Main contributors of Sensex fall frm 21k to 10K are RIL,ICICI

Sensex ends below 10K; RIL, SBI, Bharti, Infy crash
http://news.moneycontrol.com/india/news/local-markets/sensex-ends-below-10000-ril-sbi-bharti-infy-crash/20/55/361801


The bears latched on to the markets in the second half of the session. They have forced the Sensex to hit 10,000 mark on the back of negative cues from global markets. Realty, power, metal, telecom, capital goods, oil, banking and technology stocks took huge beating on the bourses.

The biggest contributors to this fall were Reliance Industries, Bharti Airtel, Infosys, SBI, ICICI Bank, HDFC Bank, BHEL, NTPC, Reliance Communications, L&T, Reliance Infrastructure, TCS, and ONGC.

The Sensex has closed below the 10,000 mark for the first time since July 2006 and touched an intraday low of 9,911.32, a loss of over 53% from its historic high. It took 384 sessions to go up from 10,000 to 21,207 but took only 192 sessions on its downward journey. Reliance Industries and ICICI Bank were the biggest losers in this journey. They contributed 30% to this fall. The others included L&T, Reliance Communications, Tata Steel, and HDFC.

The bellwether index finally settled at 9,975.35, down 606.14 points, or 5.73%, over its previous close. The Nifty also cracked 3,050 and hit a low of 3,046.60 in today's session. It dropped over 52% from the highest point of 6357.10 on January 8, 2008. It tumbled 194.95 points, or 5.96%, to settle at 3074.35.

Market breadth was extremely weak; about 885 shares have advanced while 2103 shares have declined. Nearly 200 shares remained unchanged.

Among the frontliners, Reliance Infrastructure, Jaiprakash Associates, DLF, NTPC, Reliance Communication, BHEL, Sterlite Industries, SBI, TCS, Tata Steel, Hindalco, Unitech, Siemens and Reliance Petroleum crashed 8-12.5%. All stocks on the BSE Sensex Thirty are in red while only BPCL and HCL Tech ended in the green on the NSE Nifty Fifty.
Total turnover was very low as compared to previous day. It stood at Rs 58,370.46 crore as against Rs 72,822.47 crore on Thursday. This includes Rs 10,477.78 crore from NSE Cash segment, Rs 43,767.13 crore from NSE F&O segment and balance Rs 4,125.55 crore from BSE Cash segment.
Vineet Bhatnagar of MF Global feels that the high volatility numbers indicate that markets have not stabilised. The volatility percentile band has gone above 90% three weeks ago, he added. Bhatnagar sees Nifty support at 3050-3100 levels. The volumes may peak there, he added.
Markets took negative cues from US markets; huge volatility is expected in the US markets today as 80 million options will get expired. Dow Jones and Nasdaq Futures were down close to 2.5%, at 4:07 pm.
European markets had opened over 4% in early trade. However, they were also trading off day's high. FTSE, DAX and CAC were up over 1%, at 4:07 pm.
Asian markets also plunged in late trade barring Nikkei and Shanghai. Hang Seng and Jakarta closed down 4.4% each. Straits Times fell 3.73%, Kospi -2.73% and Taiwan -2.28%. However, Shanghai gained 1.08% and Nikkei rose 2.78%.

In the Taiwan market, FIIs sold USD 344.5 million worth of shares in trade today (provisional). They net sold USD 670 million during this week.
Adrian Mowat, JPMorgan sees more pain in Indian markets until we see some stability in the global financial system. He sees further downside in terms of expectations and feels that Indian markets may underperform over a six to twelve-month period. "If we see further substantial falls in the oil price, then India will tend to be more leveraged than other markets because of the benefit that a lower oil price gives the twin deficits of the current account and at the fiscal level." Crude was hovering around USD 70-71 to a barrel on the NYMEX.
Nirmal Jain, founder and CEO feels, “The rough times will last longer and outlook for the remaining part of the year is very volatile.” He feels that the next 3-4 quarters will be very uncertain and bearish for stock markets.
On the weekly basis, the Sensex has lost 5.8% and the Nifty fell 7%. BSE Metal tumbled 12.2% led by Nalco, Hindalco and Tata Steel, which fell 29%, 22% and 15%, respectively. BSE Oil & Gas Index slipped 11.5%; Reliance Industries and ONGC lost 15.5%. BSE Capital Goods Index crashed 9.5%; L&T and BHEL fell 11%.

Sectoral Indices
Realty stocks have collapsed like a pack of card in today's session. Indiabulls Real, Unitech, Peninsula Land, Ansal Properties, Parsvnath, Puravankara Projects and DLF fell 10-14%. Index has underperformed other indices, went down 288.37 points or 10.25%, to close at 2,524.89.
Power Index tumbled 150.74 points or 8.09% to 1,712.27. Reliance Infrastructure lost 12%. NTPC, Suzlon Energy, Power Grid Corp, CESC, Tata Power and GMR Infra lost 6-10%.
Metal stocks have lost shine. Sterlite Industries, Welspun Gujarat, Tata Steel, Hindalco, NALCO and JSW Steel fell 6-9%. Sesa Goa, Hind Zinc, SAIL and JSL were down 4-5%. Index plunged 378.16 points or 6.12%, to settle at 5,801.71.
Telecom stocks Reliance Communication, Tata Communication, Bharti Airtel, Idea Cellular and MTNL lost 5-10%.
BSE Capital Goods Index plummeted 423.44 points or 5.52%, to close at 7,241.36. Jyoti Structure, Punj Lloyd, Siemens, BHEL, Praj Industries, Crompton Greaves and Elecon Engg lost 6-12%. ABB, Bharat Electronics, Areva T&D and L&T fell 3-5.5%.
Banking stocks also crashed heavily. Kotak Mahindra, SBI, IndusInd Bank, HDFC Bank, ICICI Bank, Union Bank and Canara Bank fell 5-9%. Bankex fell 320.07 points or 5.46% to 5,546.69.
Oil & Gas Index tumbled 348.21 points or 5.10% to 6,479.56. Essar Oil, Aban Offshore, Reliance Petroleum, Reliance Industries and RNRL fell 5-10%. GAIL, ONGC and Cairn India lost 1-4%. However, oil marketing companies like IOC and HPCL rose 3-4%. BPCL gained 0.53%.

