Sensex snaps winning streak, loses 74 pts at close
Sify India
It was a sluggish session for several blue chip stocks on the major Indian bourses today as participants stayed wary of building up positions due to lack of triggers. A few front line stocks did manage to garner support and posted smart gains, but then, save for a brief while this morning, it was a rather choppy journey for the benchmark indices Sensex and Nifty today.
While the Sensex, which opened with a positive gap of over 100 points at 19,707.86 - it remained its high for the session - but tumbled to 19,482.34 in late afternoon trade, ended with a loss of 73.91 points or 0.38% at 19,529.50, the Nifty settled 0.11% or 6.65 points down at 5858.35. In intra-day trades today, the Nifty touched a high of 5897.25 and a low of 5840.30.
Midcap and Smallcap stocks, however, had a fairly bright outing once again. Mirroring investor interest for these stocks, the BSE Midcap and Smallcap indices climbed up 1.6% and 1.58% respectively. Reliance Industries (down 2.3%), Tata Consultancy Services (down 2.2%), ICICI Bank (down2.1%), Satyam Computer Services (down1.55%), ONGC (down 1.25%) and Ranbaxy Laboratories (down 1.1%) took a severe beating in late afternoon trade.
Grasim Industries, Bharti Airtel, HDFC, Maruti Suzuki, Reliance Energy, NTPC, ACC, State Bank of India and Bajaj Auto eased by 0.25% - 1%. Cipla ended with a marginal loss at Rs 184.80. Reliance Communications ended at its previous closing price.
A host of stocks from the metal space, led by Tata Steel (4.1%), surged higher and lifted the Metal index up by nearly 3.25% today. Hindalco, which remained somewhat subdued for a better part of the session, ended with a gain of 1.15%. SAIL shot up by 8.55% to Rs 284.90. Maharashtra Seamless vaulted 12.4% to Rs 574.10. Jindal Steel jumped 9.3% on strong volumes.
Jindal Stainless, Shree Precoated Steels, Sesa Goa, JSW Steel, Gujarat NRE Coke, Bhushan Steel and Jindal Saw gained smart ground. Ispat Industries edged up by around 0.75%. Mahindra & Mahindra ended with a handsome gain of 2.8%. BHEL closed 2% up at Rs 2815.40. Ambuja Cements, which opened on a high note, lost its way sometime past mid afternoon, but bounced back a bit to close with a sharp gain of 1.25%. Larsen & Toubro gained 1.25%.
Infosys Technologies, Tata Motors and Wipro also finished with notable gains. ITC, Hindustan Unilever and HDFC Bank edged up marginally. DLF opened well but pared its gains and ended little changed from its previous closing price.
VSNL, Unitech, Reliance Petroleum, Sterlite Industries, Hero Honda, GlaxoSmithKline Pharma, HCL Technologies and Sun Pharmaceuticals ended with sharp losses. Hindustan Petroleum Corporation and BPCL moved up by 4.25% and 4.15% respectively. Tata Power, GAIL India, MTNL, Siemens and Punjab National Bank also closed with impressive gains.
Chambal Fertilizers, Mico, Godrej Consumer Products, Ingersoll Rand, Puravankara Projects, IVR Prime, Mangalore Refineries & Petrochemicals, Indian Oil Corporation, J&K Bank, Ashok Leyland, Tata Tea, Chennai Petroleum Corporation, Bombay Dyeing, Alstom Projects, Gujarat Minerals and National Fertilizers closed with strong gains today.
Wire & Wireless, which flared up by 22.65% to Rs 86.10, was the biggest gainers in the Midcap index. Jain Irrigation Systems shot up by 19.15%. Essar Steel zoomed 18%. Educomp Solutions, Adlabs Films, Essar Shipping, Mahindra Life, M&M Financial Services, Dalmia Cement (Bharat), Ruchi Soya, Bata India, NIIT, Ansal Infrastructure and Yes Bank were among the other big gainers from the midcap space.
Everonn Systems, Aegis Logistics, Techno Electric Engineering, Jindal South West Holdings, C&C Constructions, MCD Holdings, Kemrock, Kewal Kiran, Crew BOS, Varun Shipping, Nitin Fire Protection Equipments, Inox Leisure, Hindustan National Glass, Zuari Industries, Adhunik Metals and Raj Television were among the big gainers from the smallcap index.
