Sensex closes 244 points down on weak European market

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Sensex closes 244 points down on weak European market
On negative sentiments from Europe share market dragged its Indian peer also. The BSE Sensex closed 1.46% down at 16,698. Meanwhile Nifty fell by 72.20 points, signifying a loss of 1.44% to 4,943 level.

Only the Consumer Durable sectoral indices managed to stay in the positive, all other sectoral indices fell. The worst performing sectoral index was Metal, as it fell over 2.68%. The other sectoral index that fell more than 2% was Realty.

Bankex, Auro, Power, FMCG, Capital Goods and Information Technology fell between 1-2%. And TECk, Oil & gas and Health Care fell between 0.50%-1%.

Among the 50 stocks that make the Nifty, 8 stocks advanced and 42 stocks declined.

The company which lost the most among the Nifty constituents was Reliance Capital, as it fell by 13.17%. This was followed by Reliance Communication with losses of 7.99%.

However, Bharti Airtel, Sesa Goa and Ranbaxy Labs rallied 2.5-4%.

European markets like France's CAC and Britain's FTSE were down 1% each. Germany's DAX fell 2%. The Dow Jones futures shed 80 points.

4:20 p.m.

Weak European opening drags Sensex down by 0.98%

The weak opening of the European market pushed the Nifty down by 58.15 points or 1.16%. Meanwhile, BSE Sensex fell by 163 points or 0.98% to 16,534.13. 

European stock markets like French CAC, the German DAX and British FTSE were down more than 1% in the early trade. This was despite the approval of EFSF expansion by German parliament. The investors' sentiment is still negative on the entire European scenario since implementation of this rescue will be the key. European Union, IMF and Athens will meet for next aid tranche.

The broader index too slipped to the negative side. On the Sectoral front. Only Consumer Durables was in the positve terrain with 1% gain. Meanwhile the worst performing sectoral index was Metal as it fell by 1.72% followed by Realty that fell by 1.70%.

Reliance Communications, Reliance Capital and Reliance Infrastructure crashed 6.5-9.5%. Reliance Power lost over 4%.
L&T and Reliance Industries too slipped from day's high - both were trading flat.

The stock that went up was Sesa Goa shot up 3.5% post the Cabinet approval for the new mining bill today. Bharti Airtel and Ranbaxy Labs rallied nearly 3%.

1:45 p.m.

Stock markets range bound, Sensex down by 0.18%

Indian Equity markets continued to be range bound. They were trading positive for some time but profit booking brought it down. 

The Sensex was trading at 16,668 with loss of 29.96 points or 0.18%. Meanwhile the Nifty was down by 10.70 points or 0.21%, trading at 5,004.75; above the psychological mark of 5k.

Among the sectoral indices, it was the Consumer Durables with capital Goods, Health Care and TECk that were in the positive terrain. Meanwhile, the sectoral indices that were at the bottom of the performance table were Realty, Power, Bankex, Auto, IT, Metal and Oil & Gas.

Among the Nifty stocks, 16 stocks advanced and 34 declined. The best performing stock was SesaGoa, Ranbaxy and Bharti Airtel as they gained more than 3%. Meanwhile Ambuja Cemetn was up by 1.97% and Reliance had increased 1.44%. 

The worst performign stock of the 50 stocks were Reliance Capital, Reliance Infrastructure, Reliance Power and Siemens.

Most active stock on the NSE was JP Associates.

12:15 p.m.

Nifty below 5k on weak Asian peers and high government borrowing

With weak Aisan markets and news of higher borrowings by the government has sent the NSE Benchmark, Nifty, below 5k. Nifty is trading at 4,969 down by 0.91% or a fall by 45.45 points. Meanwhile, BSE benchmark fell by 126.08 or down by 0.76% where as it is trading at 16,572. 

The boader indices, BSE Midcap and BSE Small cap is trading in the positive domain with gains of 0.40% and 0.31% respectively. 

Among the sectoral indices it was Consumer Durables that led the lead with gains of 1.60%. The only other sectors in the positive domain was Capital goods and Healthcare.

The worst performing sectoral index was BSE Power with losses of 1.19%. This was followed by Bankex and IT with downward movement of 1.13% and 1% respectively.

Among the stocks comprising of Nifty, top losers were from the ADAG of companies on reports that Anil Ambani will be grilled on his role in 2G scam. Reliance Capital fell by 7.66%, followed by Reliance Infra that fell by 5.69%. Meanwhile RCom and Reliance Power fell by 4.51% and 4.32% respectively.

The gainers were led by Sesa Goa that had gained by 2.33% followed by Ambuja Cement, Ranbaxy and Bajaj Auto as it increased between 1-2%.

Most traded stock on the national stock exchange was Reliance Communication.

Asian markets were trading lower. Shanghai was down 0.5% and Hang Seng down 2%. Straits Times and Kospi were down 1%. However, Nikkei rose 0.25%.

10:05 a.m.

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Read more about: bse, sensex, nse, nifty, capital market
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