Political Uncertainty Looms Large, Markets Dip Into Red
Suparna / 25 Mar 2013
The Indian markets slipped into the red by day's end on reports that the Samajwadi party may withdraw support to the UPA. The Nifty closed down at 5633 today and Sensex was at 18,680. The Essar Oil stock rallied around 9% today.
After a good run in the earlier part of the day, the Indian markets slipped into the red on reports that the Samajwadi party may withdraw support to the UPA. The market sentiments have worsened ever since the DMK withdrew support to the UPA last week, and it increasingly appears that elections could be held a little earlier than scheduled. The Nifty closed down by 17 points at 5633 today and Sensex was 55 points lower at 18,680.
The advance-decline ratio was on the negative side by the end of day. On the NSE, 912 shares closed in the red and 517 shares were positive.
Top 5 NSE Gainers: DLF ended as the top gainer, up by 5.07%, followed by ONGC, NTPC, Bharat Petroleum and Power Grid Corporation.
Top 5 NSE Losers: IDFC ended down by 2.55%. Bank of Baroda, L&T, Tata Steel and Ambuja Cements were among the others that closed in the negatives.
Most of the sectoral indices ended lower. Realty, Power and PSUs were in the positive zone, but Capital Goods, Metal and Auto finished down in the range of 0.64%-1.74%.
The Asian markets, however, have closed higher. Nikkei 225 closed up by 1.66% at 12,546, followed by KOSPI trading up by 1.46%. Taiwan Weighted and Hang Seng also ended higher. China’s Shanghai Composite was the sole market which closed in the negative territory.
The European markets are also trending up. The CAC 40 is trading with gains of 1.56%, DAX is up by 1.33% and FTSE 100 has gained 0.66% so far.
Buzzers: Private oil & gas producer Essar Oil rallied around 9% in today’s trades, primarily on value buying. The stock had dropped more than 20% in 8 out of the previous 9 trading sessions. The hike in diesel price by OMCs on Friday (March 22) also proved to be another trigger for today’s rally in the stock, which has also seen a sharp jump in volumes.
Strides Arcolab ended down by 3.87% at Rs 827. The stock opened at Rs 860.80 and registered an intraday high of Rs 879.70.
The Nifty notched up a high of 5718 and saw some profit booking today. As mentioned in our update, the market faces an immediate resistance around the 5720 levels.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.