Local bourses after starting weak have now trimmed some of the losses led by the gains registered in the stocks of Oil & Gas and Realty sectors coupled with upmove in of some large cap stocks which have helped the markets to shed some of their losses. The global sentiments that turned negative affected investors on the Dalal Street as the Asian market continue to trade deep in red on rising concerns over the political tensions in the Middle East, while, Nikkei 225 in Japan fell after rating agency Moody's downgraded Japan's credit rating because of massive debt. The US futures too were showing an uptick on the screen trade. Back home, stocks from the Auto, Bankex, Capital Goods (CG) space were depicting declining trend, while stocks from Oil & Gas and Realty sector were struggling to push the breadth on the positive side. Key heavyweight --Reliance Industries--up move encouraged the market to pare their losses as RIL announced that it is selling 30 per cent stake in its 23 oil and gas blocks to BP for $7.2 billion after market hours on Monday. The overall market breadth on BSE was in the favour of declines which thrashed advances in the ratio of 1253:860, while, 85 shares remained unchanged.
The BSE Sensex is currently trading at 18,356.46, down by 81.85 points or 0.44%. The index has touched a high of 18,394.17 and a low of 18,248.49 respectively.8 stocks were advancing against 22 declinning one's on the index.
The broader indices too were trading in the red; the BSE Mid cap and Small cap indices were down by 0.33% and 0.22%, respectively.
Oil & Gas up by 2% and Realty up by 0.29% were the only gainers on the index.
On the other hand, the top laggards on the sectoral front were Auto down by 1.64%, Bankex down by 1.45%, Capital Goods (CG) down by 1.42 %, Public Sector Undertaking (PSU) and Healthcare (HC) down 0.79% were down by 1.38%.
The Major gainer on the Sensex included Reliance Industries up by 4.03 %,Wipro up by 1.95%, Sterlite Industries up by 1.84%, Reliance Communication up by 0.91% and TCS up by 0.73%.
On the other hand Hero Honda down 2.73%, Mahindra & Mahindra down 2.33%, Maruti Suzuki down by 2.04%, Tata Motors down by 1.98% and HDFC Bank down 1.96% were the major losers.
The civil aviation industry continues to remain in a very bullish mode riding on fast growing Indian economy and a strong outlook going into the next financial year. According to the data released by the director general of civil aviation (DGCA), overall domestic airlines passenger traffic grew by 20.7% in the month of January 2011.
Total passengers carried by domestic airlines during January 2011 stood at 49.36 lakh as against 40.88 lakh during the corresponding period of previous year. There was some slowdown in traffic on sequential basis with the passenger traffic reporting a marginal decline of 5.31% in January as against the passenger traffic of 52.13 lakh in December 2010. This however is on the expected lines as January marks the beginning of leaner season after the holiday period.
Looking at the cross section trends, Jet Airways continued to lead the market with a share of 24.8%, Kingfisher regained the second spot in domestic market with a market share of 19.5%, IndiGo was at third spot with 19.2% share, while Air India has slipped to fourth place with a share of 15.8%. Spice Jet and Go Air had market shares of 14.3% and 6.4% respectively.
The airlines have also been enjoying higher load factors due to rising demand. According to the statement, IndiGo had a seat factor of 88.6% during January, Kingfisher 86.5%, Go Air 83.3%, Spice Jet 82.6% Jet Airways 73.9 and its low cost subsidiary Jetlite 74.2%. Air India however had the lowest seat factor of 69.3%.
Aviation industry has seen a strong recovery in last few quarters riding on the improving economic conditions and surging demand for air travel. However, the industry is once again facing cost escalation has crude prices have continued to remain at highly elevated levels amidst the ongoing unrest in many countries in Middle East, the world's largest oil producing region. While airlines have been so far able to pass on the increase in cost to consumers by hiking fuel surcharge, if crude rises further towards highs seen in 2008, things may get difficult as incremental air travel demand in the country is quite price sensitive.
The S&P CNX Nifty is currently trading at 5,488.70, down by 29.90 points or 0.54 %. The index touched a high of 5,504.65 and a low of 5,458.75 respectively. 9 stocks were advancing against 41 declining one's on the index.
The top gainers of the Nifty were Reliance Industries (RIL) up by 4.04%, Cairn India up by 1.82%, Wipro up by 1.80%, Sterlite Industries up by 1.63% and Reliance Communication up by 0.85%
The top losers of the index were Suzlon down by 2.74%, Hero Honda down 2.72%, BPCL down by 2.70%, M&M down by 2.39% and Sun Pharmaceuticals down by 2.14%.
All the Asian equity indices were trading in red; Shanghai Composite was down by 2.09%, Hang Seng dropped 1.92%, Nikkei 225 discarded 1.66% Jakarta Composite declined 1.04%, KLSE Composite shed 0.81%, Straits Times slid 1.36%, Seoul Composite fell 1.47% and Taiwan Weighted lost 1.82%.
Unit-8, 3rd Floor, First Mall, The Mall, Ludhiana-141001, Punjab (INDIA).
| To unsubscribe or change subscriber options visit: http://www.aweber.com/z/r/?TJzsLEwstCyc7OysHMyctEa0nIwsjGwMHA==  |
Posts
0 comments:
Post a Comment
Note: only a member of this blog may post a comment.