Sensex extends losing streak, ends 110 points

Sensex extends losing streak, ends 110
Sensex falls 110 points; realty, banking

NSE
5137.45 -30.15
BSE
17648.71 -109.93



The market, which drifted down sharply into the red after opening higher, bounced back smartly as select blue chips, led by information technology and oil majors, ruled firm on sustained buying enquiries due largely to short-covering in the derivative segment ahead of expiry of January series contracts.
Mirroring the surge, the Sensex, which was down in the red with a big loss of nearly 350 points at 17,417.63 at one stage, zoomed past the 18,000 mark a little past noon and held on in the positive territory with its gains intact till around mid afternoon. However, with a number of front line stocks turning easy following a strong bout of selling in late afternoon trade, the barometer plunged into the red once again.
Finally, amid erratic fluctuations in stock prices, the Sensex ended the session with a sharp loss of 109.93 points or 0.62% at 17,648.71. The Nifty which swung in a range of around 180 points - it hit a high of 5251.65 and a low of 5071.15 today - settled at 5137.45 with a loss of 0.58% or 30.15 points.
Global cues were somewhat mixed. Despite a 50 basis point cut announced by the US Federal Reserve, the Wall Street had ended just marginally higher. Among the markets in Asia, Japan, South Korea, Thailand and Malaysia ended higher while Taiwan, China and Hong Kong markets ended weak. Results from India Inc remained mixed as well.
Hindustan Unilever, which moved up by over 5%, was the top gainer in the Sensex today. Bajaj Auto surged 3.85% to Rs 2355.65. HDFC Bank and ONGC closed stronger by 2.4% and 2.05% respectively despite surrendering a good portion of their intra-day gains.
Tata Motors, Bharti Airtel, Tata Steel, Tata Consultancy Services and Ambuja Cements closed with gains ranging from 1% to 1.5%. Infosys Technologies and Reliance Industries played a significant role in lifting the market this morning but both gave up a significant portion of their gains due to heavy selling in late afternoon trade. While Infosys Technologies ended with a gain of 0.75%, Reliance Industries closed with a modest gain of 0.4%. Maruti Suzuki and Wipro closed higher by 0.75% and 0.3% respectively.
Disappointing results haunted Hindalco today. The stock, which slipped to a low of Rs 158.50 did find some support at lower levels, yet ended the session with a sharp loss of 5.85% at Rs 165.75. Realty stock DLF eased by 5.75%. ICICI Bank (down 3.3%), Mahindra & Mahindra (down 3.1%), State Bank of India (down 2.6%), ITC (down 2.15%), NTPC (down 1.85%), ACC (down 1.8%), HDFC (down 1.75%) and Reliance Communications (down 1.7%) also ended with sharp losses.
Grasim Industries ended 1.4% down at Rs 2948.75. BHEL, which moved in a tight band today, closed with a loss of 1.15% at Rs 2064.10. Ranbaxy Laboratories lost 1.15%. Larsen & Toubro declined by 0.7% while Reliance Energy and Satyam Computer Services edged lower by around 0.4%. Cipla finished with a small loss.
GlaxoSmithKline Pharma, HCL Technologies, GAIL India, Punjab National Bank, Tata Power, Siemens, ABB, Sterlite Industries, Suzlon Energy, SAIL, Sun Pharmaceuticals, Reliance Petroleum and Dr. Reddy's Laboratories were among the major losers from the Nifty.
Nalco ended with a handsome gain of 8.5%. Idea Cellular moved up by 7.15%. VSNL closed with a sharp gain of 4.65% while Zee Entertainment gained over 4%.
Container Corporation jumped 14.25% on strong results and a bonus proposal. Exide Industries, Jindal Stainless, Asian Paints, Indian Oil Corporation, IVR Prime, Jindal Steel, Gujarat Mineral Development, Lupin, Gillette, Torrent Pharma, Colgate Palmolive, Aditya Birla Nuvo, D-Link India, Procter & Gamble and United Phosphorus had a nice ride up the charts today.
Honeywell Automation, Ess Dee Aluminium, Rajesh Exports, Infotech Enterprises, Amtek India, Plethico Pharma, Indraprastha Gas, Provogue, Anant Raj Industries, JM Financial Services, Kalpataru Power Transmission, Geodesic Infosystems, REI Agro, Himadri Chemicals and Religare Enterprises were some of the impressive gainers in the midcap index today.
The market breadth was weak once again. Out of 2792 stocks traded on BSE today, only 977 stocks managed to end on a winning note. 1774 stocks closed in the negative territory while 41 stocks ended at their previous closing levels.

The market, which drifted down sharply into the red after opening higher, bounced back smartly as select blue chips, led by information technology and oil majors, ruled firm on sustained buying enquiries due largely to short-covering in the derivative segment ahead of expiry of January series contracts.

Mirroring the surge, the Sensex, which was down in the red with a big loss of nearly 350 points at 17,417.63 at one stage, zoomed past the 18,000 mark a little past noon and held on in the positive territory with its gains intact till around mid afternoon. However, with a number of front line stocks turning easy following a strong bout of selling in late afternoon trade, the barometer plunged into the red once again.

