Sensex loses 333 pts at close

Sensex loses 333 pts at close


Save for a brief while this morning, when they edged up a bit, the benchmark indices Sensex and Nifty were seen struggling in the red right through the session today as weak global markets dampened the mood significantly. Investors were also reluctant to take positions ahead of the crucial US Federal Reserve meet today.

Though a few blue chip stocks rallied higher on selective buying support, the broad market never really looked capable of wriggling out of trouble this afternoon. So severe was the pressure that stocks cutting across sectors caved in meekly in late afternoon trade today.
While the Sensex ended the day with a loss of 333.30 points or 1.84% at 17,758.64, the Nifty lost 2.14% or 113.20 points as it settled at 5167.60.

Reliance Energy, the biggest loser in the Sensex today, went down by 5.4%. Hindustan Unilever lost 5.1%. ONGC, Reliance Communications, NTPC, Bajaj Auto and Reliance Industries lost 4% - 5%.

ICICI Bank, Tata Motors, DLF, Hindalco, Maruti Suzuki, Larsen & Toubro, Mahindra & Mahindra, Cipla and ITC ended lower by 1% - 2%. ITC, Satyam Computer Services, Grasim Industries, State Bank of India and Wipro also ended in the negative territory, albeit with less pronounced losses. Infosys Technologies, HDFC Bank and Ranbaxy Laboratories ended almost unchanged from their previous closing price.

BHEL (1.85%), HDFC (1.55%) and Tata Steel (1.05%) ended with sharp gains. Ambuja Cements and ACC moved up by 0.8% and 0.75% respectively. Tata Consultancy Services and Bharti Airtel gained marginal ground.

Suzlon Energy, Reliance Petroleum, BPCL, VSNL, ABB, Idea Cellular, Cairn India, Nalco, Siemens and GAIL India finished with sharp losses.

Sun Pharmaceuticals gained 8.75% on strong buying support thanks to a good show by the company in the October - December 2007 quarter. Zee Entertainment moved up by 4.35%. SAIL firmed up by 1.5%. Punjab National Bank and Tata Power posted modest gains.

Midcap and smallcap stocks were also hammered today. Reflecting the sell-off in these segments, the BSE Midcap and Smallcap indices drifted down by 2.4% and 2.22% respectively. The market breadth was weak. Out of 2787 stocks traded on BSE, 2018 stocks ended in the red. 726 stocks posted gains and 43 stocks ended at their previous closing levels.


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