Sensex ends lower; banks, realty top losers

Mumbai, Jan 15: Equities ended sharply lower on Thursday as investors booked profits and created fresh short positions as global economic concerns took centre stage.

Bombay Stock Exchange"s Sensex closed at 9,055.06, down 315.43 points or 3.37 per cent. The index touched an intra-day low of 8946.62 and high of 9123.78.

National Stock Exchange"s Nifty ended at 2743.75, down 3.23 per cent or 91.55 points. The broader index touched a low of and high of 2832.30 during the day.

BSE Midcap Index was 1.72 per cent down and BSE Smallcap Index slipped 2.04 per cent.
National Stock Exchange"s Nifty ended at 2743.75, down 3.23 per cent or 91.55 points. The broader index touched a low of and high of 2832.30 during the day.
BSE Midcap Index was 1.72 per cent down and BSE Smallcap Index slipped 2.04 per cent.
4.22 PM

Sensex down; ICICI Bank, JP Associates top losers
Markets continued to reel under selling pressure as institutions offloaded positions following bleak economic health in the US after retail sales data dropped more than expected and Canada based Nortel filed for bankruptcy.

Worst hit were the banking, IT, metals and realty stocks which had seen a run-up in the past few sessions. Markets also shrugged off easing inflation which fell to 5.24 per cent in week ended Jan 3 from 5.91 per cent a week before.

At 12:50 pm, Bombay Stock Exchange"s Sensex was at 9045.57, down 324.92 points or 3.47 per cent. The index touched an intra-day low of 8951.35 and high of 9098.08.

National Stock Exchange"s Nifty was at 2744.70, down 3.20 per cent or 90.60 points. The broader index touched an intra-day low of 2701.75 and high of 2832.30.
2.21 PM

Sensex shrugs off inflation; banks, realty down

Fall in domestic inflation had no impact on the markets, as concerned traders squared off positions on fears deteriorating global macro economic outlook.

India's wholesale price index rose 5.24 per cent in the 12 months to Jan 3, below the previous week's annual rise of 5.91 percent.

Benchmarks continued with its downward march led by fall in banks, realty and IT stocks. Second rung stocks were less impacted of the on-going correction.

At 11:18 am, Bombay Stock Exchange"s Sensex was at 8977.85, down 392.64 points or 4.19 per cent. The index touched low of 8951.50 and high of 9098.08.

National Stock Exchange"s Nifty was at 2722.65, down 112.65 points or 3.97 per cent. The broader index hit an intra-day low of 2701.75 and high of 2832.30.
11.49 AM

Equities tumble; Sensex, Nifty down 3 pc
Equities opened sharply lower on Thursday, Jan 15 dragged down by weak overseas markets. All sectoral indices took a sharp hit with realty and IT BSE stocks leading declines. Bombay Stock Exchange"s 30-share Sensex plummeted 377.39 points to 8993. National Stock Exchange"s benchmark Nifty slumped 119 points to 2719 from Wednesday"s , Jan 14 close.

Nortel Networks Corp, North America's biggest telephone equipment maker, filed for bankruptcy on Wednesday, hoping to save a once highflying business whose decade-long decline has accelerated with the global economic crisis. The filing marks a crucial stage in the slow deterioration of one of Canada's most prominent companies.

However, the bankruptcy filing of networking vendor Nortel is expected to have only a marginal impact on Indian IT companies. The telecom giant is a long-time outsourcer to Indian service providers. The top three Indian IT service providers - Tata Consultancy Services, Infosys Technologies and Wipro — as well as a few smaller firms like Sasken Technologies are vendors to Nortel. TCS, which is set to announce its third quarter results on Thursday, said its exposure to Nortel was very minimal and less than 1 per cent of its revenue.