The Indian markets closed today's trading session
in the red zone. Profit booking was seen in majority of the sectors except HC
which was the only gaining sector in trade today. Lack of support from global
peers led to a lackluster trade. Markets remained under pressure owing to
movements in heavyweights like RIL, L&T, SBI, Sun Pharma, Bharti Airtel,
Jindal Steel. The broader market too ended the trade on a negative note. The
fall in the equities was also in line with global peers as investors remain cautious
about the weak economic growth and September quarter earnings despite strong US
jobs data. At the closing bell, the BSE Midcap index declined 0.44%, while the
BSE Smallcap index was down by 0.16%.
Indian rupee followed the downward trend for second straight
session, falling by 1.05% or 55 paise to 52.40 against the US dollar.
The Sensex closed at 18708.98, down by 229.48 points and the Nifty fell by 70.95 points to settle at 5676 in trade today.
The Sensex closed at 18708.98, down by 229.48 points and the Nifty fell by 70.95 points to settle at 5676 in trade today.
Following are the stocks/sectors which were in news today
·Shares of telecom companies Idea Cellular, Reliance
Communications, Tata Teleservices (Maharashtra) rallied in the weak market
enviroment on reports that the empowered group of ministers (EGoM) recommended
that the one-time spectrum fee beyond 4.4 MHz would be levied on prospective
basis.
·Geometric surged after the company said that Indian equity
investor Rakesh Jhunjhunwala acquired an additional 3.39% stake in the company
via open market transactions. After market hours, the stock closed 4.31%
higher.
·Kingfisher Airlines hit the lower circuit of 5% at Rs12.60 for
the sixth consecutive trading session, after the aviation regulator -
Directorate General of Civil Aviation (DGCA) - issued a show cause notice to
the company asking why its permit should not be cancelled or suspended as it
had failed to "establish a safe, efficient and reliable service".
Market sentiment
The market breadth stood in favor of declines. Of the 3013 stocks traded on the BSE, 1383 (45.90%) rose, 1515 (50.28%) fell and 115 (3.82%) stocks remain unchanged.
The market breadth stood in favor of declines. Of the 3013 stocks traded on the BSE, 1383 (45.90%) rose, 1515 (50.28%) fell and 115 (3.82%) stocks remain unchanged.
Global signals
Asian stock markets declined on Monday despite the better-than-expected U.S. jobs data as concerns over the global economic growth and corporate earnings outlook weighed on the sentiment. Japanese markets remained closed for holiday.
European stocks, oil and gold fell on Monday as concerns over the global economic outlook and its impact on the coming corporate earnings season weighed on investor sentiment.
US Stock index futures pointed towards a lower opening at the Wall Street on Monday, with futures for the S&P 500 down by 0.43%, Dow Jones futures down by 0.34% and Nasdaq 100 futures down by 0.47%
Asian stock markets declined on Monday despite the better-than-expected U.S. jobs data as concerns over the global economic growth and corporate earnings outlook weighed on the sentiment. Japanese markets remained closed for holiday.
European stocks, oil and gold fell on Monday as concerns over the global economic outlook and its impact on the coming corporate earnings season weighed on investor sentiment.
US Stock index futures pointed towards a lower opening at the Wall Street on Monday, with futures for the S&P 500 down by 0.43%, Dow Jones futures down by 0.34% and Nasdaq 100 futures down by 0.47%
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