Sensex trading flat, Europe opens negative
By Shrikant Akolkar |
2/3/2012 1:39 PM FridayIndian markets have continued trading flat today, remaining subdued since morning. Both the indices are currently trading at yesterday's closing value, indicating that the week may not end on a positive note.
Other Asian markets also remained flat today. While the Hang Seng and Nikkei ended in the negative, Shanghai was seen marginally up.
Meanwhile, the European markets have also opened in the red. All 3 key indices are down by over 0.1% at this time of the day.
| Benchmark Indices |
| Index | Rate | % Change |
| FTSE | 5,790.55 | -0.10 |
| CAC | 3,369.15 | -0.22 |
| DAX | 6,649.14 | -0.10 |
| Hang Seng | 20,711.33 | -0.14 |
| Nikkei | 8,831.93 | -0.51 |
| Shanghai | 2,330.40 | 0.77 |
| Sensex | 17,425.95 | -0.03 |
| Nifty | 5,270.40 | 0.01 |
Among the sectoral indices, the interest rate-sensitive Realty index has gained 1.43% so far. HC, FMCG and CD are seen gaining marginally after yesterday’s dismal performance. Metals, Oil & Gas, Bankex and CG on the other hand have lost from their respective values yesterday.
17 of the 30 Sensex stocks are trading in positives. Bharti Airtel is holding its two days' gains, and is up by 2.63%. Coal India has finally turned up as gainer after many sessions of losses, and is also up by 1.93%. ONGC is trading flat with a negative bias after the announcement that the govt. is to complete a 5% stake sale in ONGC.
From the ‘A’ group stocks, Bajaj Fin Serv has surged by 9.33%. Neyveli Lignite is also trading up with over 6% gains. JSW Ispat, CESC and Marico have gained by 5% each. Tata Global Beverages has further gained by 4.5%. The company has entered a into a deal with coffee chain Starbucks, and the stock has seen good momentum. Telecom stocks such as Tata Teleservices, Tata Communications, Reliance Communications and MTNL are still seen in pressure.
The market breadth, which indicates the overall health of the market, is mixed. Out of a total of 3124 stocks, 1695 stocks advanced, 1302 stocks declined and 127 stocks remained unchanged.
In our opinion, the markets will remain volatile with a negative bias ahead in the day.
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