Markets end volatile trade in red

European and US debt woes led to a cautious trade, with the Sensex closing 55 points down and the Nifty fell 14 points amid volatility

Major headlines

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Indian indices

The Indian indices witnessed volatility on the first day of the week and closed the trade in the negative terrain. Possibility of US debt default and endless European debt crisis dampened the mood of investors as well as traders globally. Technology, auto and healthcare stocks led the decline. The key indices ended in red for the second day in a row. It was overall a boring day, with the indices struggling to get direction on either side.

Sensex movements: The Sensex started the trade 30 points higher at 18592. The index gained momentum and touched the day’s high of 18623 in early trade. The index became directionless as the session progressed amid lacklustre trade. In mid-afternoon trade, the Sensex hit the day’s low of 18470 tracking weakness in the European equities and continuous selling in technology and auto stocks. The Sensex fell 55 points to close at 18507 and the Nifty settled 14 points lower at 5567.

Market sentiment

The market breadth stood positive. Of the 3,012 shares traded on the BSE, 1,546 shares advanced whereas 1,322 shares declined and 144 shares remained unchanged.

Viewing volumes

India's second largest developer - Unitech saw highest trading with over 0.22 crore shares changing hands on the BSE, followed by wind turbine major - Suzlon Energy (0.15 crore shares), a government hydro power firm - NHPC (0.12 crore shares), a microfinance company - SKS Microfinance (0.12 crore shares) and India's leading integrated infrastructure finance player - IDFC (0.11 crore shares).

Sectoral & stock screening

Out of 13 sectoral indices, six sectors closed higher. Gainers - BSE Realty gained the most by 0.89%, BSE Consumer Durables (CD) surged by 0.70% and BSE Metal rose by 0.48%. Losers - BSE Auto went down by 1.04%, BSE Information Technology (IT) slipped by 0.81% and BSE Healthcare (HC) fell by 0.80%.

In 'A' group stocks, the top three gainers were - Tata Communications gained by 5.13%, Videocon Industries surged by 4.39% and Godrej Industries rose by 4.05%. The top three losers were - Shree Renuka Sugars slipped by 2.04%, Tata Consultancy Services (TCS) fell by 1.97% and Tata Motors declined by 1.94%.

Global signals

The European stock markets slumped on Monday, with banks such as Societe Generale SA and Deutsche Bank AG falling as investors showed disappointment that recent stress tests didn’t address key worst-case scenarios, while sovereign-debt worries added to the selling pressure.



The Asian markets closed lower on Monday on the back of worries about Europe's banking woes and debt problems in the US. Nikkei index was shut for a public holiday.

Weak US stock futures signal lower opening on the Wall Street on Monday on lingering debt concerns.

Market Outlook: NAHB Housing Market Index data will be released in the US on Monday.