Sensex tumbles again, loses 167 pts at close

Sensex tumbles again, loses 167 pts at close
India's Sensex Falls for Fourth Day;
Sensex ends down over 160pts, RIL drops
Sensex sheds 167 points on weak global

NSE 5913.20 -22.55
BSE 19700.82 -167.29



With global markets not making any significant recovery from recent losses, the bears stormed the major Indian bourses once again and despite facing some strong resistance from their rivals in afternoon trade, stayed put and went on a rampage during the closing minutes of the session today.

So strong was the sell-off in certain heavyweights that the Sensex, which had bounced back to 20,026.12 around mid-afternoon, went crashing down to a low 19,643.76 with not much time to go for the closing bell. Notwithstanding a minor recovery from that level, the Sensex, recording its fourth straight loss, ended the session at 19,700.82, down 167.29 points or 0.84% from its previous closing mark. With today's loss, the Sensex has lost over 1100 points in four sessions this week.

The Nifty, which hit a high of 6013.15 in intra-day trades, closed with a loss of 0.38% or 22.55 points at 5913.20. It hit a low of 5880.30 today.

Ambuja Cements (down 3.85%), DLF (down 3.7%), ICICI Bank (down 3.45%), Reliance Industries (down 3.3%), Ranbaxy Laboratories (down 2.85%), Reliance Energy (down 2.35%) and Tata Consultancy Services (down 2.3%) declined sharply.

Satyam Computer Services ended nearly 2% down at Rs 372.45. HDFC Bank eased by 1.7%. Tata Motors (down 1.65%), NTPC (down 1.2%) and Tata Steel (down 1%) also closed with sharp losses.

Reliance Communications, Infosys Technologies, ONGC, Hindalco and State Bank of India found support at lower levels - they even enjoyed a bright spell in the positive territory - and closed with small losses.

FMCG stocks ITC (up nearly 4%) and Hindustan Unilever (1.1%) had a good outing today. Grasim Industries moved up by over 3% to Rs 3360. Maruti Suzuki, which touched a high of Rs 894 in intra-day trades, closed with a handsome gain of 2.8% at Rs 867.30.

Larsen & Toubro and BHEL, the capital goods majors, surged 2.2% and 1.75% respectively. Cipla notched up a sharp gain of 1.85%. Mahindra & Mahindra moved up by 1.75% to Rs 751.85. Wipro, Bharti Airtel, ACC, Bajaj Auto and HDFC posted modest gains.

Nifty stock Nalco shot up by 7.55% today. Siemens gained a little over 4%. Punjab National Bank, Tata Power, Cairn India, GAIL India, Unitech and Sterlite Industries finished with sharp gains.

Bombay Dyeing, Colgate Palmolive, HDIL, Gujarat Minerals, National Fertilizers, Rashtriya Chemicals & Fertilizers, Welspun Gujarat, HMT, LIC Housing Finance, Bharat Forge, J&K Bank, Hexaware, Mangalore Refineries & Petrochemicals, BASF India, D-Link India, Indo Rama Synthetics and Raymond ended with strong gains.

Spice Telecom, Lanco Infratech, IDBI, Sun TV Network, Indian Bank, Alstom Projects, HCL Infosys, Container Corporation, CESC, MphasiS and United Phosphorus were among the prominent losers from BSE 'A' Group.

Among midcaps, sugar stocks Balrampur Chini and Bajaj Hindustan vaulted by 11.2% and 9.9% respectively. GTL Infrastructure, Kesoram Industries, Shiv Vani OIl, Adlabs Films, Zee News, Akruti City, Info Edge, Madras Aluminium, Shree Precoated Steels, Essar Shipping and Triveni Engineering also closed with sharp gains.

Though the benchmark indices closed with sharp losses, the market breadth was quite positive today. Out of 2877 stocks traded on BSE, 2003 stocks finished with gains. 833 stocks ended weak and 41 stocks ended at their previous closing levels.

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