Sensex plunges 271.48 pts after record high

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Stock Exchange

Mumbai, Dec 13: After hitting a record high, near the 20,500 level yesterday, the Bombay Stock Exchange (BSE) Sensex plunged 271.48 points today to 20104.39 on high profit bookings and high volatility in the late trade today.

Both the benchmark indices, Sensex and Nifty, resumed firm in the early trade and, after hitting a record intra-day high, ended in the negative zone. Market landed in the red in the mid-morning session and failed to recover till late trade following a sudden sell-off in blue-chip stocks on global cues, traders said.

The benchmark Sensex resumed 122.24 points up at a life-time high of 20498.11 in the early trade, following the previous day's gain. It hit a low of 20065.63 in late trade by shedding 310.24 points.

Similarly, National Stock Exchange's (NSE's) Nifty index shed 101.20 points, or 1.64 per cent, to close at 6058.10 from its previous close of 6159.30 points. It hit a record intra-day high of 6185.40 and a low of 6040.40 during the day trade.

FMCG and metal stocks rose, while IT, power, oil&gas, capital goods and banking stocks declined. ITC and Tata Steel were top gainers, while Bharti Airtel and ICICI Bank were major losers from Sensex pack.

Reliance Industries declined sharply in late trade. Asian markets were lower and European markets opened negative today.

The US markets had ended lower yesterday.

Market breadth was strong on BSE. On BSE, 1,813 stocks advanced, 1,056 stocks declined and 28 stocks remained unchanged.

Twenty-one out of 30 stocks from the Sensex pack declined today.

BSE Mid Cap index rose 0.39 per cent to 9375.34. It hit an all time high of 9460.50 today. The BSE Small Cap index rose 1.03 per cent to 12007.33, and hit an all time high of 12138.34 today.

Both these indices outperformed Sensex.

Most of the sectoral indices at BSE ended low today. Frontline stocks including oil and gas fell by 2.17 per cent, followed by Bankex down 1.85 per cent, consumer durables and capital goods fell by about 1.25 per cent, IT was down 1.6 per cent, and power shed 1.55 per cent.

Reliance Industries declined 1.88 per cent to Rs 2832.75. Oil&gas stocks declined sharply in late trade. Essar Oil was down 4.75 per cent to Rs 294.80, Gail (India) came down 3.47 per cent to Rs 523.05, ONGC fell 2.85 per cent to Rs 1,220 and Reliance Petroleum slid 2.31 per cent to Rs 223.75.

ICICI Bank was down 3.27 per cent to Rs 1248.10, HDFC Bank declined 1.57 per cent to Rs 1,756.05, while State Bank of India edged lower by 1.98 per cent to Rs 2,392.

Capital goods stocks declined. Bharat Heavy Electricals shed 2.15 per cent to Rs 2591.50, Larsen&Toubro was down 1.14 per cent to Rs 4235.10 and Suzlon Energy fell 2.15 per cent to Rs 1,966.85.

Power stocks declined with NTPC dropping 1.97 per cent to Rs 246.05 and Tata Power Company falling 3.65 per cent to Rs 1,307.40. Reliance Energy came down 1.05 per cent to Rs 1911.50.

IT stocks declined with Infosys shedding 1.55 per cent to Rs 1,658.70, Satyam Computer Services down 2.34 per cent to Rs 421.05, Wipro falling 1.06 per cent to Rs 500.20, while Tata Consultancy Services falling 1.84 per cent to Rs 1,029.70.

UNI

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