If Monday was a day of sell-offs, Tuesday turned out to be the day global markets found their feet, even if it turns out to be short-lived. As major Asian markets opened lower on the back of an overnight fall of 636 points in the Dow Jones index, a slow recovery set in.
The Indian market, following its Asian peers, opened sharply lower and in early trades the benchmark BSE sensex was down over 550 points, but soon embarked on a remarkable recovery. By mid-session, the index was trading in positive territory, up nearly 150 points, thus recording a recovery of about 700 points from the day's low. However, uncertainty and volatile trading in the European markets took a toll on trading on Dalal Street and the sensex closed 136 points lower at 16,858, down less than 1% from its previous close.
The day's recovery came despite a Rs 2,100-crore net outflow by foreign funds while domestic institutions clocked a net inflow of about Rs 1,400 crore. Institutional dealers said domestic insurance companies, led by LIC, were big buyers.
The day's slide left investors poorer by Rs 73,000 crore with BSE's market capitalization now at Rs 61.8 lakh crore.
Among the sectors, FMCG and auto stocks closed with smart gains while IT and metal stocks led the pack of laggards. Of the 30 sensex stocks, M&M was the top gainer with a 4.3% rise to Rs 695 while DLF closed 2.5% higher at Rs 201. Among the top losers were Tata Steel, down 4.9% at Rs 486 and Tata Motors, down 4.3% at Rs 796.
For Wednesday, market players said that with the US markets rebounding, there is every chance of a rebound in the domestic market. At 10pm, the Dow Jones index was trading 2% higher, while FTSE in London closed nearly 2% higher and Dax in Germany ended flat. Earlier in the day, Shanghai closed flat, Nikkei in Japan lost 1.7% and Hang Seng in Hong Kong was the worst performer among major markets, closing 5.7% lower.
http://timesofindia.indiatimes.com/business/india-business/Sensex-down-132-points-in-choppy-trades/articleshow/9547026.cms
The Indian market, following its Asian peers, opened sharply lower and in early trades the benchmark BSE sensex was down over 550 points, but soon embarked on a remarkable recovery. By mid-session, the index was trading in positive territory, up nearly 150 points, thus recording a recovery of about 700 points from the day's low. However, uncertainty and volatile trading in the European markets took a toll on trading on Dalal Street and the sensex closed 136 points lower at 16,858, down less than 1% from its previous close.
The day's recovery came despite a Rs 2,100-crore net outflow by foreign funds while domestic institutions clocked a net inflow of about Rs 1,400 crore. Institutional dealers said domestic insurance companies, led by LIC, were big buyers.
The day's slide left investors poorer by Rs 73,000 crore with BSE's market capitalization now at Rs 61.8 lakh crore.
Among the sectors, FMCG and auto stocks closed with smart gains while IT and metal stocks led the pack of laggards. Of the 30 sensex stocks, M&M was the top gainer with a 4.3% rise to Rs 695 while DLF closed 2.5% higher at Rs 201. Among the top losers were Tata Steel, down 4.9% at Rs 486 and Tata Motors, down 4.3% at Rs 796.
For Wednesday, market players said that with the US markets rebounding, there is every chance of a rebound in the domestic market. At 10pm, the Dow Jones index was trading 2% higher, while FTSE in London closed nearly 2% higher and Dax in Germany ended flat. Earlier in the day, Shanghai closed flat, Nikkei in Japan lost 1.7% and Hang Seng in Hong Kong was the worst performer among major markets, closing 5.7% lower.
http://timesofindia.indiatimes.com/business/india-business/Sensex-down-132-points-in-choppy-trades/articleshow/9547026.cms
0 comments:
Post a Comment