Capital Goods and Power witnessed

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Market analysis

After opening on a flat note the markets traded sideways till the mid-session and edged higher in the late session ending the day with moderate gains. Among the sectoral indices Auto and Healthcare gained for the second consecutive session while Capital Goods & Power witnessed some selling pressure. Among the Sensex stocks BHEL (3.66%), Hindalco (1.91%) and Gail (1.77%) were the major losers while Coal India (3.85%), HDFC Bank (3.22%) and Tata Motors (3.15%) were the major gainers. The Sensex gained 111 points or 0.20% to close at 17,504 and the Nifty gained 32 points or 0.61% to close at 5,332.

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Total traded turnover stood at Rs 121,915 cr. In equities FIIs while net sellers were (Rs 102 cr) DIIs were net of buyers (Rs 101 cr).On the derivatives side, FIIs were net buyers in Index Futures (Rs 653 cr) and Index Options (Rs 158 cr) while they were net sellers in Stock Futures (Rs 371 cr) and Stock Options (Rs 23 cr).

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The US markets ended lower as disappointing jobless claims data offset positive sentiment led by better than expected earnings by Bank of America and JP Morgan . The Dow Jones lost 68 points or 0.53% to close at 12,964 while NASDAQ lost 24 points or 0.79% to close at 3,008.

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The Disappointing US economic data and renewed worries on the Euro zone debt crisis led to a correction in the Asian indices. Indian markets are also expected to open on a soft note and global cues will be monitored for further direction.

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The Asian markets are trading lower. Nikkei is trading lower by 0.42% while Hang Seng is trading lower by 0.32%.