Posted By : Kishore B.S
“The day Indian markets experienced the effect of Globalization and political turmoil”
The day of the fresh F&O series, Indian markets opened flat and the rupee recovered from a weak open to gain to above 56 to the dollar even though the macro economic factors like Euro fell to its 2-year low and falling Chinese manufacturing data.
The Asian markets were continuously red for the third day with the effect of the debt crisis in the Euro which lately affected the Indian markets along with the micro factors like GDP of 5.3 percent for the fourth quarter of FY12 has sent the Indian markets in red. The Sensex opened 50 points lower at 16171, while the NSE Nifty is more or less flat, down 8 points at 4916
That GDP growth in Q4 was the slowest in nine years continued the effect on the market for second consecutive day.
Sensex was red with the sectors Capital Goods down by 2.99%, Power down by 2.49%, Auto down by2.17%, Oil & Gas down by 2.11% and Information Technology down by 2.01% were losers on the index except FMCG which is up 0.37% emerged as the only gainer today.
The S&P CNX Nifty dipped by 82.65 points or 1.68% to end at 4,841.60. The index touched a high and low of 4,925.00 and 4,831.75 respectively. 4 stocks advanced against 46 declines on the index.
The hot stock today is the IGL which surged up by 40% all of a sudden during the closing session because of the favorable Delhi High Court’s verdict towards the IGL in the case of IGL vs PNGRB case.
(Inputs: Mr. Kommisetty V Shiva Teja A Stock Market Institute Associate, Bangalore)