Sensex slips in red; oil & gas, realty, pharma stocks down
DATE: 03/09/2012
According to dealers, the market is likely to remain range-bound with negative bias due to high volatility in global markets
MUMBAI: The Sensex pared intraday gains and slipped in the negative terrain on Monday, led by losses in oil & gas, realty, healthcare and metals sectors following weakness in the Japanese market.
According to dealers, the market is likely to remain range-bound with negative bias due to high volatility in global markets.
"On the weekly charts, Nifty shaved off previous three weeks' gains suggesting strong bearish undertone. We enter a period of seasonally high volatility both in the Indian and global markets and thus prefer to be cautious. The upside is capped at 5,345 / 5,370 (61.8% retracement of the recent fall) where fresh selling is likely to emerge having potential to pull Nifty down to 5,200 (intermediate supports) and possibly lower towards 5,000," said an Edelweiss report.
Sensex was at 17,390.27, down 39.29 points or 0.23 per cent. It touched a high of 17,509.99 and a low of 17,381.26 in trade today.
The Nifty was at 5,256.40, down 2.10 points or 0.04 per cent. The broader index touched a high of 5,295.80 and a low of 5,248.35.
Among the sectoral indices, the BSE Oil & gas Index was down 0.85 per cent, the BSE Realty Index declined 0.57 per cent and the BSE Healthcare Index slipped 0.44 per cent. The BSE IT Index was up 0.21 per cent and the BSE Power Index edged 0.18 per cent higher.
Jindal Steel (1.79%), Tata Power (1.46%), ICICI Bank (1.13%), Reliance Industries (1.09%) and Tata Motors (1.07%) were the major Sensex losers.
Bajaj Auto (2.58%), NTPC (1.64%), Cipla (1.47%), Maruti Suzuki (1.18%) and BHEL (0.63%) led the gainers pack.
The market breadth was positive on the BSE with 1,296 gainers against 1,100 losers.
In the Asian markets, The Shanghai Composite was up 0.76 per cent, the Hang Seng moved 0.29 per cent higher and the Kospi moved 0.40 per cent higher. The Nikkei 225 was down 0.63 per cent.
The foreign institutional investors sold equities worth Rs 211.08 crore on Friday, as per provisional data from the NSE.
According to dealers, the market is likely to remain range-bound with negative bias due to high volatility in global markets.
"On the weekly charts, Nifty shaved off previous three weeks' gains suggesting strong bearish undertone. We enter a period of seasonally high volatility both in the Indian and global markets and thus prefer to be cautious. The upside is capped at 5,345 / 5,370 (61.8% retracement of the recent fall) where fresh selling is likely to emerge having potential to pull Nifty down to 5,200 (intermediate supports) and possibly lower towards 5,000," said an Edelweiss report.
Sensex was at 17,390.27, down 39.29 points or 0.23 per cent. It touched a high of 17,509.99 and a low of 17,381.26 in trade today.
The Nifty was at 5,256.40, down 2.10 points or 0.04 per cent. The broader index touched a high of 5,295.80 and a low of 5,248.35.
Among the sectoral indices, the BSE Oil & gas Index was down 0.85 per cent, the BSE Realty Index declined 0.57 per cent and the BSE Healthcare Index slipped 0.44 per cent. The BSE IT Index was up 0.21 per cent and the BSE Power Index edged 0.18 per cent higher.
Jindal Steel (1.79%), Tata Power (1.46%), ICICI Bank (1.13%), Reliance Industries (1.09%) and Tata Motors (1.07%) were the major Sensex losers.
Bajaj Auto (2.58%), NTPC (1.64%), Cipla (1.47%), Maruti Suzuki (1.18%) and BHEL (0.63%) led the gainers pack.
The market breadth was positive on the BSE with 1,296 gainers against 1,100 losers.
In the Asian markets, The Shanghai Composite was up 0.76 per cent, the Hang Seng moved 0.29 per cent higher and the Kospi moved 0.40 per cent higher. The Nikkei 225 was down 0.63 per cent.
The foreign institutional investors sold equities worth Rs 211.08 crore on Friday, as per provisional data from the NSE.
+POWERED BY: THE ECONOMIC NEWS
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