The markets have continued the downtrend as selling pressure in the market continues. Among the top losers were power stocks like Reliance Energy and Tata Power which have seen a dream run. Capital goods, metal and real estate stocks were among the laggards. BHEL, Maruti, Sterlite and Bharti saw deep cut. On the macroeconomic front, inflation came in at a 5 year low after 2002 at 3.07%.
Cues from Asia were not very encouraging as most of the Asian indices were in red.
Midcaps like Reliance Capital, Mercator line and GMR Infrastructure are among the top losers. All the key BSE indices were in red , however IT index ended flat and select telecom stocks were trading in green. Top gainers on the Nifty are VSNL up 4%, MTNL up 1% and Infosys up 1%.
In the capital goods space Jyoti Structure, Kirloskar Oil, Areva T&D are down over 8%. Alstom, ABB, Punj Loyd BHEL are down over 6% each.
It has been avery dramatic and volatile week for the markets. Sensex swung 1950 points and Nifty swung around 635 points. The frontline indices were down 4%
Sensex is down 438.41 points or 2.44% at 17559.98, and the Nifty down 135.70 points or 2.54% at 5215.30.
About 700 shares have advanced, 2301 shares declined, and 50 shares are unchanged.
The BSE Midcap Index ended at 7,238.58 down 2.5%.
The BSE Smallcap Index ended at 8,800.32 down 3%.
The BSE Bankex was down 2% at 8,837.55. Union Bank, SBI, IOB, ICICI Bank, Andhra Bank, Karnataka Bank, Kotak Mahindra, Bank of India moved downwards.
The BSE Capital Goods Index was down 4% at 15,429.29. Punj Lloyd, AIA Engineering, Areva T&D, ABB, BHEL closed lower.
The BSE Auto Index closed at 5,296.93 down 2%. Maruti, Escorts, MRF, Cummins, Tata Motors, Bajaj Auto closed lower.
The BSE Metal Index closed at 14,480.00 down 4%. Sesa Goa, Jindal Steel, Sterlite Ind, Hindalco, Hind Zinc closed lower.
The BSE FMCG Index closed at 2,100.38 down 2%. ITC, United Spirits, Tata Tea, United Brewerie, Colgate, HUL closed lower
BSE Oil and Gas Index closed at 10,242.45 down 3%. RNRL, BPCL, Reliance, Reliance Petro ended in red.
The BSE IT Index was flat at 4,685.91. TCS up 2.5%, HCL Tech up 1.5%, Satyam, Infy up over 1%.
The NSE cash turnover was at Rs 21430.69 crore and the NSE F&O turnover was at Rs 83102.28 crore. The BSE cash turnover was Rs 9665.17 crore. Total market wide turnover was at Rs 114198.14 crore.
