Mumbai, Nov 3: The Nifty saw a sharp sell-off and slipped towards the 4,500 level. Weak global cues hammered the equity benchmarks. High beta stocks were hit down badly.
All the sectoral indices ended in the red. The BSE Realty Index crashed pc. Metal, oil & gas, power, technology and FMCG stocks also cracked, respective indices fell 3-6 pc.
The Sensex closed at 15,337, down 559 points and the Nifty lost 147 points to 4,563, as per provisional data.
Nifty consolidates; Bajaj, Bharti up
At 12:30 pm, the Nifty was consolidating at current levels and both the equity benchmarks were hovering at their previous closing values.
The Sensex was up just 11 points at 15,907 and the Nifty gained 1 point at 4,712. The market breadth was weak; about 416 shares advanced while 836 shares declined on the NSE.
Bharti Airtel surged 4.5 pc and ICICI Bank rose over 3 pc. Capital goods, Auto, oil & gas (barring RIL), pharma and select banking stocks were seeing buying interest.
In the largecaps, Suzlon Energy plunged over 9 pc on disappointing numbers. Reliance Communication, Hindalco, ABB and DLF fell 4.5-5 pc. Reliance Infrastructure slipped 2.5 pc.
In the midcap space, Bajaj Hindusthan surged 8.43 pc while Balrampur Chini lost 6.5 pc.
In the smallcap space, Hawkins Cooker surged over 18 pc and Mukand was up 12 pc. Bliss GVS and Savita Oil Tech gained 6.5-8 pc. However, Genus Power, Gwalior Chemical, Shanthi Gears, Godawari Power and Prime Securities slipped 8-12 pc.
Sensex in green; Bharti, ITC, ICICI gain
At 10:57 am, the Sensex turned into the green and was witnessing volatility. Bharti Airtel, ITC and ICICI Bank were supportive, gained 1.7-2.3 pc
The Sensex was up 19 points at 15,915 and the Nifty gained just 2 points to 4,713. However, the broader indices were down.
The BSE Midcap Index fell 0.4 pc and the Smallcap Index lost 1 pc. About 1,122 shares advanced while 1,773 shares declined on the BSE. Nearly 868 shares were unchanged.
In the midcap space, Bajaj Hindusthan shot up 8 pc. Jain Irrigation, Ashok Leyland, Nirma and BEML were up 3-3.8 pc while Balrampur Chini lost 7 pc.
In the smallcap space Disa India, Mukand and Hawkins Cooker jumped 12-14.5 pc. Sanghi Industries rose 8.6 pc.
However, Genus Power, Godawari Power, Sanwaria Agro, Gwalior Chemical and Shanthi Gears declined 9-13 pc.
Nifty trading below 4700; ACC, ICICI dip
The Nifty opened lower and was trading below the 4,700 mark. The markets were reacting to Friday's Oct 30 fall of 250 points in the US markets on sell-off in financial stocks, as our markets were closed on Monday, Nov 2.
At 9:56 am, the Sensex was down 94 points at 15,801 and the Nifty declined 30 points to 4,681. The CNX Midcap slipped 23 points to 6,556. About 262 shares advanced while 450 shares declined on the NSE.
Among the frontliners, Suzlon, Reliance Communications, Hindalco, Idea Cellular, Unitech and Hindustan Unilever were under pressure.
ACC, Cipla, Reliance Power, ABB, ICICI Bank, SBI and Jindal Steel were other the losers. However, ONGC, SAIL, Jaiprakash Associates, Ranbaxy, Infosys and HDFC capped the losses to some exent.
Ashok Leyland, Tata Motors and Maruti gained 1-2 pc on good auto sales numbers for Oct 2009.
Asian markets were trading mixed. Shanghai was up 1.3 pc while Hang Seng and Kospi fell 0.5-0.8 pc. Straits Times and Taiwan Weighted were flat.