Markets Close The Day In Red

The markets traded in the red today taking cues from global developments. This was primarily driven by the uncertainty over the US's attempts to avert tipping over the fiscal cliff. Both, the Sensex and the Nifty closed lower by 1.01% and 1.16% respectively.

The scene wasn’t very different across other Asian markets with the Japanese Nikkei closing down by 0.99% while the Shanghai Composite and the Hang Seng having closed down 0.7% each. Despite an easy money policy announced by the BoJ, markets there continued to remain under pressure due to the uncertainty on the US ‘Fiscal Cliff’ side.

European markets were trading down with the FTSE trading 1% down. The DAX and the CAC are also trading down 0.7 each at the time of writing this report.

Back home, none of the sectoral  indices ended the day in the green. Realty was the top loser with a 3.5% intraday loss. It was followed by metals which lost 1.8%. CG, Power, Oil and gas, Auto, CD, PSU and Bankex also lost over 1% each by closing.

Among Sensex stocks only TCS and ITC managed to close the day in the green. On the other hand, a total of 28 stocks in the index closed in the red. Jindal Steel, Bharti Airtel and Sun Pharma closed with significant losses.

Amongst other individual stocks Glenmark Pharma surged 2.5% while State-owned CCI also surged nearly 3% today. NALCO, Pantaloon Retail, Havells India among others gained about 2% by closing.

Overall, the market breath was negative for the day with 1939 stocks having declined and 979 having advanced while the remaining 101 having remained unchanged.