Markets end with marginal losses

After struggling for direction, the Indian markets closed the session with modest losses. The Sensex fell 56 points and the Nifty down 19 points

Major headlines

Tata Motors global sales fall marginally in June

DB Realty Pune township project got cancelled

TTK Prestige Q1 net profit soars 58%



Indian indices

It was a dull session for markets. The key indices remained in a narrow range and ended with modest losses. Investors chose to remain on sidelines owing to lack of global support. Markets struggled for direction and waited for triggers. Selling in metal, auto, realty, FMCG and financial stocks put pressure on the markets.

Sensex movements: The Sensex opened the trade 76 points up at 18694 and after few minutes touched the day’s high of 19620. After touching higher level, the index lost momentum and slipped in red in early trade. Profit booking led the index to hit the day’s low of 18513 in mid morning trade. Decline in European stocks led the Sensex to trade lower. The Sensex fell 56 points to 18562 at the close and the Nifty ended at 5581, down by 19 points. After two positive sessions, the indices closed in red today.

Market sentiment

The market breadth stood in favour of declines. Of the 2,991 stocks traded on the BSE, 1,472 fell while 1,384 rose. However, 135 stocks remained unchanged.

Viewing volumes

India's second largest developer - Unitech was traded the most, with over 0.35 crore shares changing hands on the BSE. It was followed by wind turbine maker - Suzlon Energy (0.15 crore shares), a microfinance institution - SKS Microfinance (0.12 crore shares), an industrial finance company - IFCI (0.12 crore shares) and a public financial institution - Rural Electrification Corporation - (0.11 crore shares).

Sectoral & stock screening

Nine sectoral indices fell while rest four rose. On gainers' side, BSE Information Technology (IT) rose by 0.37%, BSE Power surged by 0.04% and BSE TECk went up by 0.02%. On losers' side, BSE Metal declined by 0.85%, BSE Auto slipped by 0.59% and BSE Realty down by 0.54%.

On 'A' group stocks' front, top three gainers - SKS Microfinance surged by 10%, MOIL rose by 3.97% and Jubilant FoodWorks up by 3.83%. Top three losers - Oracle Financial Services Software down by 3.83%, Zee Entertainment Enterprises slipped by 3.21% and Shree Renuka Sugars down by 3%.

Global signals

The European equities was trading lower on Friday with investors wary of further weakness ahead of European bank stress test results, and after Standard & Poors joined Moody's rating agency in its downbeat assessment of the US economy.

The Asian markets ended mixed on Friday. Nikkei up 0.39%, Shanghai Composite up 0.33% while Hang Seng down 0.30%, Straits Times down 0.14%.

The Wall Street is set for a negative opening on Friday.

Market Outlook: Consumer Price Index (CPI), Industrial Production Production and Empire State Manufacturing Survey will be released in the US on Friday.