Sensex closes lowest since Nov 2005

Posted By: Staff
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Mumbai, Mar 5: Selling pressure continued in banking stocks for the second day in a row. The Nifty weightage stocks like Reliance Industries slipped as its Jan crude processing was down 12.1 per cent and ONGC lost ground post Goldman Sachs downgrade report. Pharma major Ranbaxy Labs plunged 10 per cent on Australian Pharma Regulator probe report.

It was a lowest closing for the 30-share BSE Sensex since Nov 2005. It has touched an intraday low of 8,166.97, before closing the day at 8,197.92, down 248.57 points or 2.94 per cent. The 50-share NSE Nifty shut shop at 2576.70, down 2.59 per cent or 68.50 points, after hitting a day's low of 2564.10.
4:22 PM

Nifty bounces back from lows; HUL down

Indian benchmarks were under pressure on Thursday as investors booked profits after the Reserve Bank of India cut interest rates. All the sectoral indices were in the red led by losses in FMCG and oil&gas stocks. Rate sensitive gave away all of their intra-day gains.

At 12:45 pm, National Stock Exchange"s Nifty was at 2609.40, down 35.8 points or 1.35 per cent. The index fell below 2600 mark to touch an intra-day low of 2586.80. It touched a high of 2663.90.

Bombay Stock Exchange"s Sensex was at 8248.37, down 198.12 points or 2.35 per cent. The broader index touched a low 8230.29 and high of 8535.03.

BSE Midcap Index was down 0.79 per cent and BSE Smallcap Index fell 0.78 per cent. In the 50-share index, Ranbaxy Laboratories (-9.9pc), Reliance Industries (-4.1pc), Hindustan Unilever (-3.88pc), ITC (-3.71pc) and Reliance Petroleum (-3.64pc) were under severe pressure.
2.24 PM

Benchmark Indices undergoing losses

The benchmark indices are still undergoing losses. Sell-off in oil & gas, financial (except HDFC Bank), telecom (barring Reliance Communication), capital goods and select power stocks. Buying seen in realty, metal stocks, TCS, Cairn India, Sun Pharma, Tata Motors and Hero Honda.

The Sensex was trading at 8,360, down 85 points and the Nifty was at 2,621, down 24 points, at 11:02 hours IST. Broader indices like BSE Midcap and Small cap indices were marginally higher. The Nifty futures were trading with 20-25 points discount.
11:57 PM

Volatility in markets; banking, auto gaining

Volatility prevail in markets as ONGC, NTPC, Reliance Industries, BHEL, Bharti, HDFC, Tata Power, BPCL and Ranbaxy Labs are pressurising benchmark indices.

However, support is gathered from banking, auto, realty and metal stocks as well as TCS, Wipro and Reliance Communication.

The Sensex was trading at 8,415, down 30 points and the Nifty was at 2,633, down 11 points, at 10:24 hours IST. However, BSE Midcap and Small cap indices gained 0.5 per cent each. Nifty futures were trading with 20-25 points discount.

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