Reliance Industries and ICICI Bank contributed 30 pc to this fall from record 21,207 on the Sensex. L&T, Reliance Communication, Tata Steel and HDFC follow close behind.
4:36 PM 10/17/2008
Just in: Due to extreme pressure, Sensex has touched a low of 9,998 points and Nifty at a low of 3,072. Sensex fell 567 points to 10,013 and the Nifyt lost 187 points to 3,081, at 3:13 pm.
Realty, power, telecom, metal, capital goods, banking, oil and technology stocks are taking huge beating on the bourses. Midcap and small cap stocks are also under pressure. Top losers from Sensex pack were Sterlite Industries (-9 pc), DLF (-8.51 pc), Reliance Infrastructure (-8.5 pc) and Reliance Communications (-8.48 pc). Bharti Airtel, Infosys, ICICI Bank, SBI, BHEL, NTPC, HDFC Bank, ONGC and L &T are the other biggest contributors to this fall.
3:15 PM 10/17/2008
Mumbai, Oct 17: Positive measures from the government boosted market sentiments on Thursday, Oct 16 with the 30 scrip SENSEX of Bombay Stock Exchange opening on a 181.85 point hight at 10,763.34, though the Nifty of National stock Exchange had a slender 0.25 point defecitit at 3269.05 points. Measures to raise domestic institutional participation in the equities saw Sensex soaring by 205.44 points in early trade.
The BSE Mid-Cap index was up 1.55 pc at 3,713.96, while the BSE Small-Cap index was up 1.36 pc at 4,344.63. The market breadth was positive. On BSE, 909 shares advanced as compared to 512 that declined.
Oil refiner Reliance Industries rose 1.47 pc to Rs 1,417.80. The Bombay High Court yesterday questioned the government about its locus standi in the legal tussle between Reliance Industries and Reliance Natural Resources over supply of gas from the former's Krishna Godavari basin to the latter's proposed power plant at Dadri in Uttar Pradesh. This came after the government sought to be a party to the case. The government counsel will present his case today.
All the stocks from the index were in the positive terrain.
Satyam rose 1.26 pc followed by Wipro at 2.74 pc to Rs 286, Tata Consultancy Services also advanced by 2.36 pc to Rs 506.90 and Infosys shot up by 1.7 pc to Rs 1,288.20 and Hindustan Construction Company surged 5.11 pc.
Jet Airways advanced 1.16 pc after the company decided to reinstate 1900 sacked flight attendants following protests in cities and demands for a probe by politicians.
Hindustan Petroleum Corporation improved 0.37 pc after it formed a subsidiary for cultivation of Jatropha plants for production of bio-diesel.
The major loser from the sensex were Sterlite Industries down 5.73 pc to Rs 281.50, ICICI Bank by 3.76 pc to Rs 399.40 and State Bank of India by 1.81 pc to Rs 1,514.05) were the major losers from the Sensex pack.
Asian markets' trading was mixed today, as China's Shanghai Composite, Japan's Nikkei, Hong Kong's Hang Seng, Singapore's Straits Times, rose between 0.25 pc to 2.37 pc.