Down three days in trot

It was a day of red for the global markets and the Indian stock market that had ignored the global cues over the last few weeks fell in line today. The disappointment started with the negative close of the US and European indices on Tuesday. Today ie on Wednesday the Asian indices followed the global trend and declined marginally. The Sensex was no different—it traded in the negative zone and remained range bound for the most part of the day. However, amid heavy selling in automobile, fast moving consumer goods (FMCG) and banking stocks, the Sensex slipped further and closed 1.24% below its yesterday’s closing. All the major Asian indices ended the day with the losses in the range of 0.03-1.06% each, with the Sensex losing the most—214 points or 124 basis points down . In today's trade, European indices (FTSE 100) opened higher, but was trading lower at 5201, down 42 points below its previous closing at the time of writing this report.

The Sensex that had opened at 17230, seven points higher, remained volatile and traded range-bound for the most part of the day. Alike the last few trading sessions, the bellwether lost steam during the closing trades and ended the day 1.24% lower on heavy selling in automobile, FMCG and banking space doubled with weak European opening. The Sensex during the day once breached the 17000 level to hit the low of 16998. However, it managed to close above the important level of 17000 at 17009, though down by 214 points. Nifty declined by 51 points to end the day at 5064 and followed the Singapore Nifty that ended the day losing 34 points. The market breadth was negative, as out of 2,835 stocks traded on the BSE, 1,564 stocks declined, whereas 1,178 stocks advanced. Ninety three stocks ended unchanged.

Among the sectoral indices only BSE Realty, BSE TECk and BSE IT closed in the green with marginal gains. The rest of the sectoral indices closed in red. Among them BSE Auto fell the most by 2.36%, followed by BSE FMCG that was down by 2.06% and BSE Bankex that declined by 2.00%. On the stocks’ front, Hindustan Copper jumped the most and surged by 9.99% to Rs255.50, followed by Jet Airways that rose by 8.04% to Rs434.25. While stocks like HCL Technologies, Marico, Gujarat NRE Coke and Adani Enterprises ended the day with gains of over 3% each. Among the losers, Sesa Goa fell the most by 7.91% to Rs319.45, followed by Balrampur Chini that fell by 7.07% to Rs 132.20, while stocks like Divi's Lab, Alstom Projects, Bank of Baroda, Indian Bank, Renuka Sugar, Piramal Healthcare, Thermax and Hindustan Construction declined by over 4% each.

On the turnover front, Over 1.19 crore shares of Ispat Industries changed hands on the BSE followed by Unitech (1.15 crore shares), GVK Power & Infrastructure (0.75 crore shares), Reliance Natural Resources (0.53 crore shares) and DLF (0.50 crore shares).

Events outcome

Chambal Fertilisers sales slides by 45%
Yes Bank's PAT jumps by 75.6%