The investors around the globe were worried, as no solution came up at the end of the European Union finance ministers meeting ended. Moreover, at the weekend's meeting and the finance ministers even rejected Tim Geithner"s plan to place tax on financial transactions.
The biggest gainer among the Nifty stocks was JP Associates which was up by 3.22%. This was followed by Maruti and GAIL, these two stocks 2.75% and 2.34%.
Reliance Infrastructure and Sterlite Industries fell by more than 4% among the Nifty stocks. Meanwhile, Larsen & Toubro fell by 3%.
On the sectoral front the indices followed the afternoon pattern, where in the sectoral index Consumer Durables and Auto were in the positive with gains of 0.75% and 0.34% respectively. however the biggest loser were the Capital Goods and Bankex with losses of 2.19% and 1.17% respectively. Other sectoral indices that lost more than 1% were Power and Metal.
Asian peers ended in the red. Hang Seng closed down 2.76% and Shanghai dropped 1.8%. Kospi, Straits Times and Taiwan were down over 1%.
Among the stocks, ONGC witnessed profit booking as the share rallied significantly on Friday; the stock lost 2%. Reliance Industries declined 0.5%. From the metal space, Sterlite Industries tumbled 3.6%. SAIL and Tata Steel slipped 1.5%. However, Maruti rallied nearly 3% on news that the Volkswagen may launch hostile takeover of Suzuki. GAIL and Jaiprakash Associates jumped over 2%. Wipro, Bharti, HDFC Bank, ACC and M&M were other gainers.
Market reports further losses. Nifty falls 1.04%
The stock market fell on weak global cues to 16,756 points reflecting a fall of 1.04% or 176 points. Meanwhile NSE Nifty was trading at 5,028.85 points reflecting a loss of 55.40 points or 1.09%.
Among the 50 Stocks that comprise Nifty, the NSE benchmark, JP Associate gained the most 2.12%. The next best performing stock was GAil with gains of 1.88%.
The biggest loser among the Nifty stocks was Reliance Infrastructure (-4.04%), Sterlite Industries (-3.04%).
Meanwhile, it was Unitech and GVK Power and infrastructure (GVKPIL) that were the most traded stock. GVKPIL was sought after on account of the assets it is about to buy in Australia.
GAIL was the biggest gainer; gained 2.3%. Wipro, ACC, Hero Motocorp, M&M, Jaiprakash Associates, Tata Power and Ambuja Cements were other major gainers.
In the midcap space, Alfa Laval shot up 19% as the company will consider delisting today. Sun Pharma Advanced, NCC, Honeywell Automation and BASF gained 3-6%. However, KGN Industries, Shree Global, Dish TV India, IVRCL and Coromandel International lost 3-5%.
The markets continued to suffer. Sensex falls 0.87%
The two major indices suffered more losses as a except two sectors all had reported a fall. Sensex was trading at 16,750.49 with loss of 183.34 and 1.08%. Meanwhile on the Nifty the loss was of 44.15 or 0.87% to 5,040.
Among the sectoral indices all were in reeling under loss except Consumer Durables (+0.34%) and Realty (+0.06%) and worst hit sectors were Capital Goods with loss of 1.58% and Bankex with loss of 1.23%. The other sector that had loss of more than 1% was Metal.
Meanwhile, ONGC too slipped into the red on the back profit booking (down nearly 1%).
Asian markets also saw more losses as Hang Seng was down 1.5% and Shanghai fell 2.5%. Straits Times, Kospi and Taiwan were down around 1%. On the home turf, the Indian rupee depreciated to 47.75 per dollar, down 0.43.
Reliance Infrastructure, L&T, DLF, Sterlite Industries, ICICI Bank and Cipla were top losers among largecaps; these stocks fell between 2% and 3%.
However, GAIL, Ranbaxy Labs, IDFC, ACC, Wipro, Bharti Airtel, Maruti Suzuki and Tata Motors gained 0.5-1.8%.
About 678 shares advanced as against 652 shares declined on National Stock Exchange.
Markets open weak Asian Cues. Sensex down by 93 points
The Indian indices opened weak on Asian cues, the benchmark of the Bombay Stock Exchange, Sensex fell 93.82 points or 0.55% to 16,840.01 level. Meanwhile, National Stock Exchange Benchmark, Nifty fell 0.67% or 34.25 points to 5050 level.
On the sectoral front on BSE, Auto was the best performer with returns of 0.55%. This was followed by 0.53% by consumer durables. The worst performing stocks were the Realty as it fell 1.04%. This was closely followed by BSE Bankex that fell by 1.03%.
Among the Sensex listed stocks. ONGC was the best performing stock with gains of 0.98% followed closely by Tata Motors 0.96%. On the loss side, DLF lost the most with 2.48% along with Sterlite Industries that fell 2.04%.
Sesa Goa, Axis Bank, IDFC, HDFC, SBI, DLF, Siemens, L&T and Reliance Infrastructure were under selling pressure.
However, Sun Pharma, ONGC and BPCL were gainers in early trade.
The CNX Midcap rose 32 points to 7,314. About 360 shares advanced as against 549 shares declined on National Stock Exchange.
Alfa Laval rallied 16% as company is going to discuss delisting of shares.
GVK Power shot up 6% as GVK group acquired Hancock Coal & Infra in Australia.
Everonn Education was locked at 5% upper circuit. Jet Airways rose 2% as company will hike fuel surcharge by Rs 200 per domestic sector.