Sensex down by 687 pts at close
Sensex tumbles on US worries
India Sensex Has Biggest Weekly Drop in
Realty, Oil & Gas, Bankex at the forefront
Wrap up: Sensex tanks 687.12 points
The benchmark BSE index, which hit a new high of 21,206.77 only a few sessions ago, in intra-day trades on 10 January 2008 to be precise, and had managed to post a modest gain of around 140 points for the week ended 11 January 2008, suffered hefty losses on all five sessions this week with weak global markets and a couple of big ticket IPOs driving the bulls out of the ring.
With the mood turning so bearish, not even some good results from India Inc proved strong enough motivation for the participants to go shopping for stocks. The Sensex, which had shed around 1125 points in four sessions till Thursday, lost a whopping 3.49% or 687.12 points today as it crashed to 19,013.70. In intra-day trades today, the Sensex hita high of 19,715.78 and a low of 18,930.42.
The Nifty, which recorded a new high at 6357.10 eight sessions back, posted a huge loss of 3.52% or 197.90 points as it settled at 5705.30, a few points off a low of 5677 it had touched in intra-day trades today.
Ranbaxy Laboratories stood tall amid the ruins. The pharma major, which shot up to a high of Rs 404.55 in intra-day trades, settled with a handsome gain of 5.1% at Rs 386.65. Cement stocks Grasim Industries (1.05%), Ambuja Cements (0.9%) and ACC (0.5%) remained positive right through the session. Bharti Airtel and Satyam Computer Services finished with minor gains.
For the second day running, index heavyweight Reliance Industries got a severe hammering. It ended with a big loss of 6.55% and contributed substantially to the barometer's sharp fall. Realty stock DLF closed with a sharp loss of 7.35%. NTPC ended 6.3% down at Rs 239.55.
Private sector bank stocks ICICI Bank and HDFC Bank lost 5.75% and 4.3% respectively. Reliance Energy, which had a bright spell this afternoon, turned easy during the closing minutes and settled with a loss a little over 4%.
Reliance Communications, Larsen & Toubro, Tata Steel, Tata Motors, ONGC, Mahindra & Mahindra, Cipla, Maruti Suzuki and Hindalco lost 3% - 4% today. State Bank of India and ITC lost more than 2%. Tata Consultancy Services and BHEL ended nearly 2% down at Rs 904.40 and Rs 2302.45 respectively.
Infosys Technologies ended with a loss of 1.75%. Hindustan Unilever (down 1.45%), Wipro (down 1.1%) and HDFC (down 1.05%) also closed with sharp losses. Bajaj Auto ended with a marginal loss.
Sterlite Industries, Cairn India, Idea Cellular, Reliance Petroleum, GAIL India, Suzlon Energy, Zee Entertainment, Nalco, Unitech, GlaxoSmithKline Pharma, Punjab National Bank, Siemens, VSNL, ABB and Tata Power all ended with big losses today. Hero Honda and BPCL lost nearly a per cent while HCL Technologies ended with a loss of around half a per cent.
Mid and smallcap stocks got mauled once again. Mirroring the heavy sell-off in these segments, the BSE Midcap and Smallcap indices crashed by 4.78% and 4.55% respectively
Among the sectoral indices, the Oil & Gas and Realty indices went down by 5.88% and 5.81% respectively. The Bankex tumbled by 5%. The PSU index, which has quite a number of bank stocks in its fold, dropped down by 4.7%. BSE Metal lost 4.89%. The Auto, Consumer Durables, Capital Goods and Power indices drifted down by 3% - 4%. The Healthcare and Teck indices eased by 2.43% and 2.18% respectively. The FMCG barometer lost 1.9% while the IT index settled lower by 1.63%.
The market breadth was very weak once again. Out of a total of 2890 stocks traded on BSE today, as many as 2505 stocks ended with losses. 362 stocks managed to post gains and 23 stocks ended unchanged from their previous closing levels.
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