Essar Oil (up 2.4%) was the turnover topper once again. On the National Stock Exchange, the Essar Oil counter recorded a turnover of nearly Rs 1075 crore today. Around 35.19 million shares were transacted at the Essar Oil counter on NSE. Shares of Mundra Port & Special Economic Zone were also in demand. The stock gained nearly 8.25% on NSE today on a strong volume of 4.85 million shares. IFCI also figured in the most active securities list. However, the stock was at the receiving end today. It lost 2.25% as it settled at Rs 104.35.
Though the premier indices ended in the red today, the market breadth was positive thanks to strong buying in midcap and smallcap stocks. Out of 2864 stocks traded on BSE, 1934 stocks surged higher. 878 stocks closed in the negative territory and 52 stocks ended at their previous closing levels.
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Showing posts with label Sensex snaps winning streak. Show all posts
Showing posts with label Sensex snaps winning streak. Show all posts
04 December 2007
30 October 2007
Sensex snaps winning streak, loses 194
Sensex snaps winning streak, loses 194
Amid volatile trades, the benchmark indices Sensex and the Nifty raced to new all-time highs today. However, the market found the going rather tough after the Reserve Bank of India hiked CRR by 50 basis points. As participants began to book profits, stock prices tumbled to lower levels and despite managing a few rallies now and then, the premier indices snapped their winning streak and settled down in the negative terrain today.
The Reserve Bank of India, which released its monetary policy review today, left bank, repo and reverse repo rates unchanged while hiking the Cash Reserve Ratio by 50 basis points.
Auto stocks were among the worst hit in the sell-off that saw the Sensex plunging to a low of 19,694.85, a massive drop of around 543 points from its new all-time high. Shares from banking, oil and FMCG sectors too felt the heat. Information technology and healthcare stocks had a tough outing as well.
Capital goods, metal and realty stocks fared well. Though several stocks encountered resistance at higher levels and pared their gains, the indices tracking the performance of these sectors, ended in the positive side, gaining 0.8%, 0.65% and 2.36% respectively.
While the Sensex, which hit a new high at 20,238.16, ended the session with a big loss of 0.97% or 194.16 points at 19,783.51, the Nifty settled at 5868.75, more than 100 points down from a high of 5976, netting a loss of 0.63% or 37.15 points. In intra-day trades today, the Nifty touched a low of 5833.90.
Maruti Suzuki embarked on a long trip down south today. Due to sustained selling at the counter, the stock slipped to a low of Rs 1075 before settling at Rs 1087.95, netting a big loss of 8.45%. Mahindra & Mahindra (down 7%) and Tata Motors (down 4.9%) also closed with sharp losses. Bajaj Auto, which fared a lot better, ended lower by around 0.6%.
State Bank of India eased by around 2.6% to Rs 2062.20. HDFC lost a little over 2%. Reliance Industries (down 2%), Grasim Industries (down 1.95%), Ranbaxy Laboratories (down 1.9%), Tata Consultancy Services (down 1.85%), Cipla (down 1.7%), ONGC (down 1.5%), ITC (1.5%), ACC (down 1.25%), HDFC Bank (down 1.25%) and Reliance Communications (down 1.1%) also closed with marked losses.
ICICI Bank, which spurted to a high of Rs 1293 in intra-day trades, ended at Rs 1240.25 with a loss of 0.7%. Satyam Computer Services, Hindalco, Bajaj Auto, Infosys Technologies, Hindustan Unilever and Tata Steel also ended weak.
Wipro, Ambuja Cements, Dr. Reddy's Laboratories and NTPC closed almost unchanged from their previous closing levels. Bharti Airtel gained around half a per cent. BHEL (1.65%), Larsen & Toubro (1.1%) and Reliance Energy (3.95%) had another profitable outing.
SAIL, Punjab National Bank, VSNL, Hero Honda, BPCL, Nalco, Zee Entertainment, MTNL and Suzlon Energy closed with sharp losses.
Sterlite Industries, which vaulted to a high of Rs 1084.70, ended with a gain of 6.8% at Rs 1020.50. Reliance Petroleum gained 5.3%. Tata Power and Sun Pharmaceuticals also closed on a firm note.
ABB, AIA Engineering, Greaves Cotton, Jyoti Structures and Siemens were the prominent gainers from the capital goods space.
Among realty stocks, DLF surged 5.8%. Anant Raj Industries posted a gain of 5.25%. Ansal Infrastructure, Unitech, India Bulls Real Estate and Puravankara Projects also posted impressive gains.
At Rs 24,636.21 crore, the turnover on the National Stock Exchange was the highest since 18 October 2007. On that day, the exchange had recorded a turnover of Rs 26,030.25 crore.
