Volatility ruled the roost during the last one hour of trade as the key benchmark indices trimmed losses soon after extending intraday losses. The barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty settled at their lowest closing levels in over nine weeks. The high volatility was triggered by traders rolling over of positions in the futures & options (F&O) segment from the near month January 2014 series to February 2014 series. The January 2014 F&O contracts expired today, 30 January 2014. The market breadth, indicating the overall health of the market, was weak. The Sensex was down 149.05 points or 0.72%, up 154.47 points from the day's low and off 30.16 points from the day's high. The market sentiment was hit adversely by the US Federal Reserve's decision of a further reduction in its monthly bond purchases and Fed's indication that it is likely to keep reducing its purchases in the coming months, citing a pickup in US economic activity and improvement in the US labor market. The BSE Small-Cap and Mid-Cap indices dropped more than 1% each.
Indian stocks fell for the fifth day in a row today, 30 January 2014. From a recent high of 21,373.66 on 23 January 2014, the Sensex has declined 875.41 points or 4.09% in five trading sessions. The Sensex has lost 672.43 points or 3.17% in this month so far (till 30 January 2014). From a record high of 21,483.74 on 9 December 2013, the Sensex has declined 985.49 points or 4.58%. From a 52-week low of 17,448.71 on 28 August 2013, the Sensex has risen 3,049.54 points or 17.47%.
Coming back to today's trade, index heavyweight and cigarette major ITC recouped entire losses in late trade. Index heavyweight Reliance Industries fell in volatile trade. Crompton Greaves jumped after the company reported turnaround Q3 earnings after market hours on Wednesday, 29 January 2014. Realty stocks dropped.
Key benchmark indices edged lower in early trade on weak Asian stocks. Key benchmark indices extended initial losses and to hit fresh intraday low in morning trade. The Sensex and the 50-unit CNX Nifty, both, hit their lowest level in more than nine weeks. Key benchmark indices extended losses and hit fresh intraday low in mid-morning trade. Key benchmark indices trimmed losses in early afternoon trade after the Finance Ministry said in a statement that India's economy is better prepared for the consequences, if any, of reduction in bond purchases by the US Federal Reserve and that the Government of India and the Reserve Bank of India will continue to remain vigilant and will take whatever steps are necessary to ensure that there is stability in the financial markets. Weakness continued on the bourses in afternoon trade Key benchmark indices extended losses and hit fresh intraday low in mid-afternoon trade. Volatility ruled the roost during the last one hour of trade as the key benchmark indices trimmed losses soon after extending intraday losses. The barometer index, the S&P BSE Sensex, trimmed losses after hitting its lowest level in more than nine weeks and the 50-unit CNX Nifty hit trimmed losses after hitting its lowest level in almost 10 weeks.
After a monetary policy review, the Federal Open Market Committee (FOMC) on Wednesday, 29 January 2014, announced it will reduce monthly bond purchases by another $10 billion to $65 billion. The Fed also signaled that it is likely to keep reducing its purchases in the coming months, citing a pickup in economic activity and improvement in the labor market. In emerging markets, the reduction in bond purchases by the Fed has triggered worries of slowdown in capital inflows and fears of capital outflows. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets in recent years.
Investors pulled out more than $7 billion from exchange-traded funds (ETFs) investing in developing-nation assets this month, according to reports.
The South Africa Reserve Bank unexpectedly raised the repurchase rate to 5.5% from 5% on Wednesday, 29 January 2014, following Turkey's decision early this week to more than double its benchmark rate amid a rout in its currency.
The S&P BSE Sensex was down 149.05 points or 0.72% to 20,498.25, its lowest closing level since 27 November 2013. The index lost 303.52 points at the day's low of 20,343.78 in late trade, its lowest level since 25 November 2013. The index fell 118.89 points at the day's high of 20,528.41 in late trade. Read more..
Indian stocks fell for the fifth day in a row today, 30 January 2014. From a recent high of 21,373.66 on 23 January 2014, the Sensex has declined 875.41 points or 4.09% in five trading sessions. The Sensex has lost 672.43 points or 3.17% in this month so far (till 30 January 2014). From a record high of 21,483.74 on 9 December 2013, the Sensex has declined 985.49 points or 4.58%. From a 52-week low of 17,448.71 on 28 August 2013, the Sensex has risen 3,049.54 points or 17.47%.
Coming back to today's trade, index heavyweight and cigarette major ITC recouped entire losses in late trade. Index heavyweight Reliance Industries fell in volatile trade. Crompton Greaves jumped after the company reported turnaround Q3 earnings after market hours on Wednesday, 29 January 2014. Realty stocks dropped.
Key benchmark indices edged lower in early trade on weak Asian stocks. Key benchmark indices extended initial losses and to hit fresh intraday low in morning trade. The Sensex and the 50-unit CNX Nifty, both, hit their lowest level in more than nine weeks. Key benchmark indices extended losses and hit fresh intraday low in mid-morning trade. Key benchmark indices trimmed losses in early afternoon trade after the Finance Ministry said in a statement that India's economy is better prepared for the consequences, if any, of reduction in bond purchases by the US Federal Reserve and that the Government of India and the Reserve Bank of India will continue to remain vigilant and will take whatever steps are necessary to ensure that there is stability in the financial markets. Weakness continued on the bourses in afternoon trade Key benchmark indices extended losses and hit fresh intraday low in mid-afternoon trade. Volatility ruled the roost during the last one hour of trade as the key benchmark indices trimmed losses soon after extending intraday losses. The barometer index, the S&P BSE Sensex, trimmed losses after hitting its lowest level in more than nine weeks and the 50-unit CNX Nifty hit trimmed losses after hitting its lowest level in almost 10 weeks.
After a monetary policy review, the Federal Open Market Committee (FOMC) on Wednesday, 29 January 2014, announced it will reduce monthly bond purchases by another $10 billion to $65 billion. The Fed also signaled that it is likely to keep reducing its purchases in the coming months, citing a pickup in economic activity and improvement in the labor market. In emerging markets, the reduction in bond purchases by the Fed has triggered worries of slowdown in capital inflows and fears of capital outflows. Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets in recent years.
Investors pulled out more than $7 billion from exchange-traded funds (ETFs) investing in developing-nation assets this month, according to reports.
The South Africa Reserve Bank unexpectedly raised the repurchase rate to 5.5% from 5% on Wednesday, 29 January 2014, following Turkey's decision early this week to more than double its benchmark rate amid a rout in its currency.
The S&P BSE Sensex was down 149.05 points or 0.72% to 20,498.25, its lowest closing level since 27 November 2013. The index lost 303.52 points at the day's low of 20,343.78 in late trade, its lowest level since 25 November 2013. The index fell 118.89 points at the day's high of 20,528.41 in late trade. Read more..
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