Lack of rain troubles mkts; Sensex down 353 pts
Mumbai, Aug 7: The continual sell off weighed on the markets for the second consecutive day. The 30-share BSE Sensex tumbled 353.79 points or 2.28 per cent, to settle at 15,160.24 and the 50-share NSE Nifty shut shop at 4481.40, down 2.27 per cent or 104.10 points. The broader indices also declined around 2 per cent each.
All sectoral indices ended in the red. The BSE Auto Index plummeted nearly 3.9 per cent.
According to experts, sell off was being led by monsoon concerns, fall in commodities' prices in the international markets, and weak global cues. Out of all the adverse factors, the rainfalls which are below 64 per cent the normal level is the biggest concern.
Mkts trading low; SBI, BHEL, ICICI lose
At 2:30 pm, BSE Sensex was at 15,254.68, down 259.35 and NSE Nifty was at 4512.00, down 73.50. Selling in banking, auto, FMCG, realty, telecom, infrastructure and metal stocks weighed on the Sensex. And the 0.5 to 1 per cent fall in European markets adversely affected both the benchmarks.
SBI, BHEL, Reliance Communication, ICICI Bank, Maruti, DLF, Tata Power, M&M, Idea and Unitech slipped 3 to 5 per cent. Reliance Industries, Bharti, HUL, SAIL, Infosys, Sterlite, L&T, ITC and HDFC Bank dipped 1 to 2 per cent. Only six stocks: Wipro, NTPC, GAIL, Tata Steel, BPCL and Power Grid were trading in the green.
The top gainers were Pioneer Distilleries, Prism Cement, GMM Pfaudler, Barak Vally Cement, Seax Global Venture, Asian Granito, Nitin Fire Protection and Sun Pharma Advanced while Gangotri Iron, Anant Raj Industries, Amrit Banaspati, Fenoplast, IST, Lakshmi Precision, Excel, United Spirits and Jindal Photo lost.
Nifty slips; ICICI, Infy, SBI, BHEL, HUL drag
After BSE Sensex, NSE Nifty too is slipping. At 10: 41 am, the Sensex was down 89.69 points at 15424.34, and the Nifty down 26.05 points at 4552.45.
Selling was seen in Auto, FMCG, banks and power stocks. Apart from this Reliance, Infosys, ICICI Bank, SBI, BHEL and HUL were the negative contributors.
On Nifty, Maruti Suzuki down 2.46 per cent, M&M down 2.02 per cent, Hero Honda down 1.95 per cent, Sterlite Ind down 1.64 per cent and HUL down 1.61 per cent were the top losers.
The top gainers were Sun Pharma up 1.68 per cent, ONGC up 1.66 per cent, Wipro up 1.50 per cent, Grasim up 0.68 per cent Cipla up 0.51 per cent.
Among the midcaps, Kansai Nerolac, Birla Corp, Pantaloon Ret, Jubilant Org and Anant Raj Ind were the losers while Mercator Lines, Marg and TVS Motor lost in smallcaps.
Sensex in the red; Tata Motors, M&M, DLF down
Sensex that opened with a gap quickly recovered. At 10 am, the BSE Sensex was at 15,419.19, down 94.84 and NSE Nifty was at 4564.05, down 21.45.
While the losers in the early trade were M&M, Hero Honda, Tata Motors, Maruti Suzuki, Tata Steel, Sterlite Ind, Hindalco, Nalco, Suzlon, DLF and ICICI Bank; ITC, Sun Pharma, Grasim and ONGC opened positive.
Asian markets were trading lower.