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Market closes deep in red: Sensex slips below 14,000
Published on Wed, Jun 13, 2007 at 09:33 , Updated at Thu, Jun 14, 2007 at 09:51
Source : Moneycontrol.com
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The markets closed on an extremely weak note near the lowest point of the day. Sensex slipped below the 14,000 mark and the Nifty was hovering around the 4,100 levels. In terms of cues Asia was subdued except for China's Shanghai Composite which ended up around 2.5%. Smallcap & midcaps which were holding out their gains till noon ended in red giving market an extremely negative breadth. Oil marketing companies, telecom, banking stocks took it on their chin.However select pharma, IT and real estate stocks were relative ouperformers. The Sensex was down 127.92 points at 14,003.03 and the Nifty down 42.15 points at 4,113.05. Time Technoplst closed with 56% premium despite weak markets. The BSE Small Cap Index closed at 7,224.27 down 0.06%. The BSE Midcap Index ended at 6,065.63 down 0.31%. The BSE FMCG Index closed at 1,772.80 down 1%. Tata Tea, Britannia, HLL, United Spirits closed in red. The BSE Metal Index was down 0.8% to close at 10,275.27. Shree Precoated, SAIL,Tata Steel, Hind Zinc, Jindal Saw were among the losers. The BSE Health Care Index was up 0.23% at 3,739.84. Wyeth, Orchid Chemical, Dr Reddys Labs, Nicholas Pirama, Sun Pharma closed higher. The BSE Capital Goods Index was down 1.22% at 10,724.38. ABB, Suzlon Energy, Triveni Engg, Alstom Projects, L&T, Reliance Infra ended lower. The BSE Auto Index closed at 4,628.54 down 0.30%. Amtek Auto, Bharat Forge, Escorts, TVS Motor, Hero Honda among the losers The BSE IT Index closed at 4,966.87 down 0.2%. Patni Computer, Wipro, Tech Mahindra, TCS, Infosys ended weak. The BSE Bankex was down 1.14% at 7,453.52. SBI, Bank of India, Oriental Bank, Kotak Mahindra, Bank of Baroda closed lower The BSE Oil and Gas Index closed at 7,397.36 down 1.3%. BPCL, GAIL, HPCL, Reliance, IOC closed in red. The NSE cash turnover was at Rs 8086.05 crore and the NSE F&O turnover was at Rs 34009.31 crore. The BSE cash turnover was Rs 4169.31 crore. Total market wide turnover was at Rs 46264.67 crore. Market trades weak: SBI, HDFC, BPCL slip The markets have slipped deer in the red on heavy selling pressure on ondex pivotals. Sensex is dwon more than 100 points and Nifty is down over 30 points. At 15.03 pm IST, the Sensex is down 121.52 points or 0.86% at 14009.43, and the Nifty down 36.45 points or 0.88% at 4118.75. About 1088 shares have advanced, 1267 shares declined, and 84 shares are unchanged. Among the top losers are SBI, HDFC, Reliance Communication, BPCL, HPCL, GAIL and M&M. Market trades weak: SBI, HDFC, BPCL slip The markets continue to trade weak on the back of weak Asian cues and lack of buying interest in stocks. Selling pressure is seen in oil marketing, telecom and banking stocks. Healthcare and realty space are witnessing buying interest. However, the midcaps and the smallcap indices have outperformed the frontline indices and are trading marginally in green. At 14.27 pm IST, the Sensex is down 46.53 points or 0.33% at 14084.42, and the Nifty down 24.65 points or 0.59% at 4130.55. About 1156 shares have advanced, 1157 shares declined, and 84 shares are unchanged. Satyam, Dr Reddy's, ONGC, Tata Motors are among the gainers on the indices. Real estate stocks Unitech, Indiabulls Real are trading in green. Among the top losers are SBI, HDFC, Reliance Communication, BPCL, HPCL, GAIL and M&M. Markets in red: Oil & gas, telecom stocks trade weak The markets are choppy and trading within a range. Most of the Asia has been sluggish except for Shanghai. Midcap and smallcap indices are doing better than frontliners and the breadth has turned slightly in the favour of advance. It is opening a bit for on the F&O discount side, Nifty June futures are trading with 24 points discount. Oil marketing, telecom and capital goods have taken a breather and are in red. However, select pharma, auto and IT stocks are trading in green. Real estate space is looking in better shape today. Unitech, Indiabulls Real are trading in green. At 13.10 pm IST, the