Markets extend losses in late trade
Markets remained range bound for most of the session. But with profit booking setting in late trade, the indices slipped deep into the red. Nifty closed at 5,781, down 127 points, while the Sensex shut shop at 19,281, down 353 points.It was a disappointing close for markets and they ended in red, after a highly volatile session. The midcap and smallcap indices, which were trading with hefty gains in the morning, came off significantly from the day's high.
Sensex was down 352.56 points or 1.80% at 19280.80, and the Nifty down 126.75 points or 2.15% at 5780.90.
IT stocks extended losses in late trade on concerns over the US economy. Infosys (down 3.99% to Rs 1,555), Tata Consultancy Services (down 2.65% to Rs 962), Wipro (down 1.95% to Rs 448.50) and Satyam Computer Services (down 1.57% to Rs 416) edged lower.
State Bank of India (SBI) declined 1.08% to Rs 2,280. As per reports it is seeking to expand its foothold beyond immediate associate banks by possibly absorbing UCO Bank and Dena Bank. UCO Bank jumped 7.99% to Rs 61 and Dena Bank soared 5.46% to Rs 92.75.
ICICI Bank (down 1.33% to Rs 1,171.05) and HDFC Bank (down 1.04% to Rs 1,638) edged lower.
Index heavyweight and India’s largest private sector firm by market capitalisation Reliance Industries was down 1.74% to Rs 2,803, off session's high of Rs 2,857.80.
Capital goods stocks declined. Bharat Heavy Electricals (down 4.65% to Rs 2,654.20), Suzlon Energy (down 2.54% to Rs 2,041.05) and Larsen & Toubro (down 0.73% to Rs 4,336.35) edged lower.
Power stocks fell. Tata Power Company (down 4.09% to Rs 1,220.05), NTPC (down 1.58% to Rs 261.40) and Reliance Energy (down 1.27% to Rs 1,804), edged lower.
Realty stocks declined. DLF declined 3.78% to Rs 912. Merrill Lynch (ML) has reportedly acquired 49% equity stake in seven residential projects of DLF for Rs 1,481 crore.
Unitech declined 4.64% to Rs 379.90, on reports the company foraying into Mumbai with a commercial project spread over 80 acre near the Bandra Kurla complex. However Indiabulls Real Estate rose 0.68% to Rs 663.50.
Tata Motors (up 0.77% to Rs 708), ACC (up 0.38% to Rs 1,088), Hindustan Unilever (up 0.34% to Rs 205.50), Tata Steel (up 0.25% to Rs 864.90) and Bajaj Auto (up 0.16% to Rs 2,430) edged higher.
Hindalco Industries (down 5.5% to Rs 194.15), Bharat Heavy Electricals (down 4.65% to Rs 2,654.20), Maruti Suzuki (down 4.11% to Rs 1,010.25) and Grasim Industries (down 3.48% to Rs 3,735) edged lower.
Jindal Stainless was the top gainer from A group and rose 15.29% to Rs 204. Fertilisers and Chemicals Travancore (up 4.95% to Rs 47.70), D- Link (India (up 4.54% to Rs 91), MIRC Electronics (up 4.36% to Rs 33.50), Nirma (up 4.02% to Rs 220) were other major gainers from A group.
Sensex was down 352.56 points or 1.80% at 19280.80, and the Nifty down 126.75 points or 2.15% at 5780.90.
IT stocks extended losses in late trade on concerns over the US economy. Infosys (down 3.99% to Rs 1,555), Tata Consultancy Services (down 2.65% to Rs 962), Wipro (down 1.95% to Rs 448.50) and Satyam Computer Services (down 1.57% to Rs 416) edged lower.
State Bank of India (SBI) declined 1.08% to Rs 2,280. As per reports it is seeking to expand its foothold beyond immediate associate banks by possibly absorbing UCO Bank and Dena Bank. UCO Bank jumped 7.99% to Rs 61 and Dena Bank soared 5.46% to Rs 92.75.
ICICI Bank (down 1.33% to Rs 1,171.05) and HDFC Bank (down 1.04% to Rs 1,638) edged lower.
Index heavyweight and India’s largest private sector firm by market capitalisation Reliance Industries was down 1.74% to Rs 2,803, off session's high of Rs 2,857.80.
Capital goods stocks declined. Bharat Heavy Electricals (down 4.65% to Rs 2,654.20), Suzlon Energy (down 2.54% to Rs 2,041.05) and Larsen & Toubro (down 0.73% to Rs 4,336.35) edged lower.
Power stocks fell. Tata Power Company (down 4.09% to Rs 1,220.05), NTPC (down 1.58% to Rs 261.40) and Reliance Energy (down 1.27% to Rs 1,804), edged lower.
Realty stocks declined. DLF declined 3.78% to Rs 912. Merrill Lynch (ML) has reportedly acquired 49% equity stake in seven residential projects of DLF for Rs 1,481 crore.
Unitech declined 4.64% to Rs 379.90, on reports the company foraying into Mumbai with a commercial project spread over 80 acre near the Bandra Kurla complex. However Indiabulls Real Estate rose 0.68% to Rs 663.50.
Tata Motors (up 0.77% to Rs 708), ACC (up 0.38% to Rs 1,088), Hindustan Unilever (up 0.34% to Rs 205.50), Tata Steel (up 0.25% to Rs 864.90) and Bajaj Auto (up 0.16% to Rs 2,430) edged higher.
Hindalco Industries (down 5.5% to Rs 194.15), Bharat Heavy Electricals (down 4.65% to Rs 2,654.20), Maruti Suzuki (down 4.11% to Rs 1,010.25) and Grasim Industries (down 3.48% to Rs 3,735) edged lower.
Jindal Stainless was the top gainer from A group and rose 15.29% to Rs 204. Fertilisers and Chemicals Travancore (up 4.95% to Rs 47.70), D- Link (India (up 4.54% to Rs 91), MIRC Electronics (up 4.36% to Rs 33.50), Nirma (up 4.02% to Rs 220) were other major gainers from A group.
Labels: Nifty.Sensex
posted by SY at 5:49 PM
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