadth, which indicates the overall health of the market, was negative. Out of the 3317 stocks traded on the BSE, 2245 declined, 958 advanced and 114 remained unchanged.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 0 | 30 | 0 |
| BSE 200 | 28 | 171 | 1 |
| BSE 100 | 11 | 89 | 0 |
| BSE 500 | 96 | 398 | 6 |
| Others | 823 | 1557 | 107 |
In conclusion, we expect the markets to remain volatile throughout the week ahead of the Expiry, as traders roll over the position from March to April 2012. Therefore, we ask investors to remain cautious.
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