Sell-off plunges the markets into closing in red
Mumbai, Jan 25: Sell-off along with weak global cues weighed on the markets throughout the session.
Private banking, metal, technology, auto, realty and cement stocks were under pressure forcing the Nifty to see a downtrend for the fifth consecutive session.
On the positive side, buying was seen in FMCG and capital goods stocks, while Bharti Airtel, NTPC, ONGC, SBI and Sun Pharma were among the other top gainers. This capped the losses marginally.
BSE
Sensex
ended
the
day
at
16,780.46,
down
79.22
points
while
NSE
Nifty
shut
shop
at
5007.90,
down
28.10
points.
4:
07
PM
Nifty
continues
downtrend;
IT,
realty,
auto
down
While
buying
in
n
capital
goods
and
FMCG
stocks
along
with
Bharti
Airtel,
SBI,
NTPC,
Maruti,
Jindal
Steel,
Sun
Pharma
and
Idea
helped
Nifty
recover
half
of
mornings
losses,
the
benchmark
continued
its
southbound
trade
on
sell
off
in
IT,
private
banking,
realty,
cement,
power,
metal
and
auto
companies' shares
along
with
Reliance
Industries.
At 1: 44 pm, BSE Sensex was at 16786, down 72 points and NSE Nifty was trading at 5,005, down 30 points.
Weak Asian and European cues continued to haunt the markets.
The most active shares on the trade were Jai Corp, Hindustan Copper, Rashtriya Chemical, Walchandnagar, Tata Steel, Reliance Industries, Hindalco and L&T.
While L&T, ABB and Siemens gained 0.8 to 1.5 per cent, HUL surged 2 per cent and ITC went up 1.1 per cent among FMGC stock.
Jai
Corp
up
14.35
per
cent
was
the
top
gainer
among
the
midcap
s.
Jet
Airways,
Rei
Agro,
HT
Media
and
Puravankara
Projects
up
3.5
to
5
per
cent
were
the
other
midcap
gainers.
The midcap losers were Mcleod Russel, Dish TV India, Havells India, REI Six Ten and Gujarat Flourochem down 5 to 7 per cent.
Sical
Logistics,
BAG
Films,
Spectacle
Industries,
Kwality
Dairy
and
English
India
Cla
up
8
to
12
per
cent
gained
in
the
smallcap
arena
while
Timken,
Prime
Securities,
Nagarjuna
Agric,
Lok
Housing
and
Richa
Industries
shed
5
to
5.5
per
cent.
2:
38
PM
Benchmarks
reel
under
-ve
Asian
cues,
sell-off
Nifty
continued
to
suffer
the
sell-off
in
private
banking,
technology,
realty,
cement,
power,
oil
&
gas
and
metal
companies' shares
and
is
hovering
around
the
5k
mark.
Both the benchmarks were hit by the negative Asian cues.
At 11: 40 am, BSE Sensex was trading at 16,778, down 81 points and NSE Nifty was at 5,004, down 31 points.
Among the largecaps, HCL Tech down 5.3 per cent, Suzlon Energy, Jaiprakash Associates, Ambuja Cements, Infosys, HDFC Bank, Tata Steel and DLF down 1.8 to 2.8 per cent were the top gainers.
The gainers among the midcaps were Jai Corp up 13.7 per cent, Puravankara Projects, Ispat Industries, Carborundum and Shriram City up 3.3 to 3.8 per cent while the losers were Dish TV India, Mcleod Russel, Gujarat Flourochem, Havells India and KGN Industries down 5 to 6.7 per cent.
In the smallcap arena, the gainers were BAG Films, VIP Industries, Kwality Dairy, Walchandnagar and Marathon Nextgen up 6.5 to 9 per cent.
The
smallcap
losers
were
Lok
Housing,
Richa
Industries,
OCL
Iron,
Aditya
Birla
and
Entegra
down
4.5
to
5
per
cent.
12:
22
PM
Mkts
open
in
red
on
weak
global
cues
and
sell-off
On
weak
global
cues,
Nifty
opened
the
day
on
a
weak
note
slipping
below
the
5k
mark
in
early
trade.
Sell off continued for the fifth session with technology, banking, metal, realty and power stocks along with heavyweight Reliance Industries reeling under pressure.
However, FMCG and select cement stocks were trading in the positive territority.
At 9:02 hours IST, BSE Sensex was trading at 16,787, down 72 points and BSE Nifty was at 5,008, down 27 points.
The CNX Midcap shed 24 points to 7,450.
HCL Tech lost 5 per cent on disappointing Q2 numbers.
HDFC Bank, Infosys, Ambuja Cements, Sun Pharma, Wipro, Cairn, Axis Bank, Siemens, Power Grid, TCS, Hero Honda (ahead of numbers) and Sterlite Industries (ahead of numbers) were the other frontline losers.
On the positive side, buying interest was seen in Maruti (up 1.6 per cent on good numbers), L&T, Grasim, Idea Cellular, NTPC, ITC and SBI.
In the midcap and smallcap arena, Crompton Greaves surged 4 per cent as it considers bonus issue. On good numbers, Ispat Industries gained 3 per cent.
Tech Mahindra fell 7 per cent post Q3 numbers. NMDC lost 1 per cent. Punj Lloyd fell 1.7 per cent on disappointing numbers.
KCP
sugar,
Shree
Renuka
Sugars,
Bajaj
Hindusthan,
Jay
Shree
Tea
and
Mcleod
Russel
were
the
early
losers.
9:
34
AM
OneIndia News