Finally, amid erratic fluctuations in stock prices, the Sensex ended the session with a sharp loss of 109.93 points or 0.62% at 17,648.71. The Nifty which swung in a range of around 180 points - it hit a high of 5251.65 and a low of 5071.15 today - settled at 5137.45 with a loss of 0.58% or 30.15 points.

Global cues were somewhat mixed. Despite a 50 basis point cut announced by the US Federal Reserve, the Wall Street had ended just marginally higher. Among the markets in Asia, Japan, South Korea, Thailand and Malaysia ended higher while Taiwan, China and Hong Kong markets ended weak. Results from India Inc remained mixed as well.

Hindustan Unilever, which moved up by over 5%, was the top gainer in the Sensex today. Bajaj Auto surged 3.85% to Rs 2355.65. HDFC Bank and ONGC closed stronger by 2.4% and 2.05% respectively despite surrendering a good portion of their intra-day gains.

Tata Motors, Bharti Airtel, Tata Steel, Tata Consultancy Services and Ambuja Cements closed with gains ranging from 1% to 1.5%. Infosys Technologies and Reliance Industries played a significant role in lifting the market this morning but both gave up a significant portion of their gains due to heavy selling in late afternoon trade. While Infosys Technologies ended with a gain of 0.75%, Reliance Industries closed with a modest gain of 0.4%. Maruti Suzuki and Wipro closed higher by 0.75% and 0.3% respectively.

Disappointing results haunted Hindalco today. The stock, which slipped to a low of Rs 158.50 did find some support at lower levels, yet ended the session with a sharp loss of 5.85% at Rs 165.75. Realty stock DLF eased by 5.75%. ICICI Bank (down 3.3%), Mahindra & Mahindra (down 3.1%), State Bank of India (down 2.6%), ITC (down 2.15%), NTPC (down 1.85%), ACC (down 1.8%), HDFC (down 1.75%) and Reliance Communications (down 1.7%) also ended with sharp losses.
Grasim Industries ended 1.4% down at Rs 2948.75. BHEL, which moved in a tight band today, closed with a loss of 1.15% at Rs 2064.10. Ranbaxy Laboratories lost 1.15%. Larsen & Toubro declined by 0.7% while Reliance Energy and Satyam Computer Services edged lower by around 0.4%. Cipla finished with a small loss.

GlaxoSmithKline Pharma, HCL Technologies, GAIL India, Punjab National Bank, Tata Power, Siemens, ABB, Sterlite Industries, Suzlon Energy, SAIL, Sun Pharmaceuticals, Reliance Petroleum and Dr. Reddy's Laboratories were among the major losers from the Nifty.
Nalco ended with a handsome gain of 8.5%. Idea Cellular moved up by 7.15%. VSNL closed with a sharp gain of 4.65% while Zee Entertainment gained over 4%.

Container Corporation jumped 14.25% on strong results and a bonus proposal. Exide Industries, Jindal Stainless, Asian Paints, Indian Oil Corporation, IVR Prime, Jindal Steel, Gujarat Mineral Development, Lupin, Gillette, Torrent Pharma, Colgate Palmolive, Aditya Birla Nuvo, D-Link India, Procter & Gamble and United Phosphorus had a nice ride up the charts today.

Honeywell Automation, Ess Dee Aluminium, Rajesh Exports, Infotech Enterprises, Amtek India, Plethico Pharma, Indraprastha Gas, Provogue, Anant Raj Industries, JM Financial Services, Kalpataru Power Transmission, Geodesic Infosystems, REI Agro, Himadri Chemicals and Religare Enterprises were some of the impressive gainers in the midcap index today.

The market breadth was weak once again. Out of 2792 stocks traded on BSE today, only 977 stocks managed to end on a winning note. 1774 stocks closed in the negative territory while 41 stocks ended at their previous closing levels.

Sify stories:

Omaxe Q3 net at Rs 154.157 cr
Unitech to invest Rs 1,00,000 cr in real estate
Tata Motors Q3 net profit dips 3%
ACC Q3 net up 15.14% at Rs 1427.34 cr

National Fertilizers Q3 net up 28.34% at Rs 47 cr
Hero Honda Q3 net up 32%
Birla Corporation Q3 net up 11.83% at Rs 106.40 cr
Tata Chemicals buys US firm for a $1 b

Economic growth will top 9%: Chidambaram
Parsvnath Developers Q3 net at Rs 112.571 cr
Reliance Comm Q3 net up 49%, beats forecast
GDP records impressive growth of 9.6% in 2006-07

UTV among 34 FDI proposals cleared
49% foreign investment in credit info cos allowed
Bank of Baroda Q3 net grows 52% at Rs 501 cr
Prithvi Info Q3 net rises
US Fed fixes interest rate at 3.0 percent



Source: www.sify.com/finance . We thank (will be grateful to) the owners of the above articles/sites/sources/Govts for allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers. Viewers are strictly advised to take own decision in Stock buying and make verification about the information. Blog is not responsible for any faulty information.