Weakness in European markets pushes Nifty to negative terrain - AXIS Direct

After opening on a steady note, the markets moved in a narrow range till late afternoon, but selling in the last half an hour in line with weakness in European peers pushed the markets towards the negative terrain. Among the sectoral indices, Consumer Durables declined (1.38%), followed by IT (0.67%), Metal (0.56%), Teck (0.53%) and Oil & Gas (0.45%). However, Realty rose by 1.32% and Capital Goods by 0.59%. In the Sensex stocks, Hero Motocorp (2.51%), Wipro (1.35 %), Bajaj Auto (1.33%) were major losers. While, Tata Power (2.28%), HDFC (1.91%), Sun Pharma (1.79%) were major gainers. The Sensex lost 37points or 0.19% to close at 19,646 and the Nifty lost 3 points or 0.06% to close at 5,942.

Total traded turnover stood at Rs 135,951 cr. In equities FIIs were continued to be net buyers of (Rs 988 cr) while DIIs were net sellers of (Rs 787 cr). On the derivatives side, FIIs were net sellers in Index Futures (Rs 69 cr) & Stock Options (Rs 99 cr). While, they were net buyers in Index Options (Rs 2176 cr) Stock Futures (Rs 381 cr).

The US markets ended with marginally higher due to lack of major U.S. economic news. The Dow Jones gained 50 points or 0.4% to close at 14,447 while the NASDAQ gained 9 points or 0.30% to close at 3,253.

The Asian markets are trading higher. Nikkei is trading higher by 0.35% while Hang Seng is trading higher by 0.56%.

Asian markets are trading firm following Wall Street's record close overnight as growing confidence in the U.S. economy override concerns in the euro zone. Indian indices are also expected to open in the green and further cues will be taken from Japan where there is speculation of over imminent monetary easing.

Source : Equity Bulls

Keywords