Mumbai: The markets have continued Monday's losses further on dismal global cues. Selling is seen in oil, auto, metal, and select banking stocks. The Nifty has tested the 3,000 mark.
At 9:56 am, the Sensex fell 90 points to 9,838 and the Nifty lost 31 points to 3,008. About 189 shares have advanced while 275 shares declined.
Tata Motors, ONGC, Cairn India, ICICI Bank, Jaiprakash Associates, HCL Technologies, ACC, Tata Steel, Sterlite Inds, M&M, Maruti, Reliance Industries, L&T and HDFC are some of the losers in trade today.
However, gainers are Suzlon Energy, Unitech and Reliance Communication.
Jaiprakash Associates tumbled 5.5%, as the company finalised merger of Jaypee Hotels, JP Enterprises, JP Cement, & Gujarat Anjan with self. Jaypee Hotels is the only listed stock, its shareholders will get 1 JP Associates share for 1 held. However, Jaypee Hotels gained 2.2%.
Bajaj Hindusthan gained 3.8%, as Rahul Bajaj acquired 29.20% stake in the company from all family members in inter-se transfer at market price.
Asian markets are trading lower; Shanghai, Hang Seng, Kospi and Taiwan tumbled 2.5-3%. Straits Times fell 0.4%. Nikkei shut on account of Emperor's Birthday.
NYMEX February crude declined 5.5% to below $40/bbl yesterday. It is currently trading at USD 39.3 to a barrel.
There are lot of factors helping the crude to fall further like Japan imports declined 17% to 3.71 mbpd in November and South Korea demand declined 12.4% in November.
Global recession curbed demand faster than OPEC can cut. Weak demand and OPEC increasing spare capacity is pushing the crude lower.
In the US markets, stocks ended lower amidst gloomy outlooks from companies like Toyota Motors. That stock closed 5.5% down. The other stocks which lost traction include General Motors with a 20% loss and Apple, which lost 5%. The next 2 days is choc-a-bloc with economic data.
The Dow fell 59.34 points, or 0.69%, to 8,519.77. The S&P 500 index slipped 16.25 points, or 1.83%, to 871.63, and the Nasdaq composite index declined 31.97 points, or 2.04%, to 1,532.35.
Market cues:
FIIs net buy USD 114.7 million in equity on December 19
MFs net buy Rs 207.5 crore in equity on December 18
F&O Open Int up by Rs 518 crore to Rs 63,630 crore
F&O cues:
Marketwide rollover 40% versus 25% a day ago
Nifty rollovers 40% versus 31% a day ago
Nifty down 1.2%, Nifty Futures Open Int up by 18.5 lakh shares
Nifty Dec sheds 29.5 lakh shares & Jan Futures add 48.2 lakh shares in Open Int
Stock Futures shed 1.7 cr shares in Open Int
Nifty Dec Futures trade at par; Jan Futures trade at 16.5 pts premium
Nifty Open Int Put-Call ratio down from 1.47 to 1.46; hit 1.5 during the day
Nifty Put adds 6.6 lakh shares, Calls add 10 lakh shares in Open Int
Jan 3000 Put adds 5.7 lakh shares in Open Int
Jan 3100 Put adds 4.5 lakh shares in Open Int
Jan 3100 Call adds 3.3 lakh shares in Open Int
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