Topsy turvy
The BSE Sensex settled with sharp losses after rallying for the past four consecutive sessions, on intense selling pressure.
It had plunged around 500 points in mid afternoon trades on intense selling pressure to touch an intra-day low of 13237.39, but recovered as value buying emerged at lower levels.
The 30-shares BSE Sensex ended with sharp 349.08-point (2.54%) fall at 13,382.01. Its high for the day was at 13748.62. It oscillated sharp 511.23 points during the day, with high volatility.
The S&P CNX Nifty lost 96.75 points (2.46%) to 3832.
Thai stocks plunged the most in 16 years, triggering declines across Asia's emerging markets, after the central bank said international investors will have to pay a 10% penalty on funds withdrawn out of the country within a year. The new rules, announced yesterday by central bank Governor Tarisa Watanagase, are aimed at stemming a 16% gain in the Baht this year. The Thai currency had its biggest two-day decline since April 2005. Stocks from Malaysia, Indonesia and the Philippines also declined after the Thai central bank's currency controls heightened concern about emerging markets.
Back home, the data showing substantial FII sales on Monday (18 December) also dampened the sentiment today.
The total turnover on BSE amounted to Rs 4114 crore.
Market breadth was negative on BSE, with 1.8 losers for every gainer, as selling pressure emerged for small-cap and mid-cap stocks. On BSE, 1641 shares declined as compared to 919 that advanced. 69 remained unchanged.
All the Asian markets were trading with losses except China’s Shanghai Composite, which was up 1.36%. Japanese stocks declined for the first time in seven days, led by brokerages such as Daiwa Securities Group Inc., after the nation's securities watchdog recommended Nikko Cordial Corp. be fined because of false earnings statements. The Japanese Nikkei 225 index was down 1.09% while the Hang Seng index lost 1.19%. The Bank of Japan today kept interest rates unchanged at 0.25%.
Among the 30-member Sensex pack, 29 declined while Hero Honda (up 0.89% to Rs 757) was the lone gainer.
PSU engineering major Bhel was the top loser, down 5.39% to Rs 2262.35 on 6.40 lakh shares. It had lost 4.21% on Monday (18 December). Market men attribute this fall to likely loss of equipment orders for the upcoming ultra mega power projects the bids for which were opened on Monday. According a report by domestic brokerage, Bhel’s cost competitiveness for supercritical equipment comes under question given the large disparity in bid prices between the lowest bidder, Lanco (at Rs 1.19 per unit) and NTPC (at Rs 2.1/unit). Reports suggest that Lanco had tied up with Chinese equipment supplier Dongfang, while NTPC had tied up with Bhel for ultra mega power project.
NTPC slumped 5.05% to Rs 133.60 on high volumes of 26.17 lakh shares. The stock moved in a range of Rs 132.70 –142.
Reliance Communications (down 4.80% to Rs 445.45), L&T (down 4.21% to Rs 1410) and ACC (down 3.82% to Rs 1013) were the other losers.
Index heavyweight Reliance industries (RIL) was down 3.20% to Rs 1248 on 17.42 lakh shares notwithstanding reports that Reliance Industries and its partner Niko Resources have discovered huge oil in the hydrocarbon rich Krishna-Godavari basin. It had slipped to a low of Rs 1231.
Tata Steel lost 3.23% to Rs 452.30 on 13.02 lakh shares. It had advanced to a high of Rs 475 following reports the UK Takeover Panel is putting the Corus deal on the fast track by planning to auction Anglo-Dutch steel company to the two rival suitors Tata Steel and Brazil’s CSN.
Reliance Industries (RIL) was the most active counter on BSE with turnover of Rs 219.19 crore followed by Bhel (Rs 147.55 crore) and Tech Mahindra (Rs 128.12 crore).
Madhucon Projects was down 6.81% to Rs 294 on high volumes of 12.07 lakh shares. The counter saw three block deals which were (3.54 lakh shares at Rs 320 per share), (4.42 lakh shares at Rs 305 per share) and (2.98 lakh shares at Rs 303 per share).
As per provisional data, FIIs were net sellers to the tune of Rs 369 crore on Monday (18 December), the day when Sensex had risen 116 points in volatile trade. Their net outflow was Rs 46 crore on Friday 15 December, the day when Sensex had risen 127 points.
FIIs were net buyers to the tune of Rs 307 crore in index-based futures on Monday. They were net sellers to the tune of Rs 26 crore in individual stock futures on that day.
US stocks fell on Monday as investors locked in profits after tumbling oil prices hurt energy shares such as Exxon Mobil Corp., overshadowing gains earlier in the session on news of at least $82 billion in corporate takeovers. The Dow Jones industrial average was down 4.25 points, or 0.03 percent, to end at 12,441.27. The Nasdaq Composite Index was down 21.63 points, or 0.88 percent, to close at 2,435.57.
Oil prices were steady on Tuesday as the market gauged the impact of its biggest slide in a month the day before. On Monday, prices dropped 1.9% as forecasts about warmer-than-normal U.S. weather countered last week's gains. It was the biggest dollar and percentage drop for the front-month contract since 16 November.
Tuesday, light sweet crude for January delivery dropped a penny to US$62.20 a barrel in midday Asian electronic trading on the New York Mercantile Exchange.
