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:
Join the Conversation
- Russia's New Tactical Nuclear Weapons Program Growing Confident Against the US: Talks of World War III
- Apple and Google Engage in Thermonuclear War, New Google Translate Chat App in the Works
- Chris Algieri’s Battered Face Trends On Social Media
- Walmart Offers the Best 2014 Black Friday Deals on iPhone 6, iPad Ai2 & Other Gadgets – Reports
- Kobani ISIS Fighter Sends Out Desperate Message For Prayers And Support: Euphoria Turns Into Desperation As Kurds Advance
- Highest Paid NBA Players 2014: NBA Stars Who Earn More Than LeBron James
- Update Samsung Galaxy S5 to Android 4.4.4 KitKat, Sprint Release and Installation