style="color: #222222">The India markets ended with losses on Friday wiping out almost half of previous day’s gains on account of some selling pressure seen in the Power, Metals, Capital Goods, Auto and the Banking stocks. Even the Mid-Cap and the Small-Cap stocks witnessed some offloading. The only saving grace were the FMCG and the Consumer Durables stocks which ended with modest gains.
Market participants were cautious as a two-day European Union summit got underway in Brussels. After the first day of the summit wrapped up, Top leaders in Europe announced progress in Greece toward meeting its austerity targets but also said that Greece’s institutional lenders were still reviewing the country’s situation.
Finally, the BSE Sensex closed at 18,682, down 109 points over the previous close. It had earlier touched a day's high of 18,769 and a day's low of 18,611. It opened at 18,768
The NSE Nifty ended at 5,684, down 34 points over the previous close. It earlier touched a day’s high of 5,711 and a day’s low of 5,660. It opened at 5,703.
Infosys, Wipro, DLF, ICICI Bank, Bharti Airtel, HCL Technologies, ONGC, Bajaj Auto, Lupin were among the major gainers in BSE Sensex and Nifty.
While, TCS, Tata Power, M&M, Coal India, Gail, Reliance Infra were among the major losers in Sensex and Nifty,
The INDIA VIX on NSE slipped 1% to end at 14.54. It hit a day’s high of 15.19 and a day’s low of 13.95.
Shares of ITC ended higher by 2% to close at 297 after the index heavyweight posted a net profit of Rs18364.20mn for the quarter ended September 30, 2012 as compared to Rs15143.10mn for the quarter ended September 30, 2011 beating market estimations.
Shares of Petronet LNG ended higher by 1% to end at Rs168.7 after the company posted a net profit of Rs3147.90mn for the quarter ended September 30, 2012 as compared to Rs2603.40n for the quarter ended September 30, 2011.
Globally, the Asia markets ended with modest gains on Friday after important economic data in China either met or exceeded market expectations. The Asian markets added up solid weekly gains.
On Friday, the Nikkei index in Japan ended higher by 0.3%, while the Hang seng index in Hong Kong was up 0.2% and the ASX 200 index in Australia rose 0.26% during the day.
The FTSE 100 index in the U.K. edged lower on Friday, after hitting a 7-month high in the previous trading session. The banking and the mining stocks were among he top laggards in the index.
The FTSE index was trading lower by 0.2%, while the CAC index in France was down 0.4% and the DAX index in Germany declined by 0.5%.
The U.S. stocks ended slightly with a negative bias in the previous trading session after disappointing results from Google and Microsoft. Google Inc reported consolidated revenues of US$14.10bn for the quarter ended September 30, 2012, an increase of 45% compared to Q3 of 2011, while Microsoft Corp announced quarterly revenue of US$16.01bn for the quarter ended Sept. 30, 2012.
The Down Jones edged lower by 0.1%, while the S&P 500 index ended lower by 0.3% and the Nasdaq index fell by 1%.