Markets Continue To Trade Flat
Chandrakant / 02 May 2012
The Indian markets have lost some of their early gains, but continue to trade in the positive zone. At present, both the indices are trading with gains, with the Sensex at 17323 and Nifty at 5246.
The Indian markets have lost some of their early gains, but continue to trade in the positive zone. At present, both the indices are trading with gains, with the Sensex at 17323 and Nifty at 5246. Among the sectors, the defensive indices like Consumer Durables and FMCG moved higher by more than 1% each, while Auto and Oil & Gas are trading lower.
Other Asian markets continue to trade on a positive note, with the Hang Seng up by 1.13%, Nikkei up by 0.31% and Shanghai in gains of 1.73%. The Chinese markets are trading on a higher note on the back of the positive manufacturing data reported by the economy. The positive sentiment is also on account of the fact that the nation’s two stock exchanges have said that they will cut trading fees by 25 per cent to attract investors.
The European markets opened in the green today after stronger-than-expected US manufacturing data gave a lift to the global growth hopes. However, other European economic data will be released today, which is not expected to provide any boost. We can see some downward pressure on the equity markets later.
| Benchmark Indices | ||
| Index | Rate | % Change |
| FTSE | 5797.67 | -0.26 |
| DAX | 6815.01 | 0.79 |
| CAC | 3238.01 | 0.80 |
| Hang Seng | 21321.77 | 1.06 |
| Nikkei | 9380.38 | 0.31 |
| Shanghai | 2438.44 | 1.73 |
| SENSEX | 17323.07 | 0.03 |
| NIFTY | 5246.85 | -0.04 |
Back home, the Auto stocks are continuing to trade lower after the sales volume data for the month of April 2012 was released, which remained subdued. Stocks like Tata Motors, Bajaj Auto and Maruti Suzuki are trading lower in the range of 1%-3%. Though Maruti Suzuki posted decent sales growth, its month-on-month sales dropped 20%. Tata Motors’ exports also took a major hit, while two-wheeler major TVS Motors too posted flat sales in April 2012.
Bharti Airtel rose by 2.745% to Rs 318 today on the back of decent quarterly results reported by the company. Its consolidated revenue grew by 15% to Rs 18729 crore on a YoY basis. The revenue growth in Q4 was fuelled by increased customer additions and strong minutes growth in India.
HUL continued to trade higher after posting better-than-expected result for the March 2012 quarter. The jump in the sales volume helped the company to report favourable numbers.
JSW Energy surged 3.76% after its consolidated net profit rose by 9.5% to Rs 225.32 crore and the net sales grew by 43.1% on a YoY basis to Rs 2036.07 crore in Q4 2012.
The market breadth, which indicates the overall health of the market, is neutral. On the BSE, 1317 shares gained, 1318 shares declined and 131 shares remained unchanged.
We expect the markets to remain flat and positive for the rest of the day ahead of the result announcements due today.
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