MARKET INSIGHTOn Thursday 07April 2011, Indian equity markets made a sluggish Most of the Asian equity indices finished the day's trade in the start and traded in red for most part of the day as the rising crude oil prices casted its shadow on the mind of the investor's Though the Asian markets granted its support to the Indian bourses but later along with their. regional counterparts domestic bourses too started paring gains and remained quite rangebound right uptill the early afternoon session. Post which the market did witness pullback which also drove the Benchmark BSE Index--Sensex above its psychological level of 19600 mark. However, approaching the close the markets went back into their consolidation mood and ended one more day on quiet note. The two stocks, Sesa Goa and Cairn India remained in somber mood today. Both the stocks lost steam as Cairn Energy and Vedanta Resources on Thursday extended the deadline for a $9.6 billion deal for Cairn's India assets to 20 May 2011 to
accommodate the completion of the open offer for Cairn India shares. The two companies had earlier set an April 15 deadline to seal the long-pending deal, first announced last August
The BSE Sensex declined 21.02 points or 0.11% to 19,591.18, The index touched a high and a low of 19,665.09 and 19,537.02 respectively. 12 stocks advanced against 18 declining one's on the index. The BSE Mid-cap and Small-cap indices gained 0.98% and 1.25%, respectively. On the BSE sectoral front, Realty up 1.12%, Capital Goods (CG) up 0.53%, Healthcare(HC) up 0.42%, Bankex up 0.25% and Metal up 0.14%. (Provisional)
On the flip side, Information Technology (IT) down 0.71%, Oil & Gas down 0.49%, Teck down 0.42%, Public Sector Undertaking (PSU) down 0.42% and Consumer Durables (CD) down 0.31% were the only losers. (Provisional)
India VIX, a gauge for market's short term expectation of volatility declined 0.04% at 20.32 from its previous close of 20.36 on Wednesday. The S&P CNX Nifty shed 6.05 points or 0.10% to settle at 5,885.70. The index touched high and low of 5,906.10 and 5,866.25, respectively.22 stocks advanced against 27 declining one's on the index, while 1 stock remained unchanged. (Provisional)
Most of the Asian equity indices finished the day's trade in the positive terrain on Wednesday, led by Chinese Shanghai Composite, which surged more than one percent in the trade today and breached its crucial 3,000 point mark as investors shrugged off fourth interest rate hike since October. The People's Bank of China on Tuesday raised interest rates by 25 basis points. However Japanese Nikkei edged lower on Wednesday on increasing worries over mounting production losses for quake-hit manufacturers and Seoul shares too declined in today's trade, led by falls in technology and banking stocks, which include Samsung Electronics Company.
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