Post Session-Sensex ends lower on growth fears Analysis for Dec 15, 2014

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The key domestic benchmarks closed in the red on Monday as the Sensex shed over 30 points led by losses in realty and consumer durables" stocks tracking a mostly weak trend in Asian stocks as plunging oil prices signaled weakness in the global economy. However, Shanghai Composite ended higher on hopes of further stimulus, while Hang Seng fell and Japan"s Nikkei 225 tumbled as Japanese manufacturing sentiment worsened in Q4 even as Prime Minister Shinzo Abe"s ruling party won more than two-thirds of the seats in a lower house election.

Back home, investors weighed dismal IIP data which showed that India"s manufacturing fell into sharp contraction, dashing hopes of a near-term revival in Asia"s third biggest economy. Industrial output contracted by a massive 4.2 per cent in October 2014 from the same month a year ago, compared to an annual 2.5 per cent rise expected by analysts. However, consumer inflation fell to a record low 4.38 per cent in November 2014 and wholesale inflation eased to 0 per cent, raising bets of an interest rate cut by the RBI early next year.

TCS shed nearly 4 per cent after the company signaled a cautious outlook for December quarter growth.

The BSE SENSEX closed at 27,319.56, down by 31.12 points or by 0.11 per cent and the NSE Nifty ended at 8,219.6, down by 4.5 points or by 0.05 per cent.

The BSE Sensex touched intraday high of 27,392.18 and intraday low of 27,105.04. The NSE Nifty touched intraday high of 8,242.4 and intraday low of 8,152.5. Meanwhile, the BSE MIDCAP closed at 10,062.58, down by 46.02 points or by 0.46 per cent, while the BSE SMLCAP ended at 10,997.91, down by 70.57 points or by 0.64 per cent.

On the Sectoral front, realty and consumer durable shed 2.07 per cent and 2.02 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3169, shares advanced were 1250 while 1794 shares declined and 125 were unchanged.

The top losers of the BSE Sensex pack were Tata Consultancy Services Ltd. (Rs. 2362.80,-3.78%), Sesa Sterlite Ltd. (Rs. 210.40,-2.39%), Axis Bank Ltd. (Rs. 476.85,-1.30%), Cipla Ltd. (Rs. 631.70,-1.27%), Tata Motors Ltd. (Rs. 493.80,-1.24%), among others.

Story first published: Monday, December 15, 2014, 17:12 [IST]
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