Markets close lower in see-saw trade

The Indian markets ended with moderate losses amid extreme volatile trade. The Sensex falls 71 and the Nifty slips 23 points at the close.

Major headlines

Food inflation at 9.9% versus 8.04%

Reliance Power Q1 consolidated net profit at Rs1,961.21 million

Tata Motors Q1 consolidated net profit at Rs2,000 crore



Indian indices

The key benchmark indices remained highly volatile in today’s trade after taking a breather in the previous session. The indices swung between gains and losses and closed the trade on a negative note, ignoring positive US stock futures and European cues. Selling pressure in banking, technology, realty and consumer stocks led the decline. Losses in frontline shares also added pressure.

Sensex movements: The Sensex started the session 74 points lower at 17057 and fell further to hit the day’s low of 17013 in early trade. The index was trading volatile amid rangebound trade. In early afternoon session, the index moved higher and touched the day’s high of 17208. The index fluctuated between gains and losses all throughout the day. The Sensex closed 71 points lower at 17059 and the Nifty shut shop at 5138, down by 23 points.

Market sentiment

The market breadth was marginally lower as 1336 shares rose, 1481 shares fell and 113 shares remained unchanged.

Viewing volumes

Wind turbine major — Suzlon witnessed highest trading, with over 0.35 crore shares changing hands on the BSE. Following that one of the largest private sector fertiliser producers in India — Chambal Fertilisers & Chemicals (0.31 crore shares), a producer of fertilizers and basic chemicals for agriculture — Rashtriya Chemicals & Fertilizers (0.21 crore shares), a ADAG Group firm — Reliance Power (0.21 crore shares) and India's largest sugar refiner — Shree Renuka Sugars (0.19 crore shares).

Sectoral & stock screening

Out of 13 sectoral indices, 11 sectors fell, one rose and one remained unchanged. Top losers — BSE Bankex fell by 1.04%, BSE TECk lost by 0.86%, BSE Realty slipped by 0.86% and BSE Consumer Durables (CD) went down by 0.84%.

Top three gainers in ‘A’ group pack — Tata Communications surged by 7.61%, Rashtriya Chemicals & Fertilizers gained by 5.58% and Jain Irrigation rose by 4.54%. Top three losers — Financial Technologies declined by 6.16%, Apollo Tyres slid by 5.22% and Jet Airways dipped by 5.17%.

Global signals

The European equities rebounded on Thursday after sliding the previous day on unfounded rumours of a France credit rating downgrade and worries over Societe Generale's Greek debt exposure.

The Asian indices closed mixed on Thursday. Nikkei fell 0.63% and Shanghai Composite rose 1.27%.

The US stock index futures signal positive opening on the Wall Street on Thursday.

Market Outlook: US International Trade and Weekly Jobless Claims will be declared on Thursday.