Daily Market Review - Apr 15 2010

Markets could not sustain morning gains and closed deep in the red after a sustained downward drift throughout the trading session. Sensex lost 182 points to close at 17639 while Nifty ended at 5273, down 49 points. Our markets were down the most among all the Asian markets. BSE Mid-cap and Small-cap indices lost 0.2% and 0.6% respectively. Oil & Gas index lost nearly 2%, dragged down by the heavyweight Reliance. Realty stocks however bucked the trend and closed with smart gains. Inflation for the month of March came in at 9.90% versus 9.89% in February. European markets were trading flat while US stock indices futures were down about a fourth of a percent ahead of jobless claims, Industrial production and housing data.

Oil & Gas index and Bankex were the top losers among the sectoral indices, shedding 1.8% and 1.4% respectively while Realty and Consumer Durable indices gained 1.6% and 0.7% respectively. Unitech and Cairn gained the most among the Nifty stocks, up 3.6% and 1.6% respectively while Kotak Bank and Reliance were down the most, losing 3% and 2.6% respectively. BSE advance-decline ratio stood at 1:1.4.