Sensex crashes 85 points, closes at 13,072

Mumbai, Nov 8: The Sensex crashed by 84.15 points, closing at a low of 13,072 on the Bombay Stocks Exchange (BSE) today on sustained heavy bull liquidation by Foreign Institutional Investors'(FIIs) and local operators.

For the second consecutive day, market witnessed intense selling pressure, as profit-booking continued.

The BSE Sensex has surged higher at about 40 per cent during the calendar year.

The BSE 30-shares Sensex lost 84.15 points (0.64 per cent), to settle at 13,072.51. The market remained extremely volatile in the late-afternoon session, slipping to a low of 12,950.07.

However, it recovered later, as buying resumed at the lower level. The high for the day was 13,202.68, having oscillated around 253 points in volatile trade.

The BSE oil and gas index crashed by 124.55 and closed a low at 6141.06 while CD index also crashed by 121.33 and closed a low at 3198.04. Metal index also plummetted steeply by 120.24 to 9160.64.

CG, small cap and mid cap indicies also came down by 107.77, 80.25 and 66.26 points respectively.

Similarly, S&P CNX Nifty of NSE resumed low at 3,799.20. The Index day's high was quoted at 3,809.95 and low at 3,737.20.

Finally, the S&P CNX Nifty lost 24.40 points (0.64 per cent), to 3,774.35 during the closing session.

The market-breadth, which was positive in the opening session, turned negative as smallcap and midcap stocks were also sold. On BSE, there were close to 2 losers for every single gainer. Only 881 shares advanced, against 1,1628 that declined. Just 64 shares were unchanged. The BSE clocked a turnover of Rs 4,305 crore.

Among the 30-Sensex pack, 22 declined while the rest advanced, brokers said.

Japan's Nikkei slipped 1.08 per cent on Wednesday as investors sold Softbank Corp stock ahead of its earnings results, and due to caution, before the outcome of US congressional elections. The Nikkei lost 177.67 points, to end at 16,215.74. The Hang Seng index extended its fall and was down 128.07 points (0.68 per cent) at 18,811.24.

The Nasdaq Composite Index added 9.93 points (0.42 per cent), to close at 2,375.88.

Bike maker Hero Honda was the top loser, down by 3.77 per cent to Rs 715, on 2.16 lakh shares. TVS Motor was down by 5.16 per cent to Rs 102 and Bajaj Auto also eased by 3.55 per cent to Rs 2,625. Bank stocks witnessed rally from their lows, in the fag hours of trade. ICICI Bank was the top gainer, up 2 per cent to Rs 785. Software major Infosys advanced 1.07 per cent to Rs 2,125 on 4.52 lakh shares. It had surged to a 52-week high of Rs 2,151 in the early trade.

The scrip rose for the second day in a row after Infosys' shareholders on Tuesday approved an issue of up to 30 million sponsored American Depositary Receipts (ADRs). Following this news, Infosys' ADR rose 1.1 per cent to .26 on the Nasdaq on Tuesday. Index heavyweight Reliance Industries (RIL) slumped 2.93 per cent to Rs 1,252.50 on a volume of 22.32 lakh shares. It slipped to a low of Rs 1,240.30, while its high for the day is at Rs 1,295.

Tata Motors (down 2.36 per cent to Rs 799), Reliance Communications (down 1.82 per cent to Rs 380) and HDFC (down 2.88 per cent to Rs 1515) also slipped.

Hyderabad Industries surged 20 per cent to Rs 298, on a high volume of 6.90 lakh shares. Its low has been Rs 250.

UNI

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