Heavy sell off: Markets end lower
Mumbai, May 20: From the highly volatile trading in Monday, May 18, the benchmark indices retreated on the back of profit booking in telecom, oil & gas and private financial stocks. However the broader indices continued its gains for the third consecutive day.
The 30-share BSE Sensex slipped below the 14,000 mark and touched an intraday low of 13,976.49, before closing the day 241.37 points or 1.69 pc lower at 14,060.66. The 50-share NSE Nifty dropped below 4300 level and touched a low of 4244.70; it ended at 4270.30, down 1.11 pc or 48.15 points.
Bharti
Airtel,
BHEL,
ICICI
Bank,
HDFC,
DLF
and
Reliance
Capital,
Reliance
Industries,
Reliance
Petroleum,
ITC,
Reliance
Communication,
HDFC
Bank
and
Infosys
were
the
major
contributors
for
Wednesday,
May
20
sell
off.
04:45
PM
Markets in red; Heavyweights plunge
Huge loss suffered by the heavyweights like Reliance Industries, Bharti, BHEL, ICICI Bank, HDFC, DLF, Infosys, HDFC Bank, Reliance Communication and Sun Pharma led the markets southward.
The Sensex was trading at 13,999, down 302 points and the Nifty declined 66 points, to 4,251, at 14:57 hours IST. However, the BSE Midcap Index was up 5 pc and the Smallcap Index gained 8 pc.
Markets
are
witnessing
huge
selling
pressure.
However
the
market
breadth
was
strong.
About
2395
shares
advanced
while
394
shares
declined.
Nearly
333
shares
were
unchanged.
03:20
PM
Mkts still volatile, buying in metal, power, auto
At 11:24 AM Sensex was trading at 14,367, up 65 points and the Nifty rose 33 points, to 4,35. Even though the benchmark indices gained strength they were still volatile.
Buying was seen in shares of metal, power, auto, technology, oil marketing and select capital goods companies while Bharti, BHEL, Reliance Communication, ICICI Bank, DLF, HDFC Bank, Sun Pharma, Idea and Reliance Industries witnessed selling.
Outperforming benchmark indices the BSE Midcap Index rose nearly 5 per cent and the Smallcap Index was up 6 per cent.
The gainers among the midcap stocks were Simplex Infra, Omaxe, Tulip Telecom, Hind Construction Company and JM Financial with a rise of 16 to 20 percent. In the smallcap arena, Everonn Systems, Transformers, UB Holdings, Dredging Corporation and Ruchi Soya gained 20 to 21 per cent.
The
most
active
shares
on
the
markets
were
Unitech,
DLF,
Lupin,
HDIL,
Tata
Steel,
Reliance
Industries,
ICICI
Bank
and
Bharti
Airtel.
The
market
breadth
is
growing
stronger.
About
2193
shares
advanced
while
494
shares
declined.
Nearly
434
shares
were
unchanged.
12:05
PM
Mkts
open
sharply
low,
HCL,
TCS,
Tata
steel
gain
The markets opened sharply lower and at 9:56 AM, the Sensex was trading at 14,232, down 69 points and the Nifty fell 16 points, to 4,302. However, CNX Midcap went up 1.7 per cent, to 4,827.
ICICI Bank, Unitech, Suzlon Energy, Siemens, Reliance Capital, Bharti, DLF, ONGC, Sterlite, Reliance Communication, BHEL and HUL saw selling pressure among the frontliners. While TCS, HCL Tech, Reliance Industries, L&T, Ranbaxy Labs, Hindalco, Ambuja Cements, Tata Steel, ABB, Tata Communications and Tata Motors gained.
In the midcap arena, IFCI, JP Associates, Indiabulls Real, Indiabulls Securities, Kingfisher, Praj Industries, Mercator Lines and Alok Industries gained over 5 per cent.
In
its
opening
session,
the
Sensex
fell
over
200
points,
and
Nifty
declined
over
50
points.
Markets
are
currently
volatile
10:35
AM
OneIndia News