The key domestic benchmarks snapped a two-day rally as weak cues from the European markets and profit booking ahead of the expiry of February derivative contracts weighed heavily. The Realty and Consumer Durable space led the decline.
BSE SENSEX closed at 18145.25 down by 283.36 points or by 1.54 % and then NSE Nifty ended at 5505.35 down by 101.8 points or by 1.82 %. The BSE MIDCAP closed at 6375.69 down by 228.65 points or by 3.46 %, while the BSE SMLCAP ended at 6969.06 down by 233.06 points or by 3.24 %. The BSE Sensex touched intraday high of 18523.78 and intraday low of 18095.81 The NSE Nifty touched intraday high of 5629.95 and intraday low of 5491.35.
The positive closing of most of the US stock markets on Tuesday lifted domestic sentiment during morning trade. On Tuesday, the Dow Jones Industrial gained 15.82 points and closed at 12965.69 and the S&P 500 gained 0.98 points and closed at 1362.21. Tracking positive cues from the US markets, the domestic benchmarks witnessed a gap up opening. However, profit booking across banking stocks dragged down the domestic benchmarks into negative terrain. The benchmarks continued to trade in the negative terrain amid mixed cues from the Asian markets. Asian markets traded mixed on Thursday amid concerns that the second bailout aid for Greece may not prevent a Greek default and contain the debt crises. Moreover, a fourth straight decline in China's manufacturing activity in February 2012 signaled a deeper economic slowdown in Asia's largest economy. However, most Asian stocks erased earlier losses ahead of the US housing data which may signal a pickup in the nation's economic recovery, boosting the outlook for Asian exporters. The domestic benchmarks saw a steep decline and plunged to the day's low in the final couple of hours of trade amid weak cues from European markets. European markets fell on Thursday after Eurozone manufacturing and services activity slipped back into contraction in February 2012. Finally, the domestic benchmarks ended on a weak note, with the Sensex and Nifty shedding over 1.50% each. Among the BSE Sectoral indices, BSE Realty and BSE Consumer Durables ended down 6.77% and 4.93% respectively.
Among the 30 Sensex stocks, SBI, DLF, Sterlite Industries, Jindal Steel & Power and Hindalco Industries lost 7.91%, 7.69%, 6.62%, 4.82% and 4.73% respectively. Among the Sensex stocks, there were 6 advances and 24 declines. On BSE out of total shares traded 3147, shares advanced were 787 while 2254 shares declined and 106 were unchanged.
On the Economic front, the Prime Minister's Economic Advisory Council projected that India's economy will grow at 7.1 per cent in 2011-12, up from the 6.9 per cent rate estimated by the Central Statistical Organization.
On the Global front, private sector output of the 17-member Eurozone economy slipped back into contraction in February 2012 as manufacturing and service sector activity shrank amid the lingering debt turmoil, said a report by Markit Economics on Thursday. The preliminary Eurozone Composite Output Index, a gauge of manufacturing and service sector activity, fell to 49.7 in February 2012 from 50.4 in January 2012.
On the Asian front, Shanghai Composite ended up 0.93%, Hang Seng closed up 0.33% and Nikkei 225 ended up 0.96% on Thursday.
On the European front, CAC 40 was down 0.38%, DAX was down 0.79% and FTSE 100 was trading lower by 0.37% on Thursday.
On the Corporate front, the stock of SBI shed 7.91% at Rs 2,257.80 on the BSE after some reports stated that bank has agreed to throw Rs 1,700 crore lifeline for Kingfisher Airlines.
Dion Global Solutions Ltd
BSE SENSEX closed at 18145.25 down by 283.36 points or by 1.54 % and then NSE Nifty ended at 5505.35 down by 101.8 points or by 1.82 %. The BSE MIDCAP closed at 6375.69 down by 228.65 points or by 3.46 %, while the BSE SMLCAP ended at 6969.06 down by 233.06 points or by 3.24 %. The BSE Sensex touched intraday high of 18523.78 and intraday low of 18095.81 The NSE Nifty touched intraday high of 5629.95 and intraday low of 5491.35.
The positive closing of most of the US stock markets on Tuesday lifted domestic sentiment during morning trade. On Tuesday, the Dow Jones Industrial gained 15.82 points and closed at 12965.69 and the S&P 500 gained 0.98 points and closed at 1362.21. Tracking positive cues from the US markets, the domestic benchmarks witnessed a gap up opening. However, profit booking across banking stocks dragged down the domestic benchmarks into negative terrain. The benchmarks continued to trade in the negative terrain amid mixed cues from the Asian markets. Asian markets traded mixed on Thursday amid concerns that the second bailout aid for Greece may not prevent a Greek default and contain the debt crises. Moreover, a fourth straight decline in China's manufacturing activity in February 2012 signaled a deeper economic slowdown in Asia's largest economy. However, most Asian stocks erased earlier losses ahead of the US housing data which may signal a pickup in the nation's economic recovery, boosting the outlook for Asian exporters. The domestic benchmarks saw a steep decline and plunged to the day's low in the final couple of hours of trade amid weak cues from European markets. European markets fell on Thursday after Eurozone manufacturing and services activity slipped back into contraction in February 2012. Finally, the domestic benchmarks ended on a weak note, with the Sensex and Nifty shedding over 1.50% each. Among the BSE Sectoral indices, BSE Realty and BSE Consumer Durables ended down 6.77% and 4.93% respectively.
Among the 30 Sensex stocks, SBI, DLF, Sterlite Industries, Jindal Steel & Power and Hindalco Industries lost 7.91%, 7.69%, 6.62%, 4.82% and 4.73% respectively. Among the Sensex stocks, there were 6 advances and 24 declines. On BSE out of total shares traded 3147, shares advanced were 787 while 2254 shares declined and 106 were unchanged.
On the Economic front, the Prime Minister's Economic Advisory Council projected that India's economy will grow at 7.1 per cent in 2011-12, up from the 6.9 per cent rate estimated by the Central Statistical Organization.
On the Global front, private sector output of the 17-member Eurozone economy slipped back into contraction in February 2012 as manufacturing and service sector activity shrank amid the lingering debt turmoil, said a report by Markit Economics on Thursday. The preliminary Eurozone Composite Output Index, a gauge of manufacturing and service sector activity, fell to 49.7 in February 2012 from 50.4 in January 2012.
On the Asian front, Shanghai Composite ended up 0.93%, Hang Seng closed up 0.33% and Nikkei 225 ended up 0.96% on Thursday.
On the European front, CAC 40 was down 0.38%, DAX was down 0.79% and FTSE 100 was trading lower by 0.37% on Thursday.
On the Corporate front, the stock of SBI shed 7.91% at Rs 2,257.80 on the BSE after some reports stated that bank has agreed to throw Rs 1,700 crore lifeline for Kingfisher Airlines.
Dion Global Solutions Ltd
