Indian Stock Markets Down; European Issues Drag Asian Markets Lower

Submitted by Hitesh Mehta on Thu, 10/20/2011 - 08:29

Indian Stock markets declined on Thursday over the European Deal. During the afternoon session, BSE Sensex was down by 247 points at 16837 while NSE Nifty was down by 75 points at 5063.

European markets opened lower with CAC down by 1.2% at 3119. DAX was down by nearly a per cent at 5857. In London, FTSE was trading nearly 1.1% lower at 5389.

Among major losers in Indian markets were HDFC (down by 4.7%), Jaiprakash Associates (down by 3.7%), real estate major DLF (down by 3.5% at Rs 230) and IDFC (down by 3.5%).

The most active stocks were trading lower. Bajaj Auto, Tata Motors, ICICI Bank, Tata Steel, Infosys, Reliance and Hero MotoCorp were all trading in the red zone.

The stocks holding in positive territory were Bharti Airtel, Maruti Suzuki, SBI, Sun Pharma and Dr. Reddy's Labs.

In Forex market, USD jumped quite smartly compared to INR. The USD touched a high of Rs 49.77 in today's session. Euro was also trading higher compared to INR, touching high of 68.19. EURO/ USD trade was at 1.37.

Indian markets are expected to close lower today as most of the Asian markets. European markets have opened lower and considering the negative news flow, they might end the day in negative zone.