Sensex ends below 15500; banks, realty, CG, IT stks drag

The markets had opened with marginal gains and remained volatile for first half of session, which seemed that tussle between bulls and bears. But ultimately after 12:30 pm, both indices started drifting lower and broken psychological levels. The Nifty closed below 4600 and the Sensex below 15500 levels.

The Sensex has touched an intraday low of 15,390.22 and high of 15,789.62, before closing the day at 15,422.31, down 274.59 points or 1.75%. The Nifty plunged 70.6 points or 1.52% at 4582.40 after hitting a high/low of 4679.75 and 4569.90.

Amongst frontliners, HCL Tech plunged -4.48%, ICICI Bank -4.11%, HDFC Bank -3.73%, Tata Steel -3.30% and L&T -3.12% while Ambuja Cements was up 4.80%, Zee Entertain 3.39%, Ranbaxy Labs 2.88%, Grasim 2.38% and Maruti Suzuki 1.24%.

Market breadth was negative; about 1305 shares have advanced while 1458 shares declined. Nearly 358 shares remained unchanged on the BSE.

BSE Bankex has underperformed other indices, down 3.45% or 260.73 points at 7,306.44 due to heavy sell off in Axis Bank, ICICI Bank, Kotak Mahindra, Bank of Baroda, HDFC Bank, Union Bank, PNB and SBI.

Realty stocks like have collapsed very badly. Index lost 213.41 points or 3.5% at 5,885.78 on the back of selling in Indiabulls Real, Puravankara Proj, Sobha Developers, Unitech, DLF and HDIL.

IT Index fell 2.39% or 106.26 points to settle at 4,333.94. Technology stocks like HCL Tech, i-Flex Solution, Tech Mahindra, Infosys, Satyam, TCS and Wipro have plunged.

Capital Goods stocks also witnessed selling pressure. Index was down 243.94 points or 1.97% at 12,119.33 led by selling in Greaves Cotton, Areva T&D, Punj Lloyd, Larsen, BHEL, Thermax, BEML and Crompton Greaves.

Oil & Gas Index crashed 1.71% or 175.44 points to close at 10,066.35 due to losing counters like Essar Oil, Reliance Ind, Cairn India, GAIL and ONGC.

Metal stocks ended in the red. This includes Hind Zinc, Tata Steel, SAIL, Jindal Steel, NALCO and Sesa Goa, which forced the Index to close at 15,251.48, lower by 1.71% or 265.38 points.

Power stocks like Reliance Infra, Reliance Power, Tata Power, CESC and NTPC have crumpled. Index lost 1.05% at 2,675.

A bit of selling also seen in pharmaceutical space, which includes stocks like Aurobindo Pharma, Opto Circuits, Dr Reddy's Labs, Divis Labs, Lupin and Piramal Health. Index was down by 0.49% at 4,526.76.

However, Auto and FMCG indices finished marginally higher. In the FMCG space, United Spirits, United Breweries, Marico and ITC have gained. Amongst auto stocks, Hero Honda, Bosch, Hind Motors, Maruti Suzuki and Ashok Leyland were up.

CNX Midcap was down 0.97% at 6213.65. Amongst midcap stocks, Bank of Maharashtra, IVRCL Infras, Aurobindo Pharma, Exide Industries, United Phos, Shipping Corp, Balrampur Chini, Pantaloon Retail, UCO Bank, Punj Lloyd and GSK Cons have plunged 3-6%.

Most active counters on the bourses were Ranbaxy Labs, Reliance Industries, L&T, Tata Steel, Suzlon Energy and Reliance Petroleum.

Total turnover traded by the markets stood at Rs 65,955.85 crore. This includes Rs 12,350.88 crore from NSE Cash segment, Rs 47,440.71 crore from NSE F&O and the balance Rs 6,164.26 crore from BSE Cash segment.

On the global front, Asian markets ended in green barring Jakarta Composite. Nikkei was up 0.73%, Shanghai 5.24%, Kospi 1.34%, Taiwan Weighted 0.19%, Straits Times 0.39% and Hang Seng 1.16%. However, Jakarta fell 0.56%. European markets were trading weak ahead of results from Morgan Stanley, at the time of writing market report. FTSE 100 was down 1%, CAC 0.6% and DAX 0.14%.

Markets Snapshot

• Markets slide in the 2nd part of day on back of European jitters
• Reports that Royal Bank of Scotland analysts are telling clients to prepare for a crash in world stock & credit markets during the next 3 months
• Sensex ends down 275 pts at 15422; Nifty ends down 70.6 pts at 4582.4
• CNX Midcap Index down 1%, BSE Small-cap Index ends flat
• BSE Bank Index down 3.5%; ICICI Bank down 4.1%, HDFC Bank down 3.7%
• BSE Realty Index down 3.5%; DLF, Unitech down 3%
• Index Losers; HCL Tech down 4.5%, Tata Steel down 3.3%, L&T down 3.2%, Tata Comm down 3%
• Index Gainers; Ambuja Cem up 3.7%, Zee Ent up 3.4%, Ranbaxy up 2.7%
• Buzzers; SRF up 10.3%, Cambrideg Sol up 20%, Andrew Yule up 20%, PTC India up 5.5%
• Media Buzzers; NDTV up 11.5%, Raj TV up 11.9%, Midday up 9.5%, TV Today up 14.5%
• Losers; Bank of Mah down 6.5%, Vaibhav Gems down 7.1%, Ibulls Real down 6.5%, Unichem Lab down 8.5%
• NSE Advance Decline at 5:7
• Total market turnover at Rs 65956 cr Vs Rs 58912 cr on Tuesday
• F&O turnover at Rs 47440 cr Vs Rs 42624 cr on Tuesday

F&O Snapshot

• Nifty Fut sees short rollover; June trades at 10-20 point discounts
• Nifty Fut July at 25 point discount
• Unwinding seen in Momentum stocks in latter half
• Fertilizer stocks see long unwinding
• Cement stocks sees fresh long build up
• Star Trade:
  NDTV up 11.65 ; adds 1.5 lakh shares
  Ambuja Cem up 4.2%; adds 15.7 lakh shares
• Fresh Shorts:
  IFCI dn 4.8%; 12.9 lakh shares
  Unitech dn 3.6 %; adds 9.9 lakh shares
  SAIL dn 3.6 %; adds 8.9 lakh shares
  ICICI Bank dn 4.1 %; adds 7.4 lakh shares
  DLF dn 3.4%; adds 6.9 lakh shares
• Long Unwinding:
  Nagarjuna Fert dn 4.8%; sheds 12 lakh shares
  Chambal Fert dn 4.4%; sheds 12 lakh shares
  Praj dn 4.85; sheds 12 lakh shares
• Lond Build up:
  Ranbaxy up 2.5%; adds 6.5 lakh shares
  Zee Ent  up 3.5%; adds 5.5 lakh shares
• Roll Overs pick Up:
  NDTV             53%
  IDBI               19%
  Power Grid     16%
  NTPC             15%
  Unitech          14%
  Ranbaxy        14%

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