Dear traders,
Today the market was not so as expected... so lets take a look on the indian market, performance of companies and corporate actions...
The Indian market opens for trade this morning on a flat-to-negative note. Earlier, the US rallied to close higher with the Dow up 291 and Nasdaq up 85 odd points while Asia is mixed at this hour. CNX Midcap index is up 0.3% and BSE Smallcap index is up 0.4%. The market breadth is positive with advances at 338 against declines of 273 on the NSE.
Into the last half hour of trade, the market is rangebound and trading in negative territory. Sensex is at 16010, down 156 points from its previous close, and Nifty is at 4806, down 44 points. CNX Midcap index is down 0.3% and BSE Smallcap index is down 0.2%. The market breadth is negative with advances at 504 against declines of 769 on the NSE.
The coming growth slowdown will be almost as deep as the credit crisis and we expect Indian GDP growth to decelerate to 6.9% in 2012 from our earlier expectation of 7.4%, says Chetan Ahya of Morgan Stanley on CNBC TV18. He believes that the average growth in the four worst quarters will be 6.8% compared with 6.5% during the credit crisis and he sees a high risk of a long-persistent growth slowdown.
The Indian market closed a choppy day of trade on a negative note on the back of profit booking following yesterday's short-covering rally. Selling pressure was seen in heavyweights like RIL which added to the pressure. Sensex closed at 15994, down 172 points (provisional) and Nifty at 4797, down 53 points (provisional) from the previous close. CNX Midcap index was down 0.4% and BSE Smallcap index was down 0.2%. The market breadth was negative with advances at 503 against declines of 782 on the NSE.
It was a down day for the Indian market after the sharp relief rally it witnessed yesterday and today, sectors like banks, metals, autos and oil & gas came under the pressure of profit taking. However, some support was provided by FMCG and select auto stocks. The broader markets traded in sync with the largecaps. Sensex shut shop at 16008, down 158 points and Nifty at 4805, down 46 points from the previous close. CNX Midcap index was down 0.4% and BSE Smallcap index was down 0.2%. The market breadth was negative with advances at 512 against declines of 788 on the NSE. Top Nifty gainers were Dr Reddy's, Bajaj Auto and Mahindra & Mahindra while losers included PNB, Jindal Steel & Power and Bharti Airtel.
Europe has opened in the red and is trading lower while the Indian market is trading with substantial losses.
Asia closes up strong but the Indian market has now slipped back into the red amidst volatility.
This is a market not to sell into but to look for opportunities to buy.
The trend of the market continues to be bearish in the long term and so play on the short side.
Today the market was not so as expected... so lets take a look on the indian market, performance of companies and corporate actions...
The Indian market opens for trade this morning on a flat-to-negative note. Earlier, the US rallied to close higher with the Dow up 291 and Nasdaq up 85 odd points while Asia is mixed at this hour. CNX Midcap index is up 0.3% and BSE Smallcap index is up 0.4%. The market breadth is positive with advances at 338 against declines of 273 on the NSE.
Into the last half hour of trade, the market is rangebound and trading in negative territory. Sensex is at 16010, down 156 points from its previous close, and Nifty is at 4806, down 44 points. CNX Midcap index is down 0.3% and BSE Smallcap index is down 0.2%. The market breadth is negative with advances at 504 against declines of 769 on the NSE.
The coming growth slowdown will be almost as deep as the credit crisis and we expect Indian GDP growth to decelerate to 6.9% in 2012 from our earlier expectation of 7.4%, says Chetan Ahya of Morgan Stanley on CNBC TV18. He believes that the average growth in the four worst quarters will be 6.8% compared with 6.5% during the credit crisis and he sees a high risk of a long-persistent growth slowdown.
The Indian market closed a choppy day of trade on a negative note on the back of profit booking following yesterday's short-covering rally. Selling pressure was seen in heavyweights like RIL which added to the pressure. Sensex closed at 15994, down 172 points (provisional) and Nifty at 4797, down 53 points (provisional) from the previous close. CNX Midcap index was down 0.4% and BSE Smallcap index was down 0.2%. The market breadth was negative with advances at 503 against declines of 782 on the NSE.
It was a down day for the Indian market after the sharp relief rally it witnessed yesterday and today, sectors like banks, metals, autos and oil & gas came under the pressure of profit taking. However, some support was provided by FMCG and select auto stocks. The broader markets traded in sync with the largecaps. Sensex shut shop at 16008, down 158 points and Nifty at 4805, down 46 points from the previous close. CNX Midcap index was down 0.4% and BSE Smallcap index was down 0.2%. The market breadth was negative with advances at 512 against declines of 788 on the NSE. Top Nifty gainers were Dr Reddy's, Bajaj Auto and Mahindra & Mahindra while losers included PNB, Jindal Steel & Power and Bharti Airtel.
Europe has opened in the red and is trading lower while the Indian market is trading with substantial losses.
Asia closes up strong but the Indian market has now slipped back into the red amidst volatility.
This is a market not to sell into but to look for opportunities to buy.
The trend of the market continues to be bearish in the long term and so play on the short side.
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