Mumbai, Nov 26: Huge sell off across the sectors lead the benchmarks end the day lower. While the 30-share BSE Sensex ended the day at 16,854.93, down 344.02 points or 2 per cent and the 50-share NSE Nifty was down 102.60 points or 2.01 per cent, to close at 5005.55.
The weak global cues also weighed on the Indian equities. Banking, technology, metal and select FMCG stocks saw unwinding of positions.
Banking was the biggest loser with its corresponding index slipping 2.64 per cent. . ICICI Bank fell 3.74 per cent while Bank of Baroda, HDFC Bank, PNB and Axis Bank were down 1.7 to 3 per cent and SBI was down 3.01 per cent.
Among other metal stocks, NALCO, Jindal Steel, JSW Steel, Hindalco, Sterlite Industries, Sesa Goa and SAIL were down 1 to 4 per cent. Tata steel reported consolidated net loss of Rs 2,707 leading the stock to dip 3.34 per cent.
Gold touched an all-time high of 1195.39 dollars an ounce on Thursday, Nov 26, on weak dollar. The prescious metal, however, slipped after that to 1183.06/oz, down 0.33 per cent.
Mkts decline further on weak Asian cues
With the Asian markets declining further, Nifty continues to dwell in the negative zone and is trading amid volatility. At 1: 26 pm, the Nifty declined 30 points to 5,077 and the Sensex fell 97 points to 17,101. The broader indices were marginally down.
Banking stocks were the biggest losers for the day. While Union Bank, ICICI Bank and SBI were down 1.9 to 2.4 per cent, Bank of Baroda, HDFC Bank, IDBI Bank and PNB fell 1 to 1.4 per cent.
In the metal space, Tata Steel tanked 3.22 per cent, Jindal Steel slipped 1.33 per cent and Sesa Goa down 0.53 per cent. However, Hindalco, NALCO, Jindal Saw and Sterlite Industries were up 0.9 to 2.8 per cent.
Power stocks like GVK Power, GMR Infra, Power Grid Corp, Neyveli Lignite and Suzlon Energy, NTPC and Reliance Infrastructure slipped.
Tata Motors, L&T, ITC, Ranbaxy Labs, BPCL and Unitech were other losers.
Buying in telecom and cement stocks capped the losses to major extent. Hero Honda was the leader with over 3 per cent gain.
Reliance Communications and Idea Cellular were up 1.3 to 1.7 per cent in the telecom space. Bharti Airtel was up 0.7 per cent.
In the cement sector, ACC, Ambuja Cements and Grasim gained 1-2 per cent.
Among the midcaps, Bayer Cropscience, India Cements, Birla Corp, KGN Industries and Jet Airways were up 5 to 6 per cent while HOEC, Dena Bank, Vijaya Bank, Mcleod Russel and PTC India lost 4 to 6 per cent.
In the smallcap arena, Atlanta, TV TodayNetwork, Binani Industries, Graphite India and Money Matters gained 6 to 11 per cent while Allied Digital, Savita Oil Tech, Mercator Lines, Marathon Nextgen and Jindal Worldwide slipped 5 to 6.6 per cent.
2: 30 PM
Mkts trading with a negative bias on expiry day
On the expiry day, the markets continue to trade with a negative biase. At 12: 12 pm, the Sensex was down by 55.97 points or 0.33 per cent at 17142.98, and the Nifty down 21.10 points or 0.41 per cent at 5087.05.
Banks, FMCG, IT and capital goods were selling selling pressure. However, buying was seen in auto and metal stocks.
While the BSE Midcap index was trading with positive bias, the BSE Smallcap index was in the red.
Chinese banks plunged on concerns of capital raising to meet the growing loan requirements in turn taking the Indian banks deep down too.
Surging 3.48 per cent, Hindalco was the top gainer on the Nifty. Cement continued to support the markets and stocks like ACC, Ambuja Cements and Grasim rose 1.5 to 2 per cent. Sterlite Industries was up 1.4 per cent on the copper and zinc prices which hit multi-month highs.
Reeling in the negative zone were Tata Steel was down 2.35 per cent and Stocks like HCL Tech, Ranbaxy Labs, Reliance Capital and Jindal Steel which were down more than 1 per cent each.
On the BSE Midcap, Bayer Cropscience, EIH, India Cements, KGN Industries and Simplex Infra were up 5 to 6 per cent, while Dena Bank, Nagarjuna Construction, United Phosphorous, Vijaya Bank and Hindustan Oil Exploration were down 3 to 4 per cent.
The top gainers on the BSE Smallcap were Atlanta, Binani Industries, TV Today, HEG and Dalmia Cement up 6 to 12 per cent while Jindal Worldwide, Gee Kay Finance, Allied Digital, Swaraj Mazda and Shristi Infra were down 4 to 5 per cent.
12: 51 PM
Sensex opens to consolidation; metal, cement up
For the second day in a row, the Sensex opened the day on a negative note and was seeing consolidation ahead of F&O expiry. At 9:56 am, NSE Nifty was down 12 points at 5,095 and BSE Sensex shed 39 points to 17,159.
On the positive note, the CNX Midcap was up 13 points at 7,244.
Index heavyweight Reliance Industries was down 1 per cent as the stock went ex-bonus on Thursday, Nov 26. However, the markets were gaining support from the buying in metal stocks as the CRB Index gained 2.3 per cent. Cement stocks also surged.
ICICI Bank, HDFC Bank, Reliance Industries, NTPC, HDFC, Tata Steel, TCS, L&T, BHEL, HCL Tech, DLF, Unitech and Tata Steel were the frontline losers.
Mahindra Satyam lost another 7.5 per cent, after the 11 per cent dip in the previous session. Also slipping further was Tech Mahindra which dipped 4 per cent, after plunging fell 7 per cent on Wednesday, Nov 25.
Siemens was trading flat ahead of numbers.
The gainers were ACC, Sun Pharma, Hindalco, Ambuja Cements, PNB, Sterlite, Industries, SAIL, Axis Bank and Bharti Airtel.
The gainers among the midcaps were Heidelberg Cement up 4.5 per cent, Prism Cement up 4 per cent, India Cements was up 2 per cent, Edserv Soft up 5 per cent and KPIT Cummins up 3.7 per cent, and EIH was up 7.5 per cent. Newly listed Astec Life was up 1 per cent.
However, Dena Bank was on the negative side down 1 per cent.