Nifty ends below 4750:Realty, metal, power, banks worst hit

It was a worse session for the markets, which corrected sharply and ended at days low of the first day of week. The Sensex breached 16000 mark in late trade but managed to close above 16K and the Nifty ended below 4750 levels. Biggest culprits were realty, PSU, metal, power, banking, capital goods, technology and oil stocks. European markets also crashed, which added to negative sentiments. Market breadth was very weak. Midcap and small cap stocks hit badly.

The Sensex touched an intraday high of 16,632.72 and low of 15,991.21 before closing the day at 16,063.18, down 352.39 points or 2.15%. The Nifty finished at 4739.60, down 130.5 points or 2.68% after hitting high/low of 4908.80 and 4713.

Top losers were NTPC, ACC, Hindalco, Reliance Infra, Nalco, Unitech and TCS while Maruti, ITC, Hero Honda and Sun Pharma top gainers.

Market breadth was weak, about 736 shares have advanced, 2221 shares declined, and 155 shares remained unchanged.

Realty stocks collapsed like a pack of card and were worst underpeformers of the day. Realty Index fell 280.53 points or 4% to settle at 6,728.13 due to huge sell off in HDIL, Puravankara Proj, Unitech, Mahindra Life, Sobha Developer, DLF and Omaxe.

Metal stocks like Sesa Goa, Jindal Steel, NALCO, Hindalco, Hind Zinc, Tata Steel and SAIL have lost shine. The Metal Index crashed 3.66% or 619.37 points at 16,295.26.

Power stocks including NTPC, Reliance Infra, Tata Power, Torrent Power, Power Grid , Suzlon Energy and Reliance Power completely darken. Index was down 107.50 points or 3.66% at 2,828.74.

Bankex crumbled 260.26 points or 3.37% to end at 7,454.33 as selling pressure seen in Kotak Mahindra, Axis Bank, Yes Bank, Karnataka Bank, HDFC Bank, Bank of Baroda, SBI and ICICI Bank.

Capital goods stocks like Punj Lloyd, Praj Industries, Triveni Engg, Alstom Projects, L&T, Bharat Bijlee and BHEL were remained under bears control. Capital Goods Index went down 341.89 points or 2.6% at 12,808.75.

Oil & Gas Index fell 190 points or 1.83% at 10,206.71 on the back of sell off in GAIL, Cairn India, Petronet LNG, ONGC, RNRL, BPCL, Reliance, HPCL and IOC.

Telecom stocks like Tata Teleservices, Reliance Comm, Idea Cellular, Tata Comm and Spice Comm also crumpled.

Technology stocks have given up entire morning gains and ended in negative terrain. IT Index was down 1.37% at 4,580.35 as sell off in TCS, Tech Mahindra, HCL Tech, Wipro, Satyam and Infosys.

Healthcare Index shot down 1.04% at 4,350.42 due to weakness in Sterling Bio, Lupin, GSK Pharma, Orchid Chemical, Aurobindo Pharma and Wockhardt.

Selling was also seen in FMCG stocks like United Spirits, Godrej Consumer, Marico, Colgate, Nestle, Britannia, Tata Tea and HUL. Index fell 0.67% at 2,411.48.

BSE Midcap Index fell 2.61% at 6,584.19 and Small Cap index was down 2.13% at 7,959.51. Amongst midcap space, Monsanto India, Honeywell Autom, DCB, Bombay Dyeing, Raymond, LIC Housing Fin and Orbit Corporation were down over 7%.

Top small cap losers like Zodiac Clothing, Sanghi Ind, Asian Electroni, Easun Reyrl, Indo Tech Trans, Cinemax India and Hatsun Agro fell over 8%.

Most active counters on the bourses were Reliance, L&T, Tata Steel, SBI and ICICI Bank.

Total turnover traded by the markets stood at Rs 51868.63 crore including Rs 11816.96 crore from NSE Cash segment, Rs 35257.77 crore from NSE F&O and Rs 4793.9 crore from BSE Cash segment.

On the global front, Asian markets ended higher barring mild loss in Kospi. European markets were trading sharply lower as banks declined on news of troubles at UK lender Bradford & Bingle. FTSE 100 was down 0.8%, CAC down 1.5% and DAX down 1% at the time of writing market report.

Markets Snapshot

• Market witness bad session of trade as Nifty slips below 4800 and Sensex below 16000 during the day
• Sensex ends down 352 pts at 16063; NIfty ends down 130.5 pts at 4740
• CNX Midcap Index down 2%, BSE Small-cap Index down 2.13%
• BSE Realty Index down 4%; Orbit down 7.5%, HDIL down 6.7%, Unitech down 6.5%, Sobha Dev down 5.5%
• BSE Metal Index down 3.6%; Sesa Goa down 8.2%, SAIL down 5.2%, Hindalco down 5.1%, Hind Zinc down 4.5%
• Base Metal last week: Tin down 13%, Zinc down 6%, Copper down 4%, Aluminium down 2% last week
• BSE Bank Index down 3.3%; Kotak Mah down 6.3%, CBI down 6.1%, Axis Bank down 5.5%, Yes Bank down 4.8%, HDFC Bk down 4.25%, SBI down 3.5%
• BSE Auto Index ends flat on back of good monthly nos from auto cos; Hero Honda up 5.5%, MUL up 3.2%
• Buzzers: Zandu Pharma up 19.5%, Bajaj FinServe up 6.5%, Blue Dart up 6%
• Losers; Aishwarya Tele down 10%, DCB down 9.5%, Harrison Malayam down 9.5%, Asian Elec down 11.5%
• NSE Advance Decline at 1:5
• Total market turnover at Rs 51868 cr; FNO turnover at Rs 35257 cr

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