The markets reversed the four day up trend and took a sharp knock on the back of heavy selling seen in scrips across sectors.
The markets were range bound during the initial part of the day but came down significantly during the final hours of trade. The Sensex shaved off around 370 points and the Nifty slipped 107 points.
All the sectoral indices closed in red. 29 out of 30 Sensex stocks ended in red and 48 out of 50 Nifty stocks closed in the negative.
The BSE Sensex closed at 10,042.06 down 370.87 points.
The NSE Nifty closed at 2943 down 107 points.
The BSE Small Cap Index closed at 5,346.26, down 267 points.
The BSE Midcap Index ended at 4,276.92, down 190.16 points.
About 370 shares have advanced, 2002 shares declined, and 35 shares are unchanged.
The major losers on the indices were Tata Steel, Hindalco, Tata Motors, NTPC, SAIL and MTNL.
Market summary:
- Markets end lower amid lack of buying interest
- Sensex, Nifty down over 3.5% each
- BSE Metals index crash 7.05%, Mittal-Arcelor deal fail to cheer
- Tata Steel down 6.8% and Sail down 7.5%
- All sectoral indices end in the red
- BSE Capital Goods, Auto and PSU index down over 4%
- RIL down 2.5% ahead of the AGM on June 27, Oil & gas index down 3%
- Nearly 3% HDFC equity changed hands on BSE, stocks end 5.18% lower
- Total turnover at Rs 38855.07 cr
Metal stocks like Sterlite Ind, Hind Zinc, Jindal Steel, JindalStainless, Hindalco, Tata Steel and SAIL closed lower. The BSE Metal Index closed at 7,884.29, down 7.05%.
Capital goods stocks like Siemens, Ingersoll Rand, Alstom Projects, BEML, Bharat Electronics, SKF India and Carborundum also slipped. The BSE Capital Goods Index ended down 4.58% at 6,576.31.
Auto stocks like Hind Motors, Escorts, TVS Motor, Cummins, Tube Investment, Maruti Udyog and Tata Motors closed low. The BSE Auto Index closed at 4,469.53, down 4.25%.
The BSE Consumer Durables Index witnessed a of 3.52% to close at 2,680.16 due to Whirlpool, Titan Industries, Su-Raj Diamonds, BPL and Samtel Color.
The BSE Healthcare Index also closed down 3.45% at 3,094.34 amid selling in pharma stocks like FDC, Apollo Hospital, Matrix Lab, Orchid Chemical, Ranbaxy Labs and Lupin.
Technology stocks like i-Flex Solution, Mphasis, Satyam, TCS, Infosys and Moser Baer also plummeted. The BSE IT Index dropped 3.45% to end at 3,505.29.
Oil stocks including HPCL, Kochi Refinery, ONGC, BPCL and MRPL also tumbled. The BSE Oil & Gas Index ended at 4,987.01, down 3.02%.
FMCG stocks like Shaw Wallace, Nirma, McDowell, Nestle and ITC also ended in red.
The BSE FMCG Index closed at 1,812.56, down 2.98%.
The BSE Bankex also finished lower by 2.53% at 4,323.99 as selling was seen in Canara Bank, Bank of India, Union Bank, Bank of Baroda, Andhra Bank and UTI Bank.
The NSE cash turnover was at Rs 6100.94 crore and the NSE F&O turnover was at Rs 19183.63 crore. The BSE cash turnover was Rs 3832.35 crore. Total market wide turnover was at Rs 38855.07 crore.
F&O UPDATE
- Turnover At Rs 28921.78
- Nifty sees huge volumes of Rs 10,000 cr
- Nifty June Future at a 26 pts discount
- Nifty July futures at a 51 pts discount
- Nifty futures sees 29% rollover to july
- Top Traded :RIL,Tata Steel,Sterlite,IPCL,Hindalco,Guj Ambuja
- Ashok Ley adds 16 lakh shrs in July; Rollover at 39 %
- Essar oil adds 11 lakh shares; 42% rollover
- Hindalco adds 25 lakh shares in July; Rollover at 49%
- Gujarat Ambuja adds 24 lakh shares in July; Rollover at 25%
- MTNL adds 15 lakh shares in July; Rollover at 20%
- Tata Steel rollover at 19%,RIL rollover at 22%
Sensex @ 1510 hrs
The markets have further moved southwards on account of selling seen in scrips across sectors.
At 3:10 pm, the Sensex was down 386 points at 10,026 and the Nifty was trading at 2939 down 110 points.
Tata Steel, Hindalco, Tata Motors, Satyam, SAIL, MTNL, VSNL and BPCL were the top losers.
Tata Steel was quoting at Rs 504.00, down Rs 28.4, or 5.33%. SAIL was quoting at Rs 75.70, down Rs 6.1, or 7.46%.
Sterlite Industries was quoting at Rs 371.50, down Rs 34.35, or 8.46%. Hind Zinc was quoting at Rs 526.90, down Rs 57.85, or 9.89%
Sensex @ 1435 hrs
The markets have continued to witness selling pressure and have fallen deeper into the negative terrain.
At 2:35 pm, the BSE Sensex was trading at 10,193 down 219 points and the Nifty was down points at 2,984 down 65 points.
About 473 shares have advanced, 1835 shares declined, and 40 shares are unchanged.
All the sectoral indices continue to trade in negative terrain. Heavy selling is seen in metal, consumer durables and capital goods stocks.
The major laggards on the indices were Satyam, Tata Motors, Hindalco, NTPC, BPCL, MTNL, Zee and VSNL.
However, buying can be seen in stocks like HDFC Bank, Bharti Airtel, Dr Reddys Labs, Cipla and ABB.
