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Post-market: Weak Global cues drag Sensex 129 points lower
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Wednesday, July 11, 2012 |
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| July 11, 2012 | 5:30 PM | Weak Global cues drag Sensex 129 points lower The markets were under pressure throughout the day on account of weak global cues. The Sensex ended 129 points lower and the Nifty fell 39 points. | | | | | | Major headlines | | Indian indices After yesterday's rally, Indian markets closed today's trading session in the red zone. Profit booking was seen in majority of the sectors except capital goods, which was the only gaining sector. Lack of support from global peers led to a lacklustre trade. Markets remained under pressure owing to movements in heavyweights like RIL, ITC, Tata Motors, Bharti Airtel, ICICI Bank, Wipro and HDFC. The broader market too ended trade on a negative note. At the closing bell, the BSE Midcap index declined 0.12%, while the BSE Smallcap index was down by 0.24%. Movement of the Indian indices for the day: After yesterday's gaining trend, the key benchmark indices closed today's trading session in the negative terrain. The markets remained under pressure throughout the day as the global peers were unsupportive. | | INDEX PERFORMANCE |  | | | | | MARKET INDICATORS |  | | | | | | Jaypee Infratech | 59.05 | 3.60 | | Motherson Sumi | 170.15 | 3.09 | | Financial Technologies | 776.35 | 3.05 | | | Syndicate Bank | 105.80 | -4.21 | | | | | | | | | | | | | | | | | | | | | | | Market Outlook: Data to be released in the US on Wednesday: International Trade, FOMC Minutes, EIA Petroleum Status Report. | The Indian markets started today's trade on a negative note and fell sharply during the afternoon session, following the losses in Asian markets and tracking the weakness all across the European markets. The BSE Sensex and the NSE Nifty dipped nearly 1% each. The broader indices were also in red, heading towards a weak market breadth. Profit booking led the markets to close the session lower in trade today. All-round selling across the board also led the equities to trade with heavy losses. All the sectors closed in the red zone in today's trading session barring capital goods. Investor sentiments in the domestic market were also cautious in trade today ahead of Thursday's important session. Results from IT giants TCS and Infosys will be eyed alongwith the latest IIP data, which will be announced tomorrow. Further ascent will come from positive movement on the policy front post the presidential elections. The Sensex closed at 17489.14, down by 129.21 points and the Nifty fell 39.05 points to close at 5306.30 in trade today. Following are the stocks/sectors which were in news today: - The country's largest software service exporters Infosys and TCS rose nearly 1% in the morning trade and later closed flat ahead of their results for the first quarter of financial year 2012-13. Infosys closed higher by 0.29% while TCS was down by 0.21% in trade today.
- MCX India gained 7.70% and Financial Technologies rose by 9.49% after MCX-SX has received the approval from SEBI to start equity trading platform. At end of the day the MCX stock witnessed a rebound trade and closed 2.45% lower While Financial Technologies gained 3.05% in today's trade.
- Jaypee Infratech surged today on reports that company's Yamuna Expressway is set to open on July 17. The stock closed 3.60% higher in trade today.
- Cummins India plunged due to disappointing results by parent company. Cummins Inc, a diesel and natural gas engine manufacturer, expects to report full year revenue in line with 2011 results as against 10% earlier. The stock closed 2.83% lower.
- Among Oil & Gas shares index heavyweights Reliance Industries closed 1.87% lower after the Oil Ministry decided to cancel the permit issued to billionaire Mukesh Ambani's privately owned RGTIL to lay four natural gas pipelines saying there were inordinate delays in construction of the 2,175-km lines.
- FMCG shares were down on concerns that lower agri output in the wake on deficient rainfall would lead to higher input costs. ITC closed 1.7% lower at Rs254 while Hindustan Unilever slipped 1.1% to close at Rs441.
Market sentiment The market breadth stood in favor of declines. Of the 2940 stocks traded on the BSE, 1211 (41.19%) rose, 1617 (55.00%) fell and 112 (3.81%) stocks remained unchanged. | Sectoral & stock screening Among the 13 sectoral indices twelve sectors closed in red zone and only one sector closed in green zone. Gainer: BSE CG up by 0.37%. Top Losers: BSE Auto fell by 1.18%, BSE FMCG slipped by 1.14%, BSE Realty dropped by 1.06%, BSE Metal fell by 1.05%. Among 'A' group stocks, top three gainers were- JP Infratech advanced by 3.60%, Motherson Sumi rose by 3.09%, Financial Tech gained by 3.05%. Top three losers were- Syndicate Bank drooled by 4.21%, NMDC fell by 3.47%, and National Aluminium declined by 3.19%. |  | | | | | Global signals Asian markets witnessed mixed trade today. Japan's Nikkei share average eased to a two-week low on Wednesday, crucially holding just above its 25-day moving average where as Hang Seng somehow managed to touch the green border with marginal gain of 0.12%. European shares fell on Wednesday, led by luxury goods companies as a slowdown in sales growth at British group Burberry affected the sector and highlighted the weak macroeconomic environment. US stock index futures pointed towards a lower opening at the Wall Street on Wednesday. | | | | Commodity Hit List for 11-7-2012 - Evening session | | Support Levels | LTP | Resistance Levels | Action | S2 | S1 | R1 | R2 | Gold Cash USD ($) | 1564.0 | 1571.0 | 1577.0 | 1583.0 | 1587.0 | Sell below S1 | Gold MCX Aug | 28850.0 | 29200.0 | 29293.0 | 29400.0 | 29460.0 | Sell below S1 | Silver Cash USD ($) | 26.7 | 27.0 | 27.1 | 27.2 | 27.2 | Sell below S1 | Silver MCX Sept | 52000.0 | 52456.0 | 52660.0 | 52786.0 | 52900.0 | Sell below S1 | Copper MCX Aug | 412.0 | 417.5 | 419.3 | 420.7 | 422.2 | Sell below S1 | Zinc MCX July | 101.4 | 102.2 | 102.6 | 102.9 | 103.1 | Sell below S1 | Nickel MCX July | 884.0 | 895.0 | 900.3 | 904.0 | 914.2 | Sell below S1 | Aluminium MCX July | 104.0 | 105.0 | 105.4 | 105.7 | 105.8 | Sell below S1 | Lead MCX July | 102.3 | 103.6 | 104.0 | 104.3 | 104.7 | Sell below S1 | Crude Oil USD ($) | 83.7 | 84.4 | 84.9 | 85.3 | 85.6 | Sell below S1 | Crude Oil MCX July | 4663.0 | 4692.0 | 4713.0 | 4744.0 | 4764.0 | Sell below S1 | Natural Gas MCX July | 147.0 | 152.0 | 153.0 | 155.0 | 157.0 | Buy Above R1/Sell below S1 | | | | | Visit www.sharekhan.com to manage your newsletter subscriptions | | | | | |
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