Global softening prevails on Sensex

Today's major news
Maruti Suzuki April sales up 30% yoy, the stock closes 0.20% higher
Tata Motors April sales up 52%, the stock ends 1.98% lower
HDFC Q4 net profit up 26% yoy, the stock ends 0.58% down
Click here for more stories
Global signals
European stocks fell on Monday as banking shares slipped on growing concerns over Greece’ bailout plan. FTSE (UK) was closed.
All the major Asian indices closed in the negative territory. SGX Nifty closed 41 points lower.
US stock futures signals positive opening for the Wall Street ahead of key manufacturing data to be announced later today.
Indian indices
The domestic indices opened the first day of May month in the red and continued its weak journey till the last trading hour. The market sentiments across the globe got disrupted and turned bearish on fraud case against Goldman Sachs, Greece economic concerns and China raising the banks’ reserve requirement by 50 basis points from May 10, 2010, to soften record lending and prevent potential asset bubbles.
Taking lead from the weak global markets, key benchmark index, the Sensex opened 22 points down at 17537 (day’s high) and bearishness continued owing to selling in metal shares and heavyweights like Reliance Industries and Infosys Technologies. Weak opening in European market also added fuel, which dragged the market further to touch the day’s low of 17346. However at closing bell, the Sensex shut at 17559, 173 points lower and the Nifty closed 55 points down at 5223.
Market sentiment
The market breadth was negative as trailing stocks outnumbered advancing stocks. Of the 2,953 stocks traded on the BSE, 1,648 stocks declined, whereas 1,218 stocks advanced. Eighty seven stocks remained unchanged.
Sectoral & stock screening
Overall, bears were in firm control. Only consumer durables (CD) drew investor interest, with the BSE CD up by 0.85%. All the remaining 12 sectoral indices closed in the negative territory. BSE Metal and BSE CG were hit the most, down by 1.95% and 1.20% respectively.
The gainers’ for the day were — Everest Kanto topped the gainers list, surged by 9.24%, followed by Tulip Telecom that rose by 6.61% and UCO Bank that rose by 4.62%. The losers’ for the day were — Central Bank of India that slid 7.76%, followed by Sesa Goa that declined 6.37%, and ABB that was down 5.97%.
Viewing volumes
Anil Dhirubhai Ambani group company Reliance Natural Resources saw highest trading on fourth straight day with over 1.13 crore shares changing hands on the BSE, followed by industrial finance company IFCI (0.38 crore shares), wind turbine major Suzlon Energy (0.36 crore shares), auto major Ashok Leylend (0.35 crore shares) and today’s highest gainer Everest Kanto Cylinder (0.35 crore shares).