Technology stocks TCS, Wipro, Tech Mahindra and Infosys slipped 5-8%. IT Index slipped 131.90 points or 4.94% to 2,537.27. Satyam and Mphasis fell over 2.4%; they have reported good numbers for Q2FY09.
Auto Index closed at 3,099.60, down 96.31 points or 3.01%. Escorts, Maruti Suzuki, Hero Honda, Tata Motors, Bharat Forge, MRF and M&M were down 2-6%.
Healthcare Index fell 88.30 points or 2.68% to 3,209.02. Orchid Chemical, Divis Labs, Fortis Health, Biocon, Lupin, Sun Pharma, Glenmark and Aurobindo Pharma lost 4-7%.
FMCG Index was down by 43.52 points or 2.29%, to close at 1,858.99. United Spirits, GlaxoSmith Consumer, Godrej Consumer, Britannia, HUL and ITC fell 2-6%.
BSE Midcap plunged 112.29 points or 3.07% to 3,544.84 and Small Cap Index tumbled 118.50 points or 2.76%, to end at 4,167.86.
Among the midcap stocks, S Kumars Nationwide, ESS DEE, Provogue, India Infoline, Sterlite Technologies, Orbit Corporation and Chambal Fert tumbled 15-20%.
In the small cap space, ABG Infralogistics, Ganesh Housing, Kemrock Indus, Unity Infraprojects, Khaitan Electrical and KLG Systel fell 15-20%.

Markets Today
Carnage on Dalal Street Continues
SENSEX closes below 10000 for the first time since July 2006
Sensex hits a new 2008 low of 9911.3; Nifty hits a new 2008 low of 3046.6
Capitulation in Index stocks, Mid cap and Small Cap stocks outperform
Sensex ends down 606 points to close at 9975; Nifty ends down 195 points to close at 3074
CNX Midcap Index down 2.9%, BSE Small-cap Index down 2.8%
BSE Realty Index down 12%, Unitech down 12.5%, Indiabulls Real Estate down 13.8%, DLF down 10.1%, Orbit Corp down 15%
BSE Metal Index down 6.9%; Sterlite down 8.1%, Tata Steel down 8%, Hindalco down 7.3%, Sesa Goa down 6.6%
BSE Bankex down 6.3%; SBI down 7.8%, Hdfc Bank down 6.1%, Icici Bank down 5.9%, Kotak Bank down.1%
BSE Cap Goods down 5.8%; Punj Lloyd down 9.6%, Siemens down 9.6%, Bhel down 9.2%
BSE Oil & Gas down 5.8%; RPL down 8.5%, Reliance down 6.1%, Essar Oil down 9.9%
Index Losers : Rel Infra down 11.9%, NTPC down 9.4%, Tcs down 8.3%, Suzlon down 7.6%
NSE Adv – Dec Ratio at 1:4
Total market turnover at Rs 58370.46 crore versus Rs 68100.82 crore
NSE F&O Turnover at Rs 43767.13 crore versus Rs 48279 crore

RIL, ICICI Bank contributed to 30% of the fall from record 21,207
Name Contribution (pts) Contribution (%)
Reliance Ind -1747.85 15.60
ICICI Bank -1537.83 13.72
L&T -1000.62 8.93
Reliance Comm -602.52 5.38
Tata Steel -461.28 4.12
HDFC -459.75 4.10
Reliance Infra -438.50 3.91
DLF -428.19 3.82
JP Assoc -400.76 3.58
HDFC Bank -350.91 3.13
SBI -337.75 3.01
Infosys -318.53 2.84
ONGC -318.04 2.84
Sterlite Ind -307.11 2.74
BHEL -296.47 2.65
Bharti Airtel -262.75 2.34
ITC -250.92 2.24
NTPC -221.77 1.98
Hindalco -214.43 1.91
Grasim -208.29 1.86
Tata Motors -194.10 1.73
TCS -182.15 1.63
Tata Power -169.64 1.51
Satyam -138.92 1.24
M&M -100.99 0.90
Wipro -94.83 0.85
ACC -74.76 0.67
Maruti Suzuki -55.90 0.50
Ranbaxy -54.39 0.49
HUL 23.19 -0.21
Total -11206.77 100
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Contribution from 21,207 to 10000
2 stocks contributed to 30% fall in the Sensex. Reliance Industries contributed to 15.5% and ICICI Bank 14% to the fall.
6 stocks contribute to 50% fall in the Sensex
Name Contribution(pts) Contribution (%)
Reliance Ind -1748 15.60%
ICICI Bank -1538 13.72%
L&T -1001 8.93%
Reliance Comm -603 5.38%
Tata Steel -461 4.12%
HDFC -460 4.10%
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More @ SENSEX ends below 10000; RIL, SBI, Bharti, Infy crash Moneycontrol.com

Source: Moneycontrol.com.