Mkts ends lower; Sensex 102 pts down
Mumbai, Dec 9: The Sensex ended at 17,123, down 102 points and the Nifty was down 35 points at 5,112 owing to negative global cues.
Selling in metal, banking & financial, FMCG and power stocks, and heavyweight Reliance Industries put pressure on the market, while buying in technology, pharma, select auto and telecom stocks capped the losses to major extent.
The BSE Smallcap Index surged 0.4pc and outperformed other indices. Midcap Index, on the other hand declined 0.6pc.
In the auot segment, Maruti Suzuki gained 3pc.
Banking stocks witnessed sell-off mainly due to interest rate war-waged between the major private banks like ICICI Bank and Kotak Mahindra Bank on home loan schemes.
Bank
of
Baroda,
Axis
Bank,
ICICI
Bank
and
Kotak
Mahindra
fell
2
to
4pc.
HDFC
Bank
slipped
1.37pc
PNB
and
SBI
fell
0.6pc
each
4:30
PM
Metal, banks, realty, oil& gas dip
At 1:15 pm Sensex dipped 101.90 points or 0.59% at 17125.78, and the Nifty was down 38.20 points or 0.74% at 5109.75.
Heavy selling in metal, banks, Oil&Gas, realty stocks continued to put pressure on the market, while buying was seen in auto and IT stocks.
In the largecap space, Tata Steel, Sterlite Industries, Hindalco and SAIL slipped 2 to 3pc.Axis Bank with 2.35pc loss beacme one of the top loser in the Nifty.
Auto stocks were the gainers with Maruti Suzuki and Hero Honda up 2.5pc and 1.75pc respectively.
Idea Cellular, Ranbaxy Labs and HCL Tech surged 1.3 to 1.5pc.
Volkswagen, Suzuki signs framework agreement in Tokyo, according to which Volkswagen will buy 19.9pc stake in Suzuki Motors.
Suzuki Motors which closes deal in Jan 2010 will hold 54% stake in Maruti Suzuki.
The top gainers in BSE Midcap space were KGN Industries, Nirma, Spice Communication,Peninsula Land and Motherson Sumi, while top losers were IndusInd Bank, REI Six Ten, Indiabulls, Shriram Transport Finance and Jai Corp
In
BSE
Smallcap
space,
Kernex
Micro,
Ador
Welding,
Sanghi
Inds,
Savita
Oil
Tech
and
GRUH
Finance
up
10
to
20pc
were
the
top
gainers,
while
NDTV,
Varun
Industries,
Maharashtra
Ele,
HeidelbergCement
and
MarathonNextgen
down
4
to
5pc
were
the
losers.
2:45
PM
Nifty consolidates; metal, pharma, tech gains
At 11:09 am Sensex plunged 20 points at 17,207 and the Nifty fell just 7 points to 5,140 and was consolidating.
Selling in banking, FMCG, metal and power stocks and heavyweight Reliance Industries put pressure on the market. But buying interest in pharma, capital goods, auto and select technology stocks including ONGC capped the losses to some extent.
Among the largecap, Ranbaxy Labs, Hero Honda, HCL Tech, Cipla, Sun Pharma, DLF, TCS and Wipro surged 1 to 2pc.
On the other hand, Sterlite Industries, Tata Steel, HDFC, Axis Bank, Reliance Infrastructure and Hindalco fell 0.9 to 2pc.
Suzlon was up 1pc after clinching 31.5 MW order from Rajasthan State Mines.
In the oil space HPCL was up 1pc, IOC rose 0.4pc while BPCL fell just 0.2pc.
In BSE Midcaps, top gainers, Spice Communication, KGN Industries, Peninsula Land, BF Utilities and Reliance Media were up 3 to 5pc.
BSE Midcaps top losers were IndusInd Bank, Simplex Infra, Shriram TransFi, Thomas Cook and Shree Cements down 1 to 3pc.
In
BSE
Smallcaps
top
gainers
include
Kernex
Micro,
GRUH
Finance,
Savita
Oil
Tech,
Sanghi
Industries
and
Nucleus
Software
were
up
6
to
17pc
while
KPR
Mill,
Maharashtra
Ele,
Manaksia,
NDTV
and
NRB
Bearings
down
3
to
5pc
were
the
top
losers.
12:30
PM
Sensex
declines
95
pts;
Reliance
Media
World
dips
Sensex
retreated
on
the
opening
day
due
to
weak
global
points.
At
9:56
am,
Nifty
lost
28
points
to
5,119
and
Sensex
was
down
95
points
to
17,132.
Among the frontliners losers in the early trade were Sterlite Industries, SAIL, Tata Steel, Cairn, Unitech, Jaiprakash Associates, Reliance Infrastructure, Reliance Industries, SBI, HDFC, ICICI Bank and DLF.
HCL which clinched five year multi-million pounds contract from News International gained 1.3 pc.
Buying interest was seen in BPCL, Ranbaxy Labs, Cipla and Sun Pharma.
In the midcap space, Karnex Micro rallied 10pc, Dena Bank and Essar Oil were up 1.5pc each, Mahindra Forgings surged another 6pc, Alok Industries rose 1.6pc, Time Technoplast was up 4.6pc, Astec Life was up 1.5pc and Hotel Leela was up 1.4pc.
Losers among the midcap space were Manaksia declined 1 pc and Reliance Media World fell for the consecutive days to 2.8pc.
Gammon
Infrastructure
which
was
the
gainer
when
the
market
closed
on
Dec
8,
delcined
1.7
pc.
10:
48
AM
OneIndia News