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Friday, July 02, 2010
On reverse gear…Sensex slumps over a ton
The Indian markets ended in the red as weakness in the manufacturing PMI data and monthly auto sales overshadowed another strong month of trade data. Sentiment also remained subdued on account of downbeat global economic reports.
"Sentiments further got a hit after muted Auto monthly sales numbers, stocks like Tata Motors, Maruti and M&M witnessed some offloading", says Amar Ambani Vice President Research IIFL.
Finally, the BSE 30-share Sensex slipped 192 points to close at 17,509 and Nifty fell 63 points to end at 5,249.
Asian markets ended in the red, Japan's Nikkei Average slipped 2%, while the Hang Seng was closed. China’s Shanghai Composite Index lost 1% while Australia’s S&P/ASX 200 Index slipped 1.5%.
European stocks rebounded, FTSE index in UK was down 1%, CAC index in France was down 1.1% and DAX index in Germany fell 0.6%.
Barring the BSE Consumer Durables and the BSE FMCG index all the other sectoral indices ended in the red. BSE Metal index was the top loser, the index lost 1.8% followed by BSE Realty index, which was down 1.4% and BSE Auto index was down 1.2%. Even, BSE Mid-Cap index ended lower by 0.4% and the BSE Small-Cap index ended higher by 0.2%.
Outside the frontline indices, the big gainers in the broader market were Jain Irrigation, Koutons, Mphasis, BOB and Bank of India. On the other hand, loses included PNB, HDIL, Siemens and Gujarat NRE Coke.