Sensex closes lowest since Nov 2005
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.
OneIndia News