It was devastating start to the week, as stock market in India cracked further ending near day’s low on Monday. The Nifty and the Sensex collapsed to their November 2013 lows led by selling pressure in the metals, realty, auto and IT stocks. The pressure was so intense that barring the BSE Pharma index all the other indices on the BSE ended in the red.
Even the mid-cap and the small-cap stocks were under pressure.Even positive economic data in the form of Manufacturing PMI was unable to bring any cheer on Dalal Street. The HSBC’s Manufacturing Purchasing Manager Index rose to 51.4 in January its highest since March 2013 against 50.7 in December.
The metals stocks led the decline after China's factory growth eased to an expected six-month low in January. The Purchasing Managers' Index (PMI) edged down to 50.5 in January from December's 51.
Finally, BSE Sensex closed at 20,209 down 305 points, while NSE Nifty closed at 6,002 down 88 points over the previous close.
Even the mid-cap and the small-cap stocks were under pressure.Even positive economic data in the form of Manufacturing PMI was unable to bring any cheer on Dalal Street. The HSBC’s Manufacturing Purchasing Manager Index rose to 51.4 in January its highest since March 2013 against 50.7 in December.
The metals stocks led the decline after China's factory growth eased to an expected six-month low in January. The Purchasing Managers' Index (PMI) edged down to 50.5 in January from December's 51.
Finally, BSE Sensex closed at 20,209 down 305 points, while NSE Nifty closed at 6,002 down 88 points over the previous close.
No comments:
Post a Comment