 "Weakness persists; trade deficit data fails to enthuse")
Markets extended its earlier losses even as trade deficit figures for November, announced today, narrowed both on a sequential and yearly basis led by decreased oil, jems and jewellery imports.
Trade deficit for November stood at $9.23bn against $10.56bn (M-o-M), down 16.3%, on back of lower imports. Trade deficit figures for November were lowest since March 2011. Exports rose 5.86% to $24.61bn while Gold, silver imports fell to $1 bn against $5.4 bn (Y-o-Y). Crude imports narrowed to $12.9bn vs $15 bn (M-o-M).
The 30-share BSE Sensex down 115 points at 21,140 and the Nifty was off almost 36 points to trade at 6,297 as weakness in heavyweights persists.
The rupee, meanwhile, snapped its five-day rising streak against the American currency and fell by 29 paise at 61.29 per dollar today at the Interbank Foreign Exchange market on fresh dollar demand from importers.
FMCG index was the only gainer among the BSE indices tracking various industrial sectors. Oil & gas, capital goods and banks were the top losers down over 1% each.
FMCG major ITC, HUL, Hindalco, Jindal Steel, Bajaj Auto, Maruti Suzuki and HDFC added 0.1-1%.
After the drubbing yesterday, NTPC was up 2% in opening trade and was the top gainer among Sensex-30.
United Breweries was up 2% at Rs 793 after the Dutch liquor giant Heineken hike its stake in the company by over one percentage points through open market transaction.
The ones weighing on the indices in the opening trades were heavyweights like ICICI Bank, TCS, L&T, RIL and ONGC.
Meanwhile, Asian markets look are traded sideways on Wednesday as investors booked profits on a range of once-crowded positions, sending the dollar and Wall Street lower, while lifting the euro, bonds and gold.
News that U.S. budget negotiators had reached a two-year deal to avoid another government shutdown should be a relief to markets globally, but perhaps not enough to brighten the year-end blues.
Stocks in US were off Tuesday, after a record close on the S&P 500, a day earlier. Traders are now eyeing next week's Federal Reserve meeting for potential cues.
The Dow Jones industrial average ended 0.33% lower, while the S&P 500 Index was down 0.32%. The pan-European FTSEurofirst 300 index fell 0.74%.
The market breadth was negative. 557 stocks declined while 388 stocks advanced on the BSE.
Trade deficit for November stood at $9.23bn against $10.56bn (M-o-M), down 16.3%, on back of lower imports. Trade deficit figures for November were lowest since March 2011. Exports rose 5.86% to $24.61bn while Gold, silver imports fell to $1 bn against $5.4 bn (Y-o-Y). Crude imports narrowed to $12.9bn vs $15 bn (M-o-M).
The 30-share BSE Sensex down 115 points at 21,140 and the Nifty was off almost 36 points to trade at 6,297 as weakness in heavyweights persists.
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Broader markets too edged down with the small-cap index down marginally and the midcap index down 0.2%.
The rupee, meanwhile, snapped its five-day rising streak against the American currency and fell by 29 paise at 61.29 per dollar today at the Interbank Foreign Exchange market on fresh dollar demand from importers.
FMCG index was the only gainer among the BSE indices tracking various industrial sectors. Oil & gas, capital goods and banks were the top losers down over 1% each.
FMCG major ITC, HUL, Hindalco, Jindal Steel, Bajaj Auto, Maruti Suzuki and HDFC added 0.1-1%.
After the drubbing yesterday, NTPC was up 2% in opening trade and was the top gainer among Sensex-30.
United Breweries was up 2% at Rs 793 after the Dutch liquor giant Heineken hike its stake in the company by over one percentage points through open market transaction.
The ones weighing on the indices in the opening trades were heavyweights like ICICI Bank, TCS, L&T, RIL and ONGC.
Meanwhile, Asian markets look are traded sideways on Wednesday as investors booked profits on a range of once-crowded positions, sending the dollar and Wall Street lower, while lifting the euro, bonds and gold.
News that U.S. budget negotiators had reached a two-year deal to avoid another government shutdown should be a relief to markets globally, but perhaps not enough to brighten the year-end blues.
Stocks in US were off Tuesday, after a record close on the S&P 500, a day earlier. Traders are now eyeing next week's Federal Reserve meeting for potential cues.
The Dow Jones industrial average ended 0.33% lower, while the S&P 500 Index was down 0.32%. The pan-European FTSEurofirst 300 index fell 0.74%.
The market breadth was negative. 557 stocks declined while 388 stocks advanced on the BSE.