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Post-market: Markets close lower in thin trade

Tuesday, July 5, 2011

July 05, 2011 | 5:30 PM

Markets close lower in thin trade
It was a sluggish session for the markets amid thin trading volumes. The Sensex fell 70 points and the Nifty declined 18 points at the close
Major headlines
  • BHEL declines on reports of disinvestment
  • Tata Communications rises as Supreme Court clears part sale of VSNL land
  • Blue Dart to delist at Rs2100 per share
Indian indices
Markets were volatile in today's trade, with no support from global equities. Investors remained on sidelines after the rally last week. Weakness in Reliance Industries, BHEL, ITC, DLF, ICICI Bank led to a major drag on the markets. Trading remained lacklustre as volume was quite low, which meant low participation from retail. 

Sensex movements: The Sensex started the trade 23 points higher at 18838 and also its day's high. Volatility was high, with the index touching the day's low of 18694 in the afternoon session. The Sensex fell 70 points to close at 18745 and the Nifty stood at 5632, down by 18 points.

Market sentiment
The market breadth was in favour of advances. Out of the 2,959 stocks traded on the BSE, 1,497 rose, 1,317 fell and 145 stocks traded unchanged.
 INDEX PERFORMANCE
Index Close % chg
Sensex 18,744.56 -0.37
Nifty

5,632.10

-0.33

 
 MARKET INDICATORS 
Top Movers (Group A)
Company Price (Rs) % chg
Gainers
BF Utilities

769.25

9.17

MOIL

356.75

5.17

Tata Comm

219.05

4.38

Losers
UCO Bank

93.00

-4.96

BHEL

1,953.80

-4.49

Nestle India

4,283.70

-3.42

Market Statistics
s

BSE

NSE

Advances

1,497

872

Declines

1,317

897

Volumes (Rs crore)
Cash (BSE+NSE)

13,550

F&O (NSE)

60,735

Market Outlook: Factory Orders data will be released in the US on Tuesday.

Viewing volumes
Wind turbine major - Suzlon Energy was the most traded, with over 0.38 crore shares changing hands on the BSE, followed by one of the leading integrated steel makers - Ispat Industries (0.26 crore shares), company engaged in infrastructure business - BF Utilities (0.20 crore shares), one of the fastest growing integrated infrastructure enterprises of India - Lanco Infratech (0.19 crore shares) and cement major - Ambuja Cements (0.19 crore shares).
Sectoral & stock screening
Eight sectors fell while rest five managed to rise. Losers - BSE Oil & Gas was the top loser declining by 1.60%, followed by BSE Fast Moving Consumer Goods (FMCG) and BSE Realty fell by 1.29% each. Gainers - BSE Auto was the top gainer rising by 0.88%, followed by BSE Information Technology (IT) up by 0.37% and BSE Bankex gained by 0.33%.

Among 'A' group stocks, top three gainers - BF Utilities surged by 9.17%, MOIL gained by 5.17% and Tata Communications rose by 4.38%. Top three losers - Uco Bank fell by 4.96%, Bharat Heavy Electricals Ltd (BHEL) slid by 4.49% and Nestle India lost by 3.42%.

Global signals
The European markets were mixed on Tuesday, as reports suggesting that a rate hike could happen as early as this weekend in China led to some caution among traders

The Asian markets closed on a mixed note on Tuesday. Nikkei rose by 0.07% and Straits Times fell by 0.75%.

The US stock index futures point to a slightly higher opening on the Wall Street on Tuesday.

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