Markets end volatile session in red; RIL rallies 5%

The Indian markets closed the volatile session in the negative terrain, with the Sensex down by 15 points and the Nifty down by 12 points.

Major headlines

RIL Board to mull Buy back on Jan 20

Aviation rise on govt nod for 49% FDI

Bajaj Finance gains after posting Q3 results

Zee News gains on Q3 results

KEC Intel gains on securing order worth Rs340 cr



Indian Indices

Indian markets closed today's trade on a negative note oscillating on either sides of the equator. The markets saw some green in the morning session but failed to maintain it till the close. Persistent selling pressure in metal, technology, capital goods, PSU and power stocks led the decline. Major heavyweight draggers were- Infosys, ICICI Bank, TCS, L&T, Tata Steel, M&M and Coal India, while Reliance Industries (RIL) was the top performer and gained 5% on news of share buyback plan. The European markets were also trading mixed.

Fitch ratings has cut India's FY12 GDP growth forecast to 7% (from 8.5%) and FY13 growth forecast to 7% from 8% earlier.

Sensex movements: The Sensex started the trade 36 points higher at 16502 as against the previous close of 16466. Then the index moved upwards to touch the day’s high of 16518 in the morning session. In the afternoon session, the markets swung between gain and losses and touched the intra day low at 16384. The Sensex closed 15 points lower at 16451 and the Nifty stood at 4956, down by 12 points.

Market sentiment

The market breadth stood in favour of declines. Of the 2905 stocks traded on the BSE, 1086 (37.38%) rose, 1702 (58.59%) fell and 117 (4.03%) stocks remained unchanged.

Viewing volumes

A fully integrated oil company - Essar Oil was traded the most, with over 0.79 crore shares changing hands on the BSE. An integrated infrastructure development company - Lanco Infratech (0.53 crore shares), Wind turbine major - Suzlon Energy (0.47 crore shares), India's second largest developer - Unitech (0.40 crore shares), Industrial Finance Company - IFCI (0.36 crore shares).

Sectoral & stock screening

Among the 13 sectoral indices, 11 indices closed in red zone. Top Gainers - BSE Oil & Gas rose by 3.12%, BSE Realty up by 0.61%. Top Losers: BSE Metal fell by 2.19%, BSE IT down by 2.16%, BSE CG declined by 2.04%.

Among 'A' group stocks, top three gainers were - Adani Enterprises advanced by 7.26%, Jet Airways (India) rose by 4.96% and Reliance Industries rose by 4.94%. Top three losers were- Essar Oil fell by 11.53%, Voltas down by 10.96%, and JSW Ispat Steel slipped by 6.24%.

Global signals

The European shares traded mixed on Wednesday (January 18, 2012), as the World Bank cut its global growth forecast. The World Bank today sharply lowered its global economic growth forecast for 2012 to 2.5%, citing European financial turmoil and weak growth prospects in emerging nations, including India. The multilateral agency had earlier projected that the world economy would expand by 3.6% this year. Markets overshadowed reports that Greece is nearing a debt deal with private creditors though.

The Asian stock markets traded mixed on Wednesday, the day after economic data soothed global worries, and the focus returned to Europe with Portugal testing investor confidence in a debt sale and Greece resuming talks on its debt restructuring.

The Stock index futures pointed to a higher open for equities on Wall Street on Wednesday.

Market Outlook: Data to be released in US on Wednesday - Industrial Production, Producer Price Index and Housing Market Index.