Sensex Likely To Lack Luster Monday Amid Investor Caution
By IBTimes Staff Reporter | February 11, 2013 2:51 PM EST
India’s Sensex is expected to be range bound on Monday as investors are likely to remain cautious with other major Asian markets closed for the day.
On Friday, the US stocks rose as investor sentiment turned positive amid encouraging economic indicator indicating that the growth of the world’s largest economy is reviving. According to the data released on Friday by the the Bureau of Economic Analysis, the trade deficit, which measures the difference in value between imported and exported goods and services over the reported period, fell to $38.5 billion in December from $48.6 billion in November.
The Dow Jones Industrial Average rose 0.35 percent, the S&P 500 Index was up 0.57 percent and the Nasdaq Composite Index gained 0.91 percent.
On Friday, the Sensex fell 95.55 points to close at 19484.77. The overall market breadth was negative with 763 advances against 1397 declines. The BSE's Midcap Index dropped 0.72 percent to 6756.01 and Smallcap Index declined 0.95 percent to 6794.14.
Sensex was down 1.5 percent last week. Investor confidence was weighed as the government released a statement last week that India’s gross domestic product was estimated to grow at an annual rate of 5 percent in the 2012/13 fiscal year. Earlier, the finance ministry had projected the economy to grow at 5.7 to 5.9 percent during the year. Market players felt that the downturn in industrial production and weak export orders would continue to hamper India’s economic growth.
To contact the editor, e-mail:
Most Popular Slideshows
- Flight MH17 Attack: Russians Claim 'Putin A Terrorist,' Memorial at Dutch Embassy Overflows [PHOTOS]
- Typhoon Rammasun Claims 18 Lives in China, Incurs $4.32B Losses (PHOTOS)
- Ellen DeGeneres Caught Cheating with Mutual Friend Before Portia de Rossi’s Rehab – Reports [PHOTOS]
- Malaysia Airlines MH17: Vital Black Boxes Finally Land in Hands of Malaysian Authorities, Rebels Announce Ceasefire (PHOTOS/VIDEOS)
Join the Conversation
- Australian Stock Market Report – Midday July 23, 2014
- Major European & U.S. Airlines Cancel Flights to Israel after Rocket Attack on Tel Aviv Airport
- Alibaba Okays Yahoo Request to Sell 140 Million Shares Via IPO, 68 Million to Be Sold to Shareholders
- Australian Stock Market Report – Midday July 24, 2014
- Australian Stock Market Report –Afternoon July 24, 2014
- Samsung Galaxy Note 4 Apps Leak Online, Five Fresh Features to Expect from the Android Smartphone
- Moto 360 Price Speculations, Key Features, Strategic Release Date, Design: A Watch That is More Than Just Time
- Windows Phone 8.1 Update Rollout: 20 Nokia Lumia Phones Eligible and 13 New Features to be Added
- Three New Moto G Successors Spotted in FCC Document Dubbed Moto G2, Moto M and More --Reports
- iPad Air 2 Release Date Will Skip IGZO Panel; To Rollout with Super-Slim iPad Mini Air
- Upcoming iPad Mini 3 Could be 30% Thinner and Likely be Called iPad Mini Air; Apple Q3 Results Show 9% Decrease in iPad Sales
- HTC Google Nexus 8 Release Date Imminent with New Nexus 7 Deals, Two New Tablets Soon