Trades Flat, United Breweries On New High
Shrikant / 26 Sep 2012
The Indian markets have continued to trade negative today. The fresh remarks on QE3 have dragged the markets down. The BSE Sensex is currently trading down by 0.3% and Nifty is down by 0.25%.
The Indian markets have continued to trade negative today. The fresh remarks on QE3 have dragged the markets down. The BSE Sensex is currently trading down by 0.3%, while the 50-share Nifty is down by 0.25%.
The scenario in Asia is similarly negative. The Japanese Nikkei tanked by over 2% by closing, Shanghai Composite was down by over 1% and Hang Seng lost 0.85%. Other indices in Asia are also in the red.
The opening in Europe was weak, as we expected it to be. CAC and DAX have opened more than 1% lower, while UK’s FTSE is trading down 0.8%. All the indices in the world are currently beaten up following fresh criticism by non-voting US Federal Reserve member, Charles Plosser, who commented that the QE3 may not be successful in bringing the US economy back on to the growth path.
| Benchmark Indices | Current Value | Change (%) |
|---|---|---|
| BSE Sensex | 18630.85 | -0.34% |
| Nifty | 5659.35 | -0.26% |
| Hang Seng | 20,526.44 | -0.84% |
| Nikkei | 8,906.70 | -2.08% |
| Shanghai | 2,004.17 | -1.25% |
| FTSE | 5,811.96 | -0.81% |
| CAC | 3,464.46 | -1.40% |
| DAX | 7,332.22 | -1.25% |
Among the sectoral indices, FMCG is up 1.02% and Healthcare has surged by nearly 1%. The Realty index, which was witnessing good buying, has come down sharply and is currently trading only marginally up. CD and Oil & Gas are the only other two indices with gains. CG is the top loser, down by 0.84%.
Of the Sensex stocks, Cipla has held its ground with over 2% gains. HUL is also trading higher by over 1%. Bharti, though, has maintained its losing streak and is down by about 4%. Coal India, Hindalco, Jindal Steel, Sterlite and Tata Steel are also among those trading down.
In the ‘A’ group, Pantaloon Retail has surged as the move supporting FDI in multi-brand retail will help the company to boost its business. Investors are also seeing a buying opportunity in Cummins India, and the stock has moved up by 4%. Voltas, IPCA, Emami, ACC and Gujarat Gas all have shot up by 3%. On the other hand, IDFC, Manappuram Finance, PFC, GMR, Lanco, etc. have declined by over 3% each.
The shares of United Breweries have touched a new high. The company is in contact with Diageo PLC to sell some of the promoters’ stake.
The advance-decline ratio on the BSE is showing one decline for every one gain. Thus, the market breadth is mixed, with no clear direction.
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