Market closes lower, amid weak China economic data
Markets today closed near the day's low. After opening weak it continued to trade weak, as China posted economic data raising worries that the global growth is still struggling. Further dampening the market sentiment was the US Federal's decision to further taper its monetary stimulus. The S&P BSE Sensex closed down by 304.59 points or 1.48% at 20,209.26. It opened down by 34.82 points or 0.17% at 20,479.03. The CNX Nifty also slipped by 87.70 points or 1.44% at 6,001.80. It opened gap down by 30.7 points or 0.50% at 6,058.80.
Among the sectoral indices, except for Healthcare index which closed up by 1.10% all other indices closed weak. Metal index was the top loser by felling 3.06%. Following the trend, Realty index also declined by more than 2%. Bankex, Power, Oil & Gas, Auto and IT indices slipped between 2-1% each. FMCG, Consumer Durables and Capital Goods were the other sectoral indices closing weak. Even the broader market closed weak. Mid-cap index fell by nearly 1% while Small-cap index down by nearly 0.5%.
There only couple of shares in the index gainers list managing to close in green. Gail (India), Dr Reddys Lab and Sun Pharma gained between 2-1%. Cipla Limited advanced by 0.57% and Axis Bank gained by 0.23%.
Among the index losers, Hindalco Industries was the top loser dropping by nearly 6%. Following the trend were Tata Steel Limited, Bajaj Auto, BHEL, Tata Motors Ltd and ONGC shares felling between 4-3%. Bharti Airtel Limited, ICICI Bank, State Bank of India, HDFC and Infosys too fell between 3-2%. Wipro Limited, Sesa Sterlite, Tata Consultancy Services, Maruti Suzuki, Tata Power Ltd, Reliance Industries and ITC also declined between 2-1%. Hero MotoCorp, L&T, Mahindra & Mahindra, Coal India Limited, HDFC Bank, NTPC and Hindustan Unilever were the other index losers.
Today market breadth ended firm negative. Of 2675 shares traded, 1434 shares ended weak as compared to 1096 shares advancing. While 145 shares remained unchanged.
Market closes lower, amid weak China economic data
http://www.stockmarketpulse.net/2014/02/03/market-closes-lower-amid-weak-china-economic-data/
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