Europe crisis seems to go longer, did not allow Nifty to take rest today. It closed downside amidst global drift. On the back of huge selling pressure, sixth time back to back, 50 stock benchmark index ‘S&P CNX NIFTY-50' on wrap of trading day, plunged 96pts, breached 5000 psychological strong support level, surged, closed at 4934ps, left no scope to mourn except to weep.
NIFTY is confronting from two sides, outside and of course internal. From internal end, corporate earnings season failed to provide any cheer to investor, rising food inflation, declining GDP, weak outlook of the economy as a whole and the Moody mania dragged it; External side, mammoth debt crisis of Europe and fear of spreading Europe crises to US bank send negative sentiment across investor. Now market is following global footprint of financial market.
Start with the major index, U.S. market slammed after Fitch Rating for U.S. banks. The NASDAQ Composite Index shed 46.59 points, 1.7% to 2,639.61 levels. The S&P 500 Index declined 20.89 points, 1.66% to 1,236.92 levels. And the Dow Jones Industrial Average lost 190.57 points, 1.56% to 11,905.59 Levels.
European major national benchmarks indices closed flat on Wednesday after a choppy trading session and as the Bank of England warned that the global growth outlook has worsened since August due to the euro-zone debt crisis. The FTSE 100 index fell 8 points or 0.15% to 5,509.02 points. CAC-40Â rose 16 points 0.52% to 3,064.90 points, while DAX 30Â fell 20 points 0.33% to 5,913.36 points.
On Thursday till 3.46 PM IST, European index were traded downward. STOXX 50 was down by 1.08%. FTSE 100 was traded 1.30% down and DAX was at 50 pts below from the previous level.
The same choppiness trend saw in Asian market. HANG SENG shed by 143pts, Nikkei was up by 16pts, and TOPIXX and TAIWAN WEIGHTED were closed at the same level up with minor change.
Back to home, sector wise description, ENERGY sector was the biggest loser, down by 3.25%, Reality sector closed downside by 2.59%, Metal lost shine by 62pts, 2.17% down, Auto sector declined by 1.81%, Infra closed down by 48pts, it closed down by 46pts, FMCG lost the ground, closed 153pts below, 1.44% down. Media closed below by 1.07%, PSUBANK decline value, closed 1.41% down Service sector lost 80pts.
Scrip wise, RINFRA was the biggest gainer, traded at Rs 417.50, 1.14% up. HEROMOTOCO closed by .94% up, SUNPHARMA, CIPLA, TCS closed up with minor gain. Losers included JPASSOCIATE drifted by 6.43%, RANBAXY closed down by 5.29%; RIL closed downside, shed 4.85%, after the dividend declaration; BHEL lost 4.59%; PPOWER declined 4.43%; RCOM downed 4.23%, MARUTI lost the worth by 4.68% after dividend announcement.
From NIFTY; SUZLON, RENUKA, UNITECH, TATAMOTORS, TATASTEEL, KFA, RIL, SBIN, ICICIBANK, INFY were the most active securities.
MIDCAP, shed 1.74%pts followed the NIFTY trend, declined by 1.52% closed at 9313pts. MPHASIS gained 4.26%, UNPHOS up by 1.37%, TATACHEM gained 0.67%; COLPAL, BANKINDIA, YESBANK, GLAXO closed up with small change. Loser from junior segment included ADANIENT down 7.38%; GLENMARK declined 5.62%; CANBK down by 5%; IDBI, UNIONBANK depreciated 4.91% and 4.08%; TITAN closed down today lost 3.92%.
NIFTY SMALLCAP plummeted 1.64%, 52pts from the previous figure. CNX NIFTY JUNIOR shed 143pts, closed 1.52% below.
Global outlook is weak, Indian economy is under huge pressure make sense to wait for enter into the market.
NIFTY is confronting from two sides, outside and of course internal. From internal end, corporate earnings season failed to provide any cheer to investor, rising food inflation, declining GDP, weak outlook of the economy as a whole and the Moody mania dragged it; External side, mammoth debt crisis of Europe and fear of spreading Europe crises to US bank send negative sentiment across investor. Now market is following global footprint of financial market.
Start with the major index, U.S. market slammed after Fitch Rating for U.S. banks. The NASDAQ Composite Index shed 46.59 points, 1.7% to 2,639.61 levels. The S&P 500 Index declined 20.89 points, 1.66% to 1,236.92 levels. And the Dow Jones Industrial Average lost 190.57 points, 1.56% to 11,905.59 Levels.
European major national benchmarks indices closed flat on Wednesday after a choppy trading session and as the Bank of England warned that the global growth outlook has worsened since August due to the euro-zone debt crisis. The FTSE 100 index fell 8 points or 0.15% to 5,509.02 points. CAC-40Â rose 16 points 0.52% to 3,064.90 points, while DAX 30Â fell 20 points 0.33% to 5,913.36 points.
On Thursday till 3.46 PM IST, European index were traded downward. STOXX 50 was down by 1.08%. FTSE 100 was traded 1.30% down and DAX was at 50 pts below from the previous level.
The same choppiness trend saw in Asian market. HANG SENG shed by 143pts, Nikkei was up by 16pts, and TOPIXX and TAIWAN WEIGHTED were closed at the same level up with minor change.
Back to home, sector wise description, ENERGY sector was the biggest loser, down by 3.25%, Reality sector closed downside by 2.59%, Metal lost shine by 62pts, 2.17% down, Auto sector declined by 1.81%, Infra closed down by 48pts, it closed down by 46pts, FMCG lost the ground, closed 153pts below, 1.44% down. Media closed below by 1.07%, PSUBANK decline value, closed 1.41% down Service sector lost 80pts.
Scrip wise, RINFRA was the biggest gainer, traded at Rs 417.50, 1.14% up. HEROMOTOCO closed by .94% up, SUNPHARMA, CIPLA, TCS closed up with minor gain. Losers included JPASSOCIATE drifted by 6.43%, RANBAXY closed down by 5.29%; RIL closed downside, shed 4.85%, after the dividend declaration; BHEL lost 4.59%; PPOWER declined 4.43%; RCOM downed 4.23%, MARUTI lost the worth by 4.68% after dividend announcement.
From NIFTY; SUZLON, RENUKA, UNITECH, TATAMOTORS, TATASTEEL, KFA, RIL, SBIN, ICICIBANK, INFY were the most active securities.
MIDCAP, shed 1.74%pts followed the NIFTY trend, declined by 1.52% closed at 9313pts. MPHASIS gained 4.26%, UNPHOS up by 1.37%, TATACHEM gained 0.67%; COLPAL, BANKINDIA, YESBANK, GLAXO closed up with small change. Loser from junior segment included ADANIENT down 7.38%; GLENMARK declined 5.62%; CANBK down by 5%; IDBI, UNIONBANK depreciated 4.91% and 4.08%; TITAN closed down today lost 3.92%.
NIFTY SMALLCAP plummeted 1.64%, 52pts from the previous figure. CNX NIFTY JUNIOR shed 143pts, closed 1.52% below.
Global outlook is weak, Indian economy is under huge pressure make sense to wait for enter into the market.