Volatile trade ends in red

The Indian markets closed the volatile session on a negative note after two-day rise. The Sensex fell 57 points and the Nifty declined 16 points

Headlines for the day

Telcos fall as DoT demands Rs1,590 cr for understating revenue

India's services sector grows at fastest pace in 5 months

Union Budget to be presented after March 9

NSE to conduct LIVE trading session on Jan 07



Indian indices

The Indian markets were highly volatile in today’s trade after yesterday’s big gains. Gains in PSU, capital goods, banking, metal, power and pharma stocks led the upmove while losses in FMCG, technology and auto stocks added pressure. Global cues were also not supportive today.

Sensex movement: The Sensex started the trade at 15967, up by 28 points and then turned volatile. Swinging between gains and losses, the index touched an intraday high of 16005 in the afternoon trade and a low of 15822 in the mid-afternoon session. The Sensex stood 57 points lower at 15883 and the Nifty settled at 4750, down by 16 points.

Market sentiment

The market breadth was positive. Of the 2834 stocks traded on the BSE, 1499 (52.89%) rose, 1200 (42.34%) fell and 135 (4.76%) were unchanged.

Viewing volumes

Industrial finance company – IFCI was traded the most, with over 0.44 crore shares changing hands on the BSE. Following that, company engaged in producing refined copper - Hindustan Copper (0.44 crore shares), Wind turbine major - Suzlon Energy (0.41 crore shares), India's largest automobile company – Tata Motors (0.36 crore shares) and India's premier bullion trader - MMTC (0.27 crore shares).

Sectoral & stock screening

Among the 13 sectoral indices, seven were in red. Gainers - BSE PSU up by 1.73%, BSE CG up by 1.10% and BSE Bankex up by 0.69%. Losers - BSE Auto down by 1.21%, BSE TECk down by 0.88% and BSE CD down by 0.67%.

Among 'A' group stocks, top three gainers - MMTC up by 17.76%, Hindustan Copper rose by 15.27% and Rashtriya Chemicals & Fertilizers surged by 12.53%. Top three losers - Bajaj Holdings & Investment declined by 5.63%, Bajaj Auto fell by 4.70% and Mahindra & Mahindra dipped by 4.25%.

Global Indices:

The European shares declined on Wednesday (January 04, 2012), with banks down on concerns a cash-strapped market will make it expensive for them to raise capital and for euro-zone countries to refinance debt.

The Asian stock markets were largely higher on Wednesday, fueled by hopes that manufacturing output in the US and China were coming in strong enough to suggest the global economy is picking up more steam than previously thought.

The US stock index futures pointed to a mixed open on the Wall Street on Wednesday.

Market Outlook: In the US, Factory Orders and Motor Vehicle Sales data will be released on Wednesday.