Negative Global Cues Pull Sensex Down
The Sensex belled the day on a dull note following mixed signals from global shores. The 30-share index, BSE Sensex today (May 06) opened with a loss of 30.39 points, at 12,100.69 on Wednesday.
During the previous session, Sensex marked its closure after losing 3.67 points, or 0.03%, whereas the broad-based Nifty surged 7.90 points (0.22%) at the closing time.
The stocks, which moved up during early trades include realty and power, whilst IT, auto and banking stocks went down.
BSE Midcap and Smallcap index remained up after gaining 0.82% and 0.84% respectively.
According to technical analyst & derivative strategist VK Doshi, "Though the markets look positive in the short term, they may see some consolidation at these levels."
At 09:59 a. m., the 30-share index Sensex lost 16.73 points at 12,114.35 after hitting a high of 12,114.35 and a low of 12,100.69.
In the meantime, Nifty stood at 3,652.60, down 9.30 points, after touching a high of 3,666.80 and a low of 3,637.60.
Among the Sensex stocks, Reliance Capital led gainers chart after gaining 0.95 per cent. Tata Power Company (0.72%), Ranbaxy Laboratories (0.68%), Hindustan Unilever (0.67%), DLF (0.54%), and Bharat Heavy Electricals (0.51%) were the other major gainers in the Sensex pack.
However, the major losers in the Sensex included ICICI Bank plunged Sterlite Industries (India) (3.29%), Infosys Technologies (1.83%), ICICI Bank (1.33%), Sun Pharmaceutical Industries (1.24%), Bharti Airtel (1.10%), and Mahindra & Mahindra (1.03%).
In the US market, traders booked profits on yesterday, leaving the major stock indices with modest losses, as the market waited for key statements on the government's appraisal of banks' health and the current figures on jobs.
The Dow lost 16.09 to 8,410.65. The Nasdaq composite index declined 9.44 to 1,754.12.
The Standard & Poor's 500 index dropped 3.44 to 903.80.
Asian markets remained mixed in today's session. While Hong Kong's Hang Seng and China's Shanghai Composite were in the positive zone, South Korea's Kospi was down.