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Post-market: Markets end volatile session lower
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Tuesday, September 13, 2011 |
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| September 13, 2011 | 5:30 PM | Markets end volatile session lower The Indian markets erased early gains and closed the trade on a lower note. The Sensex fell 34 points and the Nifty slid by 6 points | | | | | | Major headlines | | Indian indices The Indian markets took an ugly turn in the second half of trade after the European stocks fell and also due to profit booking at higher level. A spike in Greek borrowing costs on escalating worries that the nation will default on its debts disturbed the sentiments. Losses in auto, pharma, banking and consumer durables shares dragged the markets. Sensex movements: The Sensex opened the trade 116 points higher at 16618 and remained higher in the first half of trade to hit the day's high of 16766 in late morning session. However, the index slipped in the afternoon session to hit the day's low of 16375 on euro zone worries and pressure from auto, banking, consumer durables, pharma shares. The Sensex fell 34 points to settle at 16467 and the Nifty stood at 4941, down by 6 points Market sentiment The market breadth stood neutral, with 1397 shares (47.71%) rising, 1395 (47.64%) shares declining and 136 (4.64%) remained unchanged. | | INDEX PERFORMANCE |  | | | | | MARKET INDICATORS |  | | | | | | | Shree Cement | 1,660.00 | 5.32 | | SKS Microfinance | 285.35 | 4.83 | | | | Zee Entertainment | 133.60 | -3.93 | | United Breweries | 395.20 | -3.56 | | | | | | | | | | | | | | | | | | | | | Market Outlook: In the US, Import & Export Prices and Treasury Budget will be out on Tuesday. | Viewing volumes Indian shipbuilder Pipavav Shipyard was traded the most with over 0.55 crore shares changing hands on the BSE. Then comes India's second largest developer - Unitech (0.32 crore shares), wind turbine major - Suzlon Energy (0.32 crore shares), India's largest automobile company - Tata Motors (0.29 crore shares) and industrial finance company - IFCI (0.27 crore shares). | Sectoral & stock screening Seven sectors closed lower, while six rose. Gainers - BSE IT stood the top gainer, rose by 0.93% followed by BSE TECk up by 0.40% and BSE Oil & Gas gained by 0.37%. Losers - BSE Auto declined by 0.67%, followed by BSE HC down by 0.54%, BSE CD fell by 0.49% and BSE Bankex slipped by 0.44%. In 'A' group stocks, major gainers - Cairn India surged by 5.75%, Shree Cement rose by 5.32% and SKS Microfinance advanced by 4.83%. Major losers - Tata Motors declined by 4.61%, Zee Entertainment Enterprises down by 3.93% and United Breweries fell by 3.56%. |  | | | | | Global signals The European shares fell on Tuesday as investors worried that policymakers had no plan to stem the euro zone debt crisis, which could see Greece default. The Asian markets were mixed on Tuesday as optimism over reports that China was in talks to buy huge amounts of Italian bonds were tempered by ongoing concerns about the wider euro zone debt crisis. The US stock futures pointed to a weaker open for equities on the Wall Street on Tuesday. | | | | Visit www.sharekhan.com to manage your newsletter subscriptions | | | | | | To know more about our products and services, click here. | | | | | | | Sharekhan Ltd. Regd Add: 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai - 400 042, Maharashtra. Tel: 022 - 61150000. 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