Indian Markets start the week on hawkish note

Indian Markets have started the week on a hawkish note as indices ended lower in the first trading day of the week on looming concerns over a possible US government shut down. Nifty ended the day at 5735.30, down 97.90 points or 1.68 % and Sensex closed lower by 347 points or % at 19379.77.

Selling pressure was witnessed in several sectors including Banking, Metals, Realty, PSU and Capital Goods. IT stocks were trading marginally higher during the day's trading.

Out of 50 stocks in NSE Nifty, 41 declined and 9 stocks bucked the trend and closed higher. Major losers in Nifty are, NMDC (-5.33%), Tata Steel (-5.24%), JP Associates (-4.64%), ICICI Bank (-4.59%), Coal India (-4.27%), BHEL (-4.14%), L&T (-3.58%), HDFC (-3.32%), DLF (-3.26%), PNB (-3.18%) and ONGC (-3.08%). Gainers in Nifty were, ACC (+1.13%), Hindustan Unilever (+0.97%), HCL Technologies (+0.86%) and BPCL (+0.52%).

Out of 30 stocks in BSE Sensex, only 5 stocks were gainers and the balance 25 stocks closed lower. Major losers in Sensex were Tata Steel (-5.65%), BHEL (-4.58%), ICICI Bank (-4.15%), Coal India (-3.92%), L&T (-3.53%), HDFC Bank (-2.63%). Gainer in Sensex were HUL (+1.06%), Sun Pharma (+0.47%).

After market hours on Monday, the data of India's current account deficit (CAD) for the first quarter ended June 2013 was released. The CAD stood at $ 21.8 billion (4.9% of Gross Domestic Product ) as against $ 16.9 billion (4.0% of GDP) in April-June 2012.

Source : Equity Bulls

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