The Indian benchmarks ended on a considerably negative note on April 4, 2013. After opening with a gap down, they soon started sliding down till first part of the day. In the mid- session, the fall got halted and benchmarks reversed to the day’s high. Then came a tremendous selling pressure from funds which forced the benchmarks to breach the recent low and closed below that. The benchmark indices have closed below their 200-Day Moving Averages for first time since August 2012, Political uncertainty, ETF funds and FII selling and ever-worsening economic data are the key triggers for the downfall. All these led the Sensex to close at the level of 18509.7 i.e. down by 291.94 points and the Nifty to close at the level of 5574.75 i.e. down by 98.15 points. The midcap index and the small cap index closed in red with the loss of one and eight-tenth of a percentage point and slightly more than two percentage points respectively. On the sectoral front all the indicies closed in red. Realty Index was the biggest looser with the loss of more than three and one-third of a percentage point. This was followed by IT Index which closed with the loss of nearly two and half percentage point. On the other hand Auto Index closed as having the least loss at four-tenth of a percentage point.
Further, the market breadth closed negative as one stock was seen advancing against three declining stocks.
No comments:
Post a Comment