INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Heavy selling pressure over the last one hour of trade dragged key stock indices significantly lower on Tuesday ahead of key
macroeconomic data slated to be released later in the day
The indices defied positive cues from global markets and strength in the rupee to settle lower
Market swung between gains and losses, indicating high volatility
The Sensex dropped 241 points, or 0.66 per cent, to 36,154, taking its slide to the fourth straight day, because of weakness in financials
Meanwhile, the Nifty closed the day at 10,831, down 57 points, or 0.53 per cent
Markets at a glanceGainers losersAmong Sensex stocks, 22 lost while eight closed in the green
Hero MotoCorp led the losers' bloc, tanking 2.63 per cent
It was followed by HDFC, SBI, ICICI Bank, Infosys and HCL Tech
Each of these scrips declined over 1 per cent each.
Sun Pharma (up 2 per cent), however, led the Sensex gainers' pack, followed by Coal
Both of these stocks are set to report their third-quarter numbers today.
Midcap and smallcap watchBSE Midcap declined 0.06 per cent, but
performed better than the benchmark
BSE Smallcap tanked as much as 0.43 per cent
Sectoral playAmong 19 sectoral indices on the BSE, only four ended higher today
Metal pack was the top performing sector with gains of 1.65 per cent amid hopes of a possible trade deal between the US and China
Barring Hindalco and NALCO, all other constituents of the BSE Metal index settled higher
Healthcare, Energy and Basic Materials were other indices that rose today
On the losing side, telecom bled the most, followed by realty and IT
Factors at playCaution ahead of key macro data
Key macroeconomic numbers, IIP for December and consumer inflation print for January, are
scheduled to be released later today, which are being keenly tracked by investors
According to a Reuters poll, economists predicted consumer price inflation (CPI) to have accelerated to 2.48 per cent in January, from 2.19
Mixed bag of earningsThe stock market is reeling under the effects of mixed bag results from the companies for the December quarter that is
"On an overall basis, while the margins may have been under strain, the consumption story seems to be intact and that has come out in the
results in companies across sectors, be it FMCG or other sectors
One pocket of concern is the auto sector because of the restricted flow of credit and high fuel prices
It has also translated into their quarterly performance and if this persists, one will have to be a little guarded about this sector," said
Sanjay Sinha, Founder, Citrus Advisors.
Expert-takeVinod Nair, Head of Research, Geojit Financial Services
Lack of positive triggers is
impacting sentiment of domestic equity market
India is underperforming in spite of improvement in the global market and appreciation in INR
Inflows have reduced this month due to muted Q3 results and outcome of general election
Expectation is that market momentum will reverse as economy stabilizes post-election and borrowing cost reduces.
Rajnath Yadav, Senior
Research Analyst, Choice Broking
Investors took a cautious approach ahead of the industrial production (IIP) data for December and inflation
numbers for January to be released in the post market hours
This data will dictate the market tomorrow.