Sensex @ 1325 hrs
The markets continued to trade weak as the sentiment is cautious ahead of the possible interest rate hike.
At 1:25 pm, the Sensex was trading at 10,328 down 84 points and the Nifty was trading at 3025 down 25 points.
About 557 shares have advanced, 1681 shares declined, and 50 shares are unchanged.
The major losers on the indices were Satyam, Hindalco, Tata Motors, Maruti Udyog, MTNL, BPCL, VSNL and Zee.
The major gainers on the indices were HDFC Bank, Cipla, Bharti Airtel, Reliance, ABB and Oriental Bank.
Hindustan Lever was trading at Rs 218.40 down 1.13%, Reliance was trading at Rs 1,012.10 up 0.53% and Infosys was trading at Rs 2,941.00 down 1.62%
Sensex @ 1224 hrs
The markets had moved in the green for few minutes and again slipped in the negative terrain.
At 12:24 pm, the Sensex is down 103.92 points or 1% at 10309.01, and the Nifty down 41.65 points or 1.37% at 3008.65.
Overall market breadth was neagtive, about 578 shares have advanced, 1575 shares declined, and 35 shares are unchanged.
All the sectoral indices were trading in red.
The BSE Metal index was down by 1.83% at 8327.17.
The BSE IT index was down by -1.8% at 3565.38.
The BSE Consumer Durables index was down by 1.76% at 2728.84.
The BSE Auto index was down by -1.48% at 4599.05.
The Bse Bankex was down by 1.36% at 4376.1.
The Bse Capital Goods index was down by 1.35% at 6799.01.
The Bse FMCG index was down by 1.1% at 1847.57.
The BSE OIL and Gas index was down by 0.37% at 5123.4.
The BSE Health Care index was down by 0.21% at 3198.18.
ICICI Bank, Wipro, TCS, Hero Honda, VSNL, Zee Tele and BPCL were top losers on the indices.
VSNL was quoting at Rs 356.40, down Rs 16.7, or 4.48% Zee Telefilms was quoting at Rs 224.10, down Rs 7.95, or 3.43%.
Top percentage losers on the BSE were Gulshan Poly at Rs 22.30 (19.93%), Rajendra Mech at Rs 30 (14.04%)
Sensex @ 1135 hrs
The markets are trading weak on account of selling pressure in select index pivotals.
At 11:35 pm, the BSE Sensex was trading at 10,390 down 22 points and the Nifty was trading at 3,044 down 6 points.
About 697 shares have advanced, 1165 shares declined, and 50 shares are unchanged. Apart from oil & gas and health care all the BSE indices were trading in red. The auto and IT stocks are witnessing significant selling pressure.
The major gainers on the indices were Cipla up 3.02%, HDFC Bank up 1.82%, Grasim up 1.42%, Bharti Airtel up 1.18%.
The major losers on the indices were HDFC down 1.67%, ONGC up 1.67%, ICICI Bank down 1.43%, Bajaj Auto down 1.22%.
Reliance was trading at Rs 1,014.00 up 0.72%. Tech major Infosys was trading at Rs 2,974.65 down 0.5%.
Sensex @ 1035 hrs
The markets continue to trade in red amidst lack of buying interest. At 10:35 the Sensex was trading in red at 10368 down 48 points and the Nifty was trading at 3036 down 13 points.
Asian markets were trading mixed. The Japan's Nikkei share average shed 0.59%.
The market breadth is negative, about 643 shares have advanced, 732 shares declined, and 47 shares are unchanged.
The major losers on the indices were HDFC, Bajaj Auto, ICICI Bank, Grasim, HCL Tech, MTNL and NALCO.
Reliance was trading at Rs 1,001.45 down 0.53%, Infosys was trading at Rs 2,980.25 down 0.31% and ITC was trading at Rs 170.50 down 0.58%.
On the corporate front,
- Tata Coffee:
Acquires US-based Eight O' Clock Coffee Co (EOC) for USD 220 million
EOC had net sales of USD 109 million, EBITDA of USD 27 million in 2005 - Anil Ambani says RIL violating non-compete agreement, Mukesh Ambani denies accusations
- Aditya Birla Nuvo buys Canada-based Minacs for USD 125 million
- Jet -Sahara battle CNBC-TV18 Exclusive:
Jet has borne over Rs 220 crore (Rs 2.20 billion) of Sahara's losses: Sources
Jet had agreed to share Sahara's losses starting Jan 2006: Sources
Air Sahara losses in Jan-June period over Rs 450 crore (Rs 4.50 billion): Sources
Losses is one reason why Jet wanted to renegotiate prices: Sources - Ranbaxy:
Gets USFDA nod for Simvastatin 80 mg
Expects patients shifting from Lipitor to Zocor
USFDA issues warning on deviations from current good mfg practices at Paonta Sahib - US court dismisses Novartis' appeal to block generic Zocor sale
- Dr Reddy's:
Launches generic version of Zocor
Significant pricing pressures seen; Merck's pricing strategy adds pressure
Generic Zocor being sold at below 60% on day 1 of patent expiry
Sees good sales coming from Proscar
Holding talks with BMS for patent settlement on Plavix
Expect win in Zoloft case - ITC hotels planning to set up 2 properties in Bangalore at investment of Rs 1,000 crore (Rs 10 billion) - BL
- INOX Leisure to acquire Calcutta Cine
Markets @ 10:00
The markets opened marginally positive but slipped in tyhe negative terrain on account of selling pressure. At 10:00 the Sensex was down 41 points at 10371 and the Nifty was down 20 points at 3030.
The Asian markets are trading mixed.
Steel stocks are witnessing some buying.
Details soon..
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