Mkts end low, indices disregard +ve global cues
Mumbai, May 8: The 30-share BSE Sensex closed at 240.51 points or 1.98 per cent lower at 11,876.43. The 50-share NSE Nifty fell 1.72 per cent or 63.20 points, to settle at 3,620.70.
After the volatile first half, huge selling was seen in the second half of the session and the market ended sharply lower. However the global cues were positive in today's trade.
Rate sensitives, metal, technology, power, oil & gas and telecom sectors saw sell-off. The benchmark indices disregarded the positive global cues.
Wipro, ICICI Bank, BHEL, SBI, HDFC, Reliance Communication, Sterlite, Reliance Infrastructure and Tata Steel dipped 3 to 7 per cent. Reliance Industries, Bharti, ONGC, NTPC, HDFC Bank and Infosys fell 0.8 to 2.8 per cent.
Market
breadth
was
mixed.
About
1473
shares
advanced
while
1498
shares
declined.
Nearly
143
shares
remained
unchanged
on
the
BSE.
4:20
PM
Mkts
weak;
L&T,
ICICI,
Infy
weigh
on
Sensex
At
1:43
PM
The
Sensex
was
down
287.00
points
or
2.37
per
cent
at
11829.94,
and
the
Nifty
was
down
93.00
points
or
2.52
per
cent
at
3590.90.
The
BSE
midcap
and
smallcap
indices
were
down
0.81
per
cent
and
0.12
per
cent
respectively.
Markets
were
trading
weak.
Metal, bank, realty, IT, power, capital goods, auto and oil & gas stocks were witnessing selling pressure. Stocks like Reliance, Infosys, ICICI Bank, L&T and Bharti Airtel proved to be draggers on the Sensex. Out of the 30, HUL, ONGC and Sun Pharma were trading in green in Sensex.
Sterlite Ind at Rs 480.95 down by 7.05 per cent, Hindalco at Rs 66.65 down by 5.06 per cent, M&M at Rs 492.30 down by 4.66 per cent, Reliance Infra at Rs 772.90 down by 4.61 per cent and ICICI Bank at Rs 524.40 down by 4.5 per cent were the losers on Sensex.
Refinery major HPCL was down by 3.05 per cent and Tech major Infosys was down 2.41 per cent. Index biggie Relience was trading down 1.52 per cent.
Active shares were HDFC bank, Reliance, ICCI Bank, Tata Steel, and Rel Capital.
The
market
breadth
was
negative.
About
1291
shares
advanced,
1669
shares
declined,
and
153
shares
remained
unchanged.
2:16
PM
Mkts
dull
&
quiet,
buying
in
pharma,
oil,
cement
At
11:56
AM
the
Sensex
was
trading
at
12,098,
down
18
points
while
the
Nifty
was
up
just
2
points,
to
3,685.
The
BSE
Midcap
Index
was
up
1per
cent
and
the
Smallcap
Index
gained
1.9
per
cent.
Markets are comparitively dull and quiet with the indices moving around the previous closing values.
The markets gained support from buying in oil & gas exploration, pharma, cement, select power, and individual stocks like L&T, SAIL, DLF and Idea. However, the gains were capped by continuous sell-off in financials, Wipro, Sterlite, BHEL, Bharti, Hindalco, Maruti, Tata Motors and Reliance Infrastructure.
Inflation came in at 0.70 per cent for the week-ended Apr 25 as against 0.57 per cent.
Gainers
in
midstock
stocks
were
Kalpataru
Power,
KEC
International,
UTV
Software,
GMDC
and
TV18
with
7
to
11.5
per
cent
rise.
Provogue,
BL
Kashyap,
Bharati
Shipyard,
Anus
Labs
and
ABG
Shipyard
surged
15
to
17.7
per
cent
in
small
cap
space.
12:33
PM
Mkts
open
with
gains,
SAIL,
ONGC,
Tata
Steel
gain
At
9:57
AM,
the
Sensex
was
trading
at
12,144,
up
28
points
and
the
Nifty
was
up
13
points
at
3,697.
The
CNX
Midcap
went
up
24
points,
to
4,064.
Opening
with
gains,
the
markets
were
experiencing
volatility.
The gainers among the frontliners were Tata Steel, SAIL, ONGC, Cairn, Cipla, GAIL, DLF, Nalco, Suzlon, Reliance Communication and Idea Cellular, while HDFC Bank, Sterlite, Wipro, Hindalco, SBI, HCL Tech, Sterlite, Hindalco and ICICI Bank were loosing.
In
midcap
and
small
cap
space,
Bharti
Shipyard,
Great
Offshore,
Bharti
Shipyard,
United
Breweries
went
up.
In
metals,
JSW
Steel,
Ispat,
Bhushan
Steel
and
Gujarat
NRE
Coke
gained.Union
Bank,
Chambal
Fert,
Bajaj
Hindusthan
and
Godrej
Industries
were
seen
slipping.
10:27
AM
OneIndia News