Markets End Day Lower
Chandrakant / 28 Mar 2012
After extending their losses in the afternoon trade, the Indian markets closed in the red zone, with the Nifty closing below the 5200 level. Weak global cues, a depreciating rupee and the near-term expiry of the March contract kept the markets volatile and negative. The Sensex and Nifty closed down by 0.79% and 0.92% respectively.
After extending their losses in the afternoon trade, the Indian markets closed in the red zone, with the Nifty closing below the 5200 level. Weak global cues, a depreciating rupee and the near-term expiry of the March contract kept the markets volatile and negative. The Sensex and Nifty closed down by 0.79% and 0.92% respectively.
Other Asian markets closed on a negative note today. The markets were seen consolidating post the rally seen after the favourable comments of the US Fed Chairman, Ben Bernanke.
The European markets continue to trade on a flat positive note. The markets remained quite flat, as investors were seen booking profits with no new positions due to the weak economic scenario. The Fed Chairman, Ben Bernanke also warned that a US economic recovery isn’t assured, which led to weak market sentiments.
Dow Jones Futures is currently trading 29 points or 0.22% up at 130153, indicating a positive sentiment in the US markets.
| Benchmark Indices | ||
|---|---|---|
| Index | Closing | % Change |
| SENSEX | 17121.62 | -0.79 |
| NIFTY | 5194.75 | -0.92 |
| Hang Seng | 20885.41 | -0.77 |
| Nikkei | 10182.57 | -0.71 |
| Shanghai | 2284.88 | -2.73 |
| Live | ||
| FTSE | 5859.67 | -0.17 |
| DAX | 7074.83 | -0.06 |
| CAC | 3468.53 | -0.03 |
Back home, in the BSE sectoral indices, FMCG and Pharma closed with marginal gains of 0.29% and 0.22% respectively. All the others closed with losses between 0.19%-3.32%. Of the major losers, Consumer Durables, Bankex and PSU were down by 3.32%, 1.73% and 1.58% respectively.
| Sectoral Indices | |||
|---|---|---|---|
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,190.94 | -54.12 | -0.87 |
| SMLCAP | 6,451.49 | -70.56 | -1.08 |
| BSE-100 | 8,981.26 | -82.76 | -0.91 |
| BSE-200 | 2,113.34 | -19.33 | -0.91 |
| BSE-500 | 6,617.16 | -59.78 | -0.90 |
| Sectors | |||
| FMCG | 4,472.53 | 13.03 | 0.29 |
| HC | 6,446.40 | 13.86 | 0.22 |
| CG | 9,995.22 | -18.7 | -0.19 |
| AUTO | 9,844.00 | -61.95 | -0.63 |
| IT | 6,021.39 | -50.88 | -0.84 |
| METAL | 11,017.45 | -94.86 | -0.85 |
| TECk | 3,528.26 | -31.11 | -0.87 |
| POWER | 2,057.48 | -23 | -1.11 |
| OIL&GAS | 7,850.45 | -97.71 | -1.23 |
| REALTY | 1,725.77 | -27.61 | -1.57 |
| PSU | 7,138.44 | -114.75 | -1.58 |
| BANKEX | 11,475.87 | -202.4 | -1.73 |
| CD | 6,293.15 | -216.33 | -3.32 |
Among the Sensex shares, BHEL, Coal India, DLF, GAIL, Maruti Suzuki and Tata Steel closed with leading gains of 0.23%-2.02%. From the major losers, Hindalco, SBI and Sterlite closed with losses of 2.75%, 2.75% and 2.32% respectively. All the other stocks ended in negative territory between 0.24%-2.75%.
In individual stocks, Titan Industries closed down by 6% after Morgan Stanley downgraded the stock to underweight. Dr Reddy's Labs and Lupin were up over drug launches in the US market.
The market breadth, which indicates the overall health of the market, was negative. Out of the 3345 stocks traded on the BSE, 2263 declined, 986 advanced and 96 remained unchanged.
| Advance-Decline Table | |||
|---|---|---|---|
| Index | Advances | Declines | Unchanged |
| BSE 30 | 9 | 21 | 0 |
| BSE 200 | 59 | 141 | 0 |
| BSE 100 | 29 | 71 | 0 |
| BSE 500 | 149 | 345 | 6 |
| Others | 740 | 1685 | 90 |
In conclusion, we expect the markets to remain volatile this week ahead of the Expiry, as traders roll over the positions from March 2012 to April 2012. Therefore, we ask investors to remain cautious.
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