Continual sell off drags Sensex below 17k mark
Mumbai, Dec 15: Sell off in capital goods, telecom, auto, oil & gas, power and cement stocks plunge the Sensex into the red forcing it to shut shop below the 17,000 mark.
The
30-share
BSE
Sensex
shut
shop
at
16,877.16,
down
220.39
points
or
1.29
per
cent
and
the
50-share
NSE
Nifty
shed
72.65
points
or
1.42
per
cent,
to
end
at
5033.05.
The
broader
indices
declined
1.4
to
1.56
per
cent.
Weak advance tax numbers hit the banking stocks, which were the major losers for the day.
Ending 1.4 per cent lower, index heavyweight Reliance Industries (RIL) put pressure on the markets.
Infosys,
Cipla,
NTPC,
ITC,
Hindalco,
SAIL
and
Tata
Steel
were
the
only
gainers.
4:35
PM
Benchmarks volatile, broader indices in red
Selling in banking & financial, oil & gas, telecom, auto, power and cement stocks continues to plague Sensex. At 1: 55 pm, the BSE Sensex shed 106 points to 16,991 and the Nifty was down 38 points to 5,067.
While the broader indices slipped into the red, benchmarks continues to trade amid volatility.
Index Heavyweight Reliance Industries (RIL) was down over 1 per cent.
However, buying in metal, FMCG and technology stocks along with DLF, Cipla, NTPC capped the losses to some extent.
While Reliance Communications, ICICI Bank, SBI, BHEL, Tata Motors, IDFC and Axis Bank lost 2 to 4 per cent, Hindalco, ITC, Tata Steel, M&M, HUL, Cipla and SAIL were up by 0.75 to 1.8 per cent.
In the midcap space, Essar Shipping, Shree Renuka, Bajaj Holdings, GMDC and HT Media were up 3 to 4 per cent. The losers were Andhra Bank, Pantaloon Retail, BF Utilities, Balrampur Chini and Allahabad Bank fell 3.5 to 4 per cent.
The
smallcap
gainers
were
Arshiya
International,
HEG,
Cambridge
Solutions,
Greenply
Industries
and
NIIT
Tech
up
7
to
14
per
cent
while
Solvay
Pharma,
Ruchinfra,
Kolte-Patil,
Hindustan
National
Glass
and
Kwality
Dairy
lost
5
to
10
per
cent.
2:36
PM
Sensex volatile & rangebound; broader indices flat
Sensex is volatile and rangebound as banking & financial, telecom and select auto stocks reel under selling pressure.
At 11: 58, the BSE Sensex was trading at 17,065, down 32 points and NSE Nifty was at 5,093, down 12 points. The broader indices were trading flat.
BHEL, ACC, DLF, Suzlon, Tata Power and BPCL were also the losers.
However, on the positive side buying continued in technology, metal, FMCG and pharma stocks while Reliance Industries, L&T, NTPC, Siemens, ABB and M&M gained.
Among the banking stocks, Bank of Baroda, SBI and PNB slipped 1.8% each. ICICI Bank and HDFC Bank fell 0.65% each. Axis Bank dipped 0.24 per cent.
In the telecom space, Reliance Communications, Bharti Airtel and Idea Cellular declined 1 to 2 per cent in the telecom pack. MTNL and Tata Teleservices fell 0.4 per cent each.
In the auto arena, Bajaj Auto slipped 1.81 per cent, Tata Motors, Maruti Suzuki, Hero Honda, Ashok Leyland and Apollo Tyres were down 0.4 to 0.7 per cent.
Among the midcaps, Asian Star, Essar Shipping, Dishman Pharma, IndusInd Bank and Godrej Consumer gained 3 to 5.7 per cent while Balrampur Chini, Allahabad Bank, J&K Bank, Oriental Bank and Blue Dart slipped 2.4 to 3 per cent.
The
smallcap
gainers
were
Arshiya
International,
HEG,
Cambridge
Solutions,
ABG
Shipyard
and
RSWM
up
7.7
to
12.7
per
cent.
The
losers
were
Ruch
Infra,
Solvay
Pharma,
Kwality
Dairy,
Nucleus
Software
and
Kolte-Patil
down
4
to
5.6
per
cent.
12:
44
PM
Sensex gains 60 pts; metal, telecom, power up
The markets that suffered the news of higher-than-expected Inflation rate and other undesirable trends across the world for the past few days is slowly bouncing back.
At 9:56 am, the NSE Nifty gained 13 points to 5,118 and BSE Sensex rose 60 points to 17,158. The CNX Midcap was up 34 points to 7,303.
Sensex still in consolidation mode.
Metal, telecom, power, realty and pharma stocks were seeing buying interest.
On good advance tax numbres, M&M, Tata Steel, Hindalco and Tata Motors were the early frontline gainers.
Grasim Ambuja Cements, DLF, SAIL, Cipla, Hero Honda, Ranbaxy Labs, ACC and Reliance Infrastructure were the other gainers.
The early losers were BPCL, Idea Cellular, ONGC, SBI, ITC and Sun Pharma.
The midcaps gainers were Rama Newsprint up 2.5 per cent, Orchid Chemical and Suven Life up 3 to 3.5 per cent, Glenmark up 1.5 per cent, IndusInd Bank up 3.5 per cent, Prism Cement, GVK Power, GMR Infra and Nagarjuna Construction were up over 1 per cent.
Yes Bank and City Union Bank also were trading in green,
However, Kolte-Patil and Cox & Kings slipped 2 per cent on profit booking.
While
Asian
markets
were
quiet
in
trade,
the
US
markets
ended
previous
session
on
a
14-month
high.
10:
16
AM
OneIndia News