The market opened on a negative note on weak global cues this morning but bounced back amid high volatility within the next few minutes. However, with participants staying wary of building up positions and choosing to exit at every noticeable rise, equities had a highly choppy session today.
The Sensex, which hit a high of 19,375.07 and had a roller-coaster rise right through the session, ended the day with a big loss of 181.71 points or 0.94% at 19,009.35, off an intra-day low of 19,009.35. From a lifetime high of 20,498.11 it had touched at the opening bell on Friday, the 13th December 2007, it has been a steep slide down south for the Sensex in just three sessions.
The Nifty, which swung in an intra-day range of 164 points - it hit a high of 5874.60 and a low of 5710.60 today - settled at 5742.30 with a loss of 0.6% or 34.70 points.
Though as many as twelve Sensex components finished in the positive territory, only a few stocks closed with significant gains. Cipla, the star performer from the pack, ended with a gain of 3.8% at Rs 215.75. ITC ended 2.25% up at Rs 197.85. NTPC and Ranbaxy Laboratories gained 1.7% and 1.05% respectively.
Maruti Suzuki (0.8%), Bharti Airtel (0.65%), ACC (0.5%) and DLF (0.5%) also closed on a firm note. Tata Motors, Tata Consultancy Services, Bajaj Auto and Grasim Industries settled with small gains. Hindustan Unilever (down 3.35%), Larsen & Toubro (down 2.8%), ICICI Bank (down 2.25%), HDFC (down 2.25%), Reliance Industries (down 1.75%), ONGC (down 1.4%), HDFC Bank (down 1.25%), BHEL (down 1.2%), Reliance Energy (down 1.1%) and Mahindra & Mahindra (down 1.05%) declined sharply.
Tata Steel, Ambuja Cements, Hindalco, Reliance Communications and State Bank of India also ended with sharp losses. Satyam Computer Services, Wipro and Infosys Technologies closed with marginal losses. Tata Power, Sterlite Industries, VSNL, Unitech, Punjab National Bank and HCL Technologies were among the major losers from the Nifty fold.
BPCL rallied smartly in afternoon trade and finished with a handsome gain of 5.1%. Sun Pharmaceuticals shot up by 4.3%. Cairn India, Suzlon Energy, Reliance Petroleum and Siemens closed with smart gains. GAIL India and Idea Cellular also ended with notable gains.
Besides sector heavyweights Cipla, Ranbaxy Laboratories and Sun Pharmaceuticals, a few other pharma stocks ended the day on a high note. JB Chemicals jumped 8%. Nicholas Piramal, which topped the list of gainers from the healthcare index, surged 7.3% today. Sun Pharma Advanced Research, Bilcare, Cadila Healthcare, Glenmark Pharmaceuticals, Dishman Pharma and Aventis Pharma also closed with impressive gains.
Gujarat Industries & Power, Neyveli Lignite Corporation, Titan Industries, Rashtriya Chemicals & Fertilizers, Jet Airways, Ispat Industries, Chambal Fertilizers, Indian Oil Corporation, Mastek, Omaxe, GMR Infrastructure, Sun TV Network, Tata Chemicals and Hindustan Petroleum Corporation gained significant ground today.
Midcap stocks SpiceJet, Deccan Aviation, GTL Infrastructure, Coromandel Fertilizers, Gujarat Alkalies, India Infoline, Redington India, Dish TV, SSI, Essar Shipping, Renuka Sugars, Max India, AIA Engineering, Hindustan Construction Company and Bajaj Auto Finance also ended with notable gains.
The market breadth was weak as several midcap and smallcap stocks also recorded losses. Out of 2930 stocks traded on BSE today, 1225 stocks closed with gains. 1672 stocks finished on the losing side and 33 stocks ended at their previous closing prices.
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