Market breaks 5-day rising trend

The Indian markets took a pause after gaining for the five successive sessions. The Sensex fell 85 points and the Nifty declined 27 points

Headlines for the day

FM to present budget on March 16
India’s GDP to grow 6.9% in FY12
Airline shares soar after govt allows import of ATF directly
M&M Q3 consolidated net profit surges by 16%
Cadila Healthcare Q3 consolidated net profit declines by 8%



Indian indices

Five-day winning run for the Indian markets broke today dragged down by negative European cues. Profit booking emerged after rally seen in the previous sessions. Weakness in capital goods, realty, power, metal, technology and auto stocks weighed on the markets. Index heavyweights like Infosys, HDFC, L&T, Bharti Airtel, Tata Steel, BHEL, SBI and M&M were the negative contributors to the Sensex.

Sensex movement: The Sensex opened the session at 17814, up by 106 points. The index remained in green for most part of the trade and touched the day's high at 17832 in the mid-morning session. However, the index slipped in the negative terrain in the afternoon trade on profit booking and weak European cues and touched the day's low at 17582. The Sensex closed 85 points lower at 17622 and the Nifty stood at 5335, down by 27 points.
Market sentiment
The market breadth stood weak. Of the 2996 stocks traded on the BSE, 1247 (41.62%) rose, 1630 (54.41%) fell and 119 (3.97%) remained unchanged.
Viewing volumes
One of the fastest growing airlines in the world - Jet Airways was traded the most, with over 0.60 crore shares changing hands on the BSE. Following that a non-banking financial company - Manappuram Finance - (0.55 crore shares), India's second largest developer - Unitech (0.52 crore share), industrial finance company - IFCI (0.44 crore shares) and wind turbine major - Suzlon Energy (0.43 crore shares).
Sectoral & stock screening
Among the 13 sectoral indices, nine closed lower. Top Gainers — BSE Oil & Gas up by 0.88%, BSE CD up by 0.61% and BSE Bankex up by 0.56%. Top Losers - BSE CG down by 2.29%, BSE Realty down by 2.10% and BSE Power down by 1.98%.
Among 'A' group stocks, top three gainers - Jet Airways up by 14.48%, TTK Prestige up by 12.97% and Central Bank of India up by 10.44%. Top three losers - Manappuram Finance down by 19.96%. Adani Power down by 9.43% and Adani Enterprises down by 7.55%.
Global Indices:
The European shares fell on Tuesday (February 7, 2012), after disappointing earnings reports from UBS and Alfa Laval and as Greece remained in danger of failing to secure a new bailout to avoid a chaotic default on its debt.
The Asian stock markets ended mixed on Tuesday, with investors retreating after Greece again failed to cut a deal on tackling its debt mountain.
The US stock index futures pointed to a dip at the open on the Wall Street on Tuesday.