Meanwhile, Japan's Nikkei 225 Stock Average fell 1.82% or 181.59 points at 9,822.61 slower than expected growth in U.S. industry in service and rising unemployment claims to fuel concerns about the pace of growth in the economy. Yen weakened against the dollar in anticipation of the Government of Japan will intervene to stop dobitke.Širi Topix lost 1.3%, to 854.55, with almost four times as stocks retreat as progress.
Shanghai Composite Index decreased by 0.79% to 2,849.60 and the Hang Seng index was 0.51% lower at 119.49 to 23,142.12. Meanwhile, the Straits Times and Seoul Composite are trading down by 0.46% and 1.89% respectively. In the domestic arena, the market will likely follow the rout of the global counter parts and a range of trade related to the lack of movement. Metal, IT and Realty pivotals will be in focus today.
On Thursday, the domestic stock market ended the session a bearish note as the benchmark indices continued to slide after speculation on petrol and diesel price hike decision by the government. During morning trading, most Asian stocks fell, dragging the regional benchmark index lower for the third consecutive session due to lower than estimated growth in U.S. service industries and employment to concerns over the pace of economic recovery.
Soon after opening in negative terrain, the benchmark index began as a volatile than primary in a narrow range. However, a significant selling pressure emerged after mid-session and superb instrument has been seen pulling close to 5450 marku.Mješoviti opening European markets had a limited impact on the domestic arena.
BSE Sensex closed at 18,210.58 down by 258.78 points or 1.40% and the NSE nifty closed at 5,459.85, lower by 77.30 points or 1.40%. BSE Midcap was at 6,800.66 down by 65.30 points, or 0.95% and BSE SmallCap closed at 8,287.07, lower by 103.23 points or 1.23%. BSE Sensex touched intraday high of 18,569.21 and intraday low 18,160.65.
On Thursday, chief equity averages veered sharply lower for the fourth time in as many sessions. Prior to that downward movement of the stock market has risen to seven of the eight sessions. Sell-off was caused by news of initial unemployment claims for week ended 30 April that spiked to 474,000 from the expected figure of 400,000, with respect to Briefing.com.
This spike is much sharper than many expected on the streets. This report and a disappointing ADP Employment Change report for April has raised eyebrows about what tomorrow morning, the official jobs report might look like.
In all, the news of increasing productivity in the first quarter by 1.6%, better than expected figure of 1.0%, would not capture much attention. Meanwhile, energy stocks continue to fall due to significant weakness in oil prices that closed below $ 100 per barrel by mid-March.
Crude oil futures for July closed lower by 8.6%, to $ 99.80 per barrel, the resolution below the $ 100 level for the first time since 16 March, while July natural gas ended 7% lower at $ 4.25 per MMBtu, the lowest level of 19 April. Furthermore, June future for gold fell by 2.2% to $ 1,481.70 per ounce and July silver fell for the future of 7.9%, to $ 36.30 per ounce in New York Mercantile Exchange.
The major indices, Dow Jones Industrial Average (DJIA) closed with a loss of 139.41 points or 1.10% to 12,584.17 and Nasdaq finished lower by 13.51 points or 0.48%, to 2,814.72. S & P 500 (SPX) closed lower by 12.22 points or 0.91%, to 1,335.10.
FIIs on Thursday stood as net seller in equity while net buyer in debt. Gross equity purchased stood at Rs. 2,449.00 crore and gross debt purchased stood at Rs. 1,523.40 crore, while the gross equity sold was Rs. 3,149.00 crore and gross debt sold stood at Rs. 5,74.90 crore. Thus, net capital investment and debt reported Rs. (700.00) crore and Rs. 948.50
Top traded volumes on NSE nifty - Jaiprakash Associates Ltd 13,764,091.00, Bharti Airtel Ltd 8953797.00, 6990527.00 Hindalco Industries Ltd, Infrastructure Development Finance Company Ltd 6,624,633.00, Reliance Communications Ltd 6,562,979.00.
On BSE, total number of shares traded was 23.42 crore and total turnover stood at Rs 2,734.96 crore. On the NSE, the total number of shares traded were 51.98 crore and the total turnover of Rs 10,726.66 crore.
On NSE Future and Options, the total number of contracts traded in index futures was 584,148 with a total turnover of Rs. 15,060.34 crore. In addition to the total number of contracts traded in stock futures were 494,789 with a total turnover of Rs. 12,589.47 crore. The total number of contracts for index options were 3014026 with a total turnover of Rs. 84,854.73 crore and the total number of contracts for stock options is 90,675 with a total turnover of Rs. 2,380.81 crore.
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