Sensex dips below 20,000...Broader market slumps

After having a turbulent November, the first week of December began with smart gains. However, the Indian markets ended the week on a slightly sour note with the broader market particularly badly battered.



The Realty, Metals and Banking stocks led the decline. While select IT and Auto stocks managed to buck the negative trend. The BSE Mid-Cap and the BSE Small-Cap index lost 2.3% and 3%, respectively.

Today’s marginal fall in the key stock indices was seen despite an extended rally in the US and other world markets. Better than expected US economic statistics coupled with the ECB's decision to extend liquidity support measures to banks underpinned the positive sentiment across risky asset classes. However, all eyes would be on the monthly US jobs data that will be released before the opening bell on Friday," says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex slipped 26 points to close at 19,966 and the NSE Nifty slipped 19 points to close at 5,993.

Among the BSE sectoral indices, the BSE Realty index was the top loser the index lost 4%, followed by BSE Consumer Durables index down 3.8% and the BSE Metal index slipped 1%. The broader indices also ended in red, the BSE Mid-Cap index was down 2.3% and BSE Small-Cap index fell 3%.

The European indices were trading in the green, the DAX in Germany was up 0.2%, the CAC 40 index in France was up 0.6% and FTSE index was trading higher by 0.2%.

Outside the frontline indices, the big losers in the broader market were Welcorp, Videocon Ind, JP Infra, Bhushan Steel and OBC. On the other hand, gainers included DB Realty, NMDC, Renuka Sug and Jet Airways.