As participants chose to book profits in several large, medium and small cap stocks, the market breadth turned weak today. When trade ended, out of 2822 stocks that were seen in action on BSE, 1666 stocks had slipped into the red. 1087 stocks closed on a winning note and 69 stocks settled at their previous closing levels.
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.sify.com allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
Amid volatile trades, the benchmark indices Sensex and the Nifty raced to new all-time highs today. However, the market found the going rather tough after the Reserve Bank of India hiked CRR by 50 basis points. As participants began to book profits, stock prices tumbled to lower levels and despite managing a few rallies now and then, the premier indices snapped their winning streak and settled down in the negative terrain today.
The Reserve Bank of India, which released its monetary policy review today, left bank, repo and reverse repo rates unchanged while hiking the Cash Reserve Ratio by 50 basis points.
Auto stocks were among the worst hit in the sell-off that saw the Sensex plunging to a low of 19,694.85, a massive drop of around 543 points from its new all-time high. Shares from banking, oil and FMCG sectors too felt the heat. Information technology and healthcare stocks had a tough outing as well.
Capital goods, metal and realty stocks fared well. Though several stocks encountered resistance at higher levels and pared their gains, the indices tracking the performance of these sectors, ended in the positive side, gaining 0.8%, 0.65% and 2.36% respectively.
While the Sensex, which hit a new high at 20,238.16, ended the session with a big loss of 0.97% or 194.16 points at 19,783.51, the Nifty settled at 5868.75, more than 100 points down from a high of 5976, netting a loss of 0.63% or 37.15 points. In intra-day trades today, the Nifty touched a low of 5833.90.
Maruti Suzuki embarked on a long trip down south today. Due to sustained selling at the counter, the stock slipped to a low of Rs 1075 before settling at Rs 1087.95, netting a big loss of 8.45%. Mahindra & Mahindra (down 7%) and Tata Motors (down 4.9%) also closed with sharp losses. Bajaj Auto, which fared a lot better, ended lower by around 0.6%.
State Bank of India eased by around 2.6% to Rs 2062.20. HDFC lost a little over 2%. Reliance Industries (down 2%), Grasim Industries (down 1.95%), Ranbaxy Laboratories (down 1.9%), Tata Consultancy Services (down 1.85%), Cipla (down 1.7%), ONGC (down 1.5%), ITC (1.5%), ACC (down 1.25%), HDFC Bank (down 1.25%) and Reliance Communications (down 1.1%) also closed with marked losses.
ICICI Bank, which spurted to a high of Rs 1293 in intra-day trades, ended at Rs 1240.25 with a loss of 0.7%. Satyam Computer Services, Hindalco, Bajaj Auto, Infosys Technologies, Hindustan Unilever and Tata Steel also ended weak.
Wipro, Ambuja Cements, Dr. Reddy's Laboratories and NTPC closed almost unchanged from their previous closing levels. Bharti Airtel gained around half a per cent. BHEL (1.65%), Larsen & Toubro (1.1%) and Reliance Energy (3.95%) had another profitable outing.
SAIL, Punjab National Bank, VSNL, Hero Honda, BPCL, Nalco, Zee Entertainment, MTNL and Suzlon Energy closed with sharp losses.
Sterlite Industries, which vaulted to a high of Rs 1084.70, ended with a gain of 6.8% at Rs 1020.50. Reliance Petroleum gained 5.3%. Tata Power and Sun Pharmaceuticals also closed on a firm note.
ABB, AIA Engineering, Greaves Cotton, Jyoti Structures and Siemens were the prominent gainers from the capital goods space.
Among realty stocks, DLF surged 5.8%. Anant Raj Industries posted a gain of 5.25%. Ansal Infrastructure, Unitech, India Bulls Real Estate and Puravankara Projects also posted impressive gains.
At Rs 24,636.21 crore, the turnover on the National Stock Exchange was the highest since 18 October 2007. On that day, the exchange had recorded a turnover of Rs 26,030.25 crore.
As participants chose to book profits in several large, medium and small cap stocks, the market breadth turned weak today. When trade ended, out of 2822 stocks that were seen in action on BSE, 1666 stocks had slipped into the red. 1087 stocks closed on a winning note and 69 stocks settled at their previous closing levels.
We thank (will be grateful to) the owners of the above articles/sites/sources/Govts www.sify.com allowing/referring this. We are just providing the link/information of business updates from the leading sources for the benefit of readers.
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