Mumbai, Feb 6:
The Sensex and the Nifty fell over 0.4 per cent in the pre-noon session on Thursday due to heavy selling in realty and capital goods sector stocks despite firm Asian cues.
At 11.30 a.m., the 30-share BSE index Sensex was down 92.85 points or 0.46 per cent at 20,168.18 and the 50-share NSE index Nifty was down 31 points or 0.51 per cent at 5,991.40.
Among BSE sectoral indices, realty and capital goods indices fell the most by 1.24 per cent and 1.01 per cent, respectively, followed by IT 0.64 per cent and TECk 0.4 per cent.
On the other hand, metal, consumer durables, FMCG and healthcare indices remained investors' favourite and were up 0.61 per cent, 0.21 per cent, 0.09 per cent and 0.03 per cent, respectively.
Tata Power, Coal India, HUL, Wipro and Tata Steel were the top five Sensex gainers, while the top five losers were BHEL, ICICI Bank, TCS, HDFC and L&T.
The Nifty and the Sensex opened flat in the absence of directional cues. The Nifty opened at 6,028, up six points, while the Sensex opened higher by 25 points at 20,286.
A report by India Forex Advisors said: "Foreign investors sold a net $1.7 billion worth of shares and debt over the previous seven sessions. This is in contrast to the consistency of flows witnessed in the first two months every year. We have to say this because January has been one of the worst months in terms of FII inflows. The sell-offs were primarily triggered by weaker-than-anticipated US data, as well as concerns over growth in China and the outlook for some emerging economies. This is not only the case with India. Other major emerging markets (EM) are also seen undergoing the similar situation. The slowdown in emerging economies and the US central bank's decision to scale back monetary stimulus have many investors worried about the state of the world's economy. Blame game is on in this context. Some are blaming the US Federal Reserve for withdrawing its asset purchase too quickly, while others are holding the EM's responsible saying these markets were unprepared for it. We cannot blame all of it on the Fed' tapering decision, because the EM's have always been suffering from their internal quandaries which are posing a threat to these countries itself."
In the Asian trade, Japan"s Nikkei index was up 0.31 per cent, Hong Kong's Hang Seng index up 0.48 per cent, Australia's S&P/ASX 200 index up 1.03 per cent, while China's Shanghai index was down 0.82 per cent.
In the US, a weaker-than-expected private jobs report was offset by services sector data showing a pickup in growth. a private payrolls report offset services data. The Dow Jones industrial average ended lower by 5.01 points or 0.03 per cent at 15,440.23, the S&P 500 was down 3.6 points or 0.2 per cent at 1,751.64 and the Nasdaq Composite fell 20 points or 0.5 per cent to 4,011.55.
Investors were keeping an eye on the ECB and US jobs data hoping that it can calm the nerves strained by the emerging market sell-off.
(This article was published on February 6, 2014)
via Business - Google News http://ift.tt/N6suX7
Put the internet to work for you.
0 comments:
Post a Comment