Nifty breaches 5000; ITC, L&T, Tata Motors, BHEL down 4-5%

The BSE Sensex and NSE Nifty tumbled over 2% each due to consistent fall in banks, auto, metals and technology stocks. The Indian rupee too extended its downtrend, losing 35 paise to 53.26 a dollar.
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May 08, 2012, 03.17 PM | Source: Moneycontrol.com

Nifty breaches 5000; ITC, L&T, Tata Motors, BHEL down 4-5%

The BSE Sensex and NSE Nifty tumbled over 2% each due to consistent fall in banks, auto, metals and technology stocks. The Indian rupee too extended its downtrend, losing 35 paise to 53.26 a dollar.

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Nifty breaches 5000; ITC, L&T, Tata Motors, BHEL down 4-5%

The BSE Sensex and NSE Nifty tumbled over 2% each due to consistent fall in banks, auto, metals and technology stocks. The Indian rupee too extended its downtrend, losing 35 paise to 53.26 a dollar.

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14:53
The BSE Sensex and NSE Nifty tumbled over 2% each due to consistent fall in banks, auto, metals and technology stocks. The Indian rupee too extended its downtrend, losing 35 paise to 53.26 a dollar.

The BSE benchmark went down 369 points or 2.18% to 16,544 and the NSE benchmark was down 114.6 points or 2.24% to 4,999.55. European markets too stayed lower - France's CAC dropped 1.7% and Germany's DAX declined 0.7% while Britain's FTSE fell 0.15%.

Back home, country's largest private sector lender by market cap HDFC Bank and capital goods major Larsen & Toubro tanked 3-4%.

Top lenders State Bank of India and ICICI Bank were down 2-3%. Steel stocks Tata Steel, Jindal Steel and Sterlite Industries dropped 3% each.

State-owned BHEL extended its fall, losing 5%. Among auto stocks, Tata Motors, Hero Motocorp, Bajaj Auto and M&M were down 2-4%.

Technology major TCS crashed 5.77% after rival Cognizant cut its revenues guidance for CY12. Infosys and Wipro declined 1.5-2%.

ITC, which gained 2% at one point of time today, plunged 4%.

However, shares of Hindalco Industries, India's largest aluminium producer gained 1.3% after it has reported better than expected numbers for the fourth quarter of FY12. Company's net profit fell 9.65% to Rs 640 crore for January-March quarter of 2012 versus Rs 708.4 crore in a year ago period.

Crude oil prices too declined - Brent crude was down 0.5% and NYMEX crude fell 1%.

13:49
The BSE Sensex and NSE Nifty lost over 1% in afternoon trade led by further sharp fall in Tata Consultancy Services (tanked 5.6% to Rs 1202 a share). The Indian rupee, which gained nearly 2% since yesterday's low, too depreciated; it declined 18 paise to 53.09 a dollar.

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13:22
The BSE Sensex falls 0.73%, while the Nifty loses 0.73% led by fall in tech shares and Reliance Industries.

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12:28
The BSE Sensex shed 150 points again amid choppy trade as country's largest software services exporter Tata Consultancy Services tumbled 5% after the US based Cognizant cut its revenues guidance for CY12 to 20% from 23%. Its rivals Infosys and Wipro were down 2-2.7%.

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11:17
The BSE Sensex and NSE Nifty pared losses led by recovery in banks, capital goods and metals stocks. FMCG stocks too extended gains whereas the fall in technology stocks capped the recovery.

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10:07
The BSE Sensex fell 1% due to fall in capital goods, banks, metals and technology stocks. Even the NSE Nifty dropped below the 5100 level led by 32 components.

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09:46
SENSEX-NIFTY-INFOSYS-WIPRO-TCS-GAAR:BSE Sensex falls; tech sector hit

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09:08
The BSE Sensex and NSE Nifty opened flat on Tuesday after seeing a sharp swing yesterday. Even US and Asian markets were sideways in trade.

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Nifty breaches 5000; ITC, L&T, Tata Motors, BHEL down 4-5%

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