Indian markets ended in the red for third straight session as surge in food inflation and profit booking by foreign institutional investors in previous session dampened sentiments. Rate sensitive stocks remained under pressure on concerns that the Reserve Bank of India may tight interest rates to control inflation.
India’s food inflation rose 18.32% and the fuel price index climbed 11.63% in the year to 25 December 2010 compared to 14.44% and 11.63% respectively in the previous week. The primary articles price index was up 20.20% compared to annual rise of 17.24% a week earlier.
“New money is not coming in and that is a concern for the market. If results are not inline with expectations then we are likely to drift lower,” said Arun Kejriwal, director of research firm KRIS.
Bombay Stock Exchange’s Sensex ended at 20,184.74, down 116.36 points or 0.57 per cent. The 30-share index touched a high of 20425.85 and low of 20107.17 intraday.
National Stock Exchange’s Nifty closed at 6048.25, down 31.55 points or 0.52 per cent. The broader index touched a low of 6022.30 and high of 6116.15 in today’s trade.
BSE Midcap Index was down 1.18 per cent and BSE Smallcap Index moved 1.04 per cent lower.
Amongst the sectoral indices, BSE Realty Index was down 2.41 per cent, BSE Capital Goods Index fell 1.88 per cent and BSE Auto Index declined 1.59 per cent. BSE IT Index was up 0.47 per cent.
Sensex decline was led by Sterlite Industries (-3.80%), Bajaj Auto (-3.60%), ONGC (-3.17%), Cipla (-3.05%), and Maruti (-2.99%) were amongst the losers.
Hindalco (1.70%), TCS (1.39%), NTPC (1.33%), Bharti Airtel (0.96%) and Reliance Industries (0.94%) were the top index gainers.
Market breadth was negative on the BSE with 1861 declines against 995 advances.
Meanwhile, European markets were firmly placed in the green and the US stock futures also indicated a positive start. At 4:35 pm IST , Dow Jones futures was up 0.20 per cent, S&P 50 gained 0.22 per cent and Nasdaq moved 0.23 per cent higher.
India’s food inflation rose 18.32% and the fuel price index climbed 11.63% in the year to 25 December 2010 compared to 14.44% and 11.63% respectively in the previous week. The primary articles price index was up 20.20% compared to annual rise of 17.24% a week earlier.
“New money is not coming in and that is a concern for the market. If results are not inline with expectations then we are likely to drift lower,” said Arun Kejriwal, director of research firm KRIS.
Bombay Stock Exchange’s Sensex ended at 20,184.74, down 116.36 points or 0.57 per cent. The 30-share index touched a high of 20425.85 and low of 20107.17 intraday.
National Stock Exchange’s Nifty closed at 6048.25, down 31.55 points or 0.52 per cent. The broader index touched a low of 6022.30 and high of 6116.15 in today’s trade.
BSE Midcap Index was down 1.18 per cent and BSE Smallcap Index moved 1.04 per cent lower.
Amongst the sectoral indices, BSE Realty Index was down 2.41 per cent, BSE Capital Goods Index fell 1.88 per cent and BSE Auto Index declined 1.59 per cent. BSE IT Index was up 0.47 per cent.
Sensex decline was led by Sterlite Industries (-3.80%), Bajaj Auto (-3.60%), ONGC (-3.17%), Cipla (-3.05%), and Maruti (-2.99%) were amongst the losers.
Hindalco (1.70%), TCS (1.39%), NTPC (1.33%), Bharti Airtel (0.96%) and Reliance Industries (0.94%) were the top index gainers.
Market breadth was negative on the BSE with 1861 declines against 995 advances.
Meanwhile, European markets were firmly placed in the green and the US stock futures also indicated a positive start. At 4:35 pm IST , Dow Jones futures was up 0.20 per cent, S&P 50 gained 0.22 per cent and Nasdaq moved 0.23 per cent higher.
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