Edgy Day Ends In Losses

After witnessing nervous trading sessions, the Indian markets closed on a negative note today. Both the Sensex and Nifty closed with losses of 0.10% and 0.17% respectively. Weak quarterly earnings result from the corporates and falling rupee has dented investor sentiment. Of the sectoral indices, Auto, Metals, Bankex and Realty closed lower by 2.43%, 1.75%, 1.74% and 1.45% respectively. IT and Teck are the only indices that closed in positives.

The other Asian markets closed on a mixed note, with Hang Seng trading lower and Shanghai trading with marginal gains. The markets are looking nervous as the data on global jobs has disappointed. Further, the Chinese service industry has signalled weaker economic growth. The Nikkei market is closed for the day.

European markets continue to trade on a positive note, with the CAC, DAX and FTSE trading higher in the range of 0.5%-1.12%. One of the largest French banks reported a higher profit than the street's expectations. The markets have also opened higher on speculations that the Spanish bond auction will go through.

FMCG company, Marico, fell by 1% after posting weak consolidated net profits, which fell by 2.68% to Rs 69.69 crore in Q4 2012 as compared to the same period last year.

IRB Infrastructure tanked by 10.90% on the BSE after the news that the company's chairman is being investigated for possible involvement in a murder case.

Investors should watch out for stocks like BOB, Gillette India and Corporation Bank, some of the big counters that are going to post their Mar 2012 quarter results. These stocks may see a price movement.

The market breadth, which indicates the overall health of the market, was negative. Out of the 3211 stocks traded on the BSE, 1987 declined, 11115 advanced and 109 remained unchanged.