Markets remain sluggish
Chandrakant / 29 Mar 2012
After opening on a weak note today, the Indian markets extended some of their losses amid weak global cues with the current month’s expiry and no major positive news coming from the Indian markets. The Sensex and Nifty are marginally down by 0.67% and 0.60% respectively.
After opening on a weak note today, the Indian markets extended some of their losses amid weak global cues with the current month’s expiry and no major positive news coming from the Indian markets. The next major trigger for the Indian markets will be the Q4 and full year earning results. The Sensex and Nifty are marginallydown by 0.67% and 0.60% respectively.
Other Asian markets continue to trade on a negative note. China's Shanghai is down by 1.45%, while Hang Seng and Nikkei were down by 1.37% and 0.67% respectively. Weak economic data coming in from US and Europe dented investor sentiment over the slowdown in global growth.
The European markets fell for the third consecutive session and opened on a negative note today. London's FTSE is down by 0.04%, while DAX and CAC are also down by 0.18% and 0.03% respectively.
| Benchmark Indices | ||
|---|---|---|
| Index | Rate | % Change |
| FTSE | 5,808.06 | -0.01 |
| DAX | 6,980.46 | -0.13 |
| CAC | 3,426.53 | -0.18 |
| Hang Seng | 20,634.86 | -1.22 |
| Nikkei | 10,114.57 | -0.67 |
| Shanghai | 2,252.16 | -1.45 |
| SENSEX | 17004.85 | -0.67 |
| NIFTY | 5163.15 | -0.60 |
Back home, among the BSE sectors, Pharma and Consumer Goods are the only indices that are up with marginal gains of 0.11% and 0.02% respectively. All the other indices are down between 0.09%-1.31%. CG, FMCG and Teck are leading with losses of 1.31%, 1.22% and 1.09% respectively.
From the Sensex shares, barring few stocks, all the scrips are trading in the negative zone. Among the losers, Bajaj Auto, Bharti Airtel, BHEL, Cipla, HDFC, Infosys, ITC, Tata Steel, etc. are down between 0.40%-1.78%. Of the few gainers, Coal India is leading with gains of 1.51%, while Hero MotoCorp, Jindal Steel and RIL are marginally up by 1.40%, 0.94% and 0.14% respectively.
The market breadth, which indicates the overall health of the market, is negative. On the BSE, 1370 shares fell, 1192 shares rose and 119 shares remained unchanged.
We expect the markets to remain volatile with a negative bias for the rest of the day, and advise readers to play with caution.
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