It had plunged around 500 points in mid afternoon trades on intense selling pressure to touch an intra-day low of 13237.39, but recovered as value buying emerged at lower levels.
The 30-shares BSE Sensex ended with sharp 349.08-point (2.54%) fall at 13,382.01. Its high for the day was at 13748.62. It oscillated sharp 511.23 points during the day, with high volatility.
The S&P CNX Nifty lost 96.75 points (2.46%) to 3832.
Thai stocks plunged the most in 16 years, triggering declines across Asia's emerging markets, after the central bank said international investors will have to pay a 10% penalty on funds withdrawn out of the country within a year. The new rules, announced yesterday by central bank Governor Tarisa Watanagase, are aimed at stemming a 16% gain in the Baht this year. The Thai currency had its biggest two-day decline since April 2005. Stocks from Malaysia, Indonesia and the Philippines also declined after the Thai central bank's currency controls heightened concern about emerging markets.
Back home, the data showing substantial FII sales on Monday (18 December) also dampened the sentiment today.
The total turnover on BSE amounted to Rs 4114 crore.
Market breadth was negative on BSE, with 1.8 losers for every gainer, as selling pressure emerged for small-cap and mid-cap stocks. On BSE, 1641 shares declined as compared to 919 that advanced. 69 remained unchanged.
All the Asian markets were trading with losses except China’s Shanghai Composite, which was up 1.36%. Japanese stocks declined for the first time in seven days, led by brokerages such as Daiwa Securities Group Inc., after the nation's securities watchdog recommended Nikko Cordial Corp. be fined because of false earnings statements. The Japanese Nikkei 225 index was down 1.09% while the Hang Seng index lost 1.19%. The Bank of Japan today kept interest rates unchanged at 0.25%.
Among the 30-member Sensex pack, 29 declined while Hero Honda (up 0.89% to Rs 757) was the lone gainer.
PSU engineering major Bhel was the top loser, down 5.39% to Rs 2262.35 on 6.40 lakh shares. It had lost 4.21% on Monday (18 December). Market men attribute this fall to likely loss of equipment orders for the upcoming ultra mega power projects the bids for which were opened on Monday. According a report by domestic brokerage, Bhel’s cost competitiveness for supercritical equipment comes under question given the large disparity in bid prices between the lowest bidder, Lanco (at Rs 1.19 per unit) and NTPC (at Rs 2.1/unit). Reports suggest that Lanco had tied up with Chinese equipment supplier Dongfang, while NTPC had tied up with Bhel for ultra mega power project.
NTPC slumped 5.05% to Rs 133.60 on high volumes of 26.17 lakh shares. The stock moved in a range of Rs 132.70 –142.
Reliance Communications (down 4.80% to Rs 445.45), L&T (down 4.21% to Rs 1410) and ACC (down 3.82% to Rs 1013) were the other losers.
Index heavyweight Reliance industries (RIL) was down 3.20% to Rs 1248 on 17.42 lakh shares notwithstanding reports that Reliance Industries and its partner Niko Resources have discovered huge oil in the hydrocarbon rich Krishna-Godavari basin. It had slipped to a low of Rs 1231.
Tata Steel lost 3.23% to Rs 452.30 on 13.02 lakh shares. It had advanced to a high of Rs 475 following reports the UK Takeover Panel is putting the Corus deal on the fast track by planning to auction Anglo-Dutch steel company to the two rival suitors Tata Steel and Brazil’s CSN.
Reliance Industries (RIL) was the most active counter on BSE with turnover of Rs 219.19 crore followed by Bhel (Rs 147.55 crore) and Tech Mahindra (Rs 128.12 crore).
Madhucon Projects was down 6.81% to Rs 294 on high volumes of 12.07 lakh shares. The counter saw three block deals which were (3.54 lakh shares at Rs 320 per share), (4.42 lakh shares at Rs 305 per share) and (2.98 lakh shares at Rs 303 per share).
As per provisional data, FIIs were net sellers to the tune of Rs 369 crore on Monday (18 December), the day when Sensex had risen 116 points in volatile trade. Their net outflow was Rs 46 crore on Friday 15 December, the day when Sensex had risen 127 points.
FIIs were net buyers to the tune of Rs 307 crore in index-based futures on Monday. They were net sellers to the tune of Rs 26 crore in individual stock futures on that day.
US stocks fell on Monday as investors locked in profits after tumbling oil prices hurt energy shares such as Exxon Mobil Corp., overshadowing gains earlier in the session on news of at least $82 billion in corporate takeovers. The Dow Jones industrial average was down 4.25 points, or 0.03 percent, to end at 12,441.27. The Nasdaq Composite Index was down 21.63 points, or 0.88 percent, to close at 2,435.57.
Oil prices were steady on Tuesday as the market gauged the impact of its biggest slide in a month the day before. On Monday, prices dropped 1.9% as forecasts about warmer-than-normal U.S. weather countered last week's gains. It was the biggest dollar and percentage drop for the front-month contract since 16 November.
Tuesday, light sweet crude for January delivery dropped a penny to US$62.20 a barrel in midday Asian electronic trading on the New York Mercantile Exchange.
posted by SY at 5:50 PM
0 Comments:
Post a Comment
<< Home