Sensex is down 55.67 points or 0.39% at 14075.28, and the Nifty down 24.85 points or 0.60% at 4130.35. About 1144 shares have advanced, 1091 shares declined, and 83 shares are unchanged. Top gainers on the Sensex are Dr Reddys Labs up 2.52%, Satyam up 1.58% and Reliance Energy up 1.33% Top losers on the Sensex are HDFC down 1.3%, ACC down 1.23% and SBI down 1.22% Top losers on the Nifty are BPCL down 2.84%, GAIL down 2.17% and HPCL down 2.13% On the IPO front, Time Technoplast listed with a premium of 55%. Deccan Aviation is buzzing on reports that rate hike is on cards and the stocks is up 3.4%.In the real estate segment Indiabulls Real is buzzing and is up 4.7%. Markets sluggish: Dr Reddy's, Maruti gain The markets have lost ground and are trading in red with marginal loss on account of selling pressure in index pivotals. Most of the Asia is subdued but China's Shanghai is up 2.5%. However, the midcaps and the smallcap indices have outperformed the frontline indices and are trading marginally in green.The market breadth is weak and fresh shorts are appearing on the F&O side. Only auto and pharma index are trading in green. FMCG and capital goods are among the major losers. At 11.57 am IST, the Sensex is down 61.03 points or 0.43% at 14069.92, and the Nifty down 20.05 points or 0.48% at 4135.15. About 1014 shares have advanced, 1024 shares declined, and 74 shares are unchanged. THE BSE Midcap index is up 0.11% and the smallcap index is up 0.14%. Among the top gainers on the indices are Dr Redy's, Tata Motors, Maruti Udyog and ONGC. ACC, Bharti Airtel, HDFC, GAIL and VSNL are among the top losers. On the IPO front, Time Technoplast listed with apremium of 55%. Deccan Aviation is buzzing on reports that rate hike is on cards and the stocks is up 3.4%.In the real estate segment Indiabulls Real is buzzing and is up 4.7%. Mkts trading quiet: ACC, HDFC top Sensex losers The markets have recovered but trading quiet. All the BSE indices are in green except FMCG index. Market breadth is extremely thin and the volume is also low. At 10.56 am IST, the Sensex is down 7.52 points or 0.05% at 14123.43, and the Nifty down 15.45 points or 0.37% at 4139.75. About 984 shares have advanced, 772 shares declined, and 58 shares are unchanged. Top gainers on the Sensex Dr Reddys Labs at Rs 621 up 1.60%, Tata Motors at Rs 651.55 up 1.59% and Maruti Udyog at Rs 729 up 1.33%. Top losers on the Sensex are ACC at Rs 794 down 1.6%, HDFC at Rs 1,754 down 1.53% and HDFC Bank at Rs 1,076 down 1.03%. Most active shares on BSE are Time Technoplast at Rs 467 with 24,23,113 shares, Dabur India at Rs 101.30 with 48,34,917 shares and Reliance at Rs 1,696.15 with 1,16,437 shares. Index heavyweight Hindustan Lever was trading at Rs 189.70 up 0.03% from its previous close of Rs 189.65. Index heavyweight Reliance was trading at Rs 1,699.00 down 0.03% from its previous close of Rs 1,699.55. Tech major Infosys was trading at Rs 1,981.60 down 0.26% from its previous close of Rs 1,986.75. Cigarette major ITC was trading at Rs 153.30 down 0.29% from its previous close of Rs 153.75. Refinery major HPCL was trading at Rs 278.40 up 0.52% from its previous close of Rs 276.95. Markets @ 9:58 am Market slips in early trade: RIL, Tata Steel, ICICI Bank up The markets have slipped in red after flat but positive opening today within few minutes of trade on the back of weak cues from the global markets. At 9:58 am, Sensex was down 9 points at 14121 and Nifty was down 5 points at 4149. Major gainers in the opening trade were ICICI Bank, Reliance Industries, Dabur, Tata Steel, Dr Reddy's, Ambuja Cement and Rel Comm. However, SBI, VSNL, ACC, ABB, HDFC, Infosys and SAIL opened weak. Time Technoplast got listed today on the bourses at Rs 489. Asian markets: Echoing declines on Wall Street overnight, Asian stocks fell today. Japan's Nikkei tumbled 0.64% or 114.10 points at 17,646.81, Hong Kong's Hang Seng plunged 0.38% or 77.44 points at 20,558.95, South Korea's Seoul Composite declined 0.61% or 10.6 points at 1,719.28, Singapore's Straits Times was down 0.20% or 7.12 points at 3,554.42 and Taiwan's Taiwan Weighted was flat at 8,372.07.
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