| he Sensex snapped a three-day winning streak and closed below the 17,000 mark, a psychological mark. The Nifty also slipped below the 5,000 level during the day on the back of weak global cues. All the sectoral indices were in the red barring FMCG; telecom, metal, realty, banking and auto stocks dragged the markets lower while airline shares bucked the trend in the midcap space. The markets started the day on a weak note following weak US and Asian cues. The In Asia, Kospi was down 2.3%, Straits Times down 0.8% and Nikkei down 0.6% while Taiwan Weighted rose 0.35% and Hang Seng up 0.26%. Shanghai will be shut till October 8. European markets and the US index futures were marginally in the green, at the time of writing this report. The 30-share BSE Sensex closed at 16,866.41, down 268.14 points or 1.56% and the 50-share NSE Nifty slipped 1.58% or 80.20 points, to settle at 5003.20. Among the broader indices, the BSE Midcap Index fell 1.7% and the Smallcap Index down 2.1%. Telecom stocks were the major draggers in today's trade. Bharti Airtel plunged over 8% to Rs 400 per share. It traded with volumes of 6,329,429 shares, an increase of 202.60% compared to its 5-day average of 2,091,676 shares. Unwinding of long positions hammered the stock. Bharti-MTN deal was called off last week post disapproval by the South African government. Among the others, Tata Teleservices and Reliance Communication fell 5.6% each. Idea Cellular, MTNL and Tata Communication declined 3.4-4.4%. Grasim Industries was another major loser among the largecaps, down over 7% post the news of cement business demerger. Its volumes jumped 764.04% to 273,526 shares, compared to its 5-day average of 31,657 shares. The company board has approved demerger of cement business into arm Samruddhi; wherein shareholders will get one share of Samruddhi for every one held. Grasim’s stake in Samruddhi will be reduced to 65%. Continued on the next page.... _PAGEBREAK_ On the sectoral front, the BSE Realty index fell 3.5%. TECk, Metal and Bank indices lost 2-2.7%. In the realty space, Orbit Corporation, Parsvnath, Unitech, DLF and Indiabulls Real declined 3-5%. In the metal pack, Hindalco plunged 6.75%. SAIL, Sterlite Industries, Tata Steel and NALCO were down 2-4%. Banking stocks like Axis Bank and SBI fell 3.5-4%. Bank of Baroda was down 2.6% and ICICI Bank down 1.48%. HDFC Bank lost 0.66%. In the auto space, Bharat Forge, Apollo Tyres, Tata Motors, Maruti Suzuki, Ashok Leyland and Bajaj Auto were down 2.3-4.8%. However, M&M gained 0.58% and Hero Honda up 0.30%.
Oil & gas stocks like Cairn India, Reliance Industries and ONGC slipped 1-1.8%. However, GAIL, BPCL and IOC were up 0.5-0.8%. In the power pack, Suzlon Energy plunged 5.5%. Torrent Power, GMR Infra, Reliance Power, GVK Power, Adani Power, NHPC, Tata Power, NTPC and Power Grid Corp were down 0.5-3%. However, Reliance Infrastructure gained 1.26%. Technology stocks like TCS tumbled 2.61%. Tech Mahindra, HCL Tech and Infosys fell 0.3-0.8% while Wipro up 0.26%. In the capital goods space, L&T, Punj Lloyd, BHEL and Siemens were down 0.3-0.6% while ABB went up 0.63%. Pharma stocks like Piramal Healthcare, Dr Reddys Labs, Wockhardt, Dishman Pharma and Ranbaxy Labs declined 1.5-3.5%. However, Lupin, Sun Pharma and Cipla gained 1.4-2.8%. In the FMCG space, ITC rose 2.58%, Nestle up 2.33%, Colgate up 1.13% and HUL up 0.64%. The market breadth remained weak; about 843 shares advanced while 2,058 shares declined on the BSE. Nearly 310 shares remained unchanged. In the midcap space, airline companies' shares witnessed buying interest. Jet Airways shot up 12.88% and Kingfisher Airlines up 4.21%. SpiceJet was up just 0.3%. Among other midcap stocks, Koutons Retail rose 13.70%. Coromandel Fertiliser and Bajaj Finserv went up 3.5% each. However, Asian Star fell 11.55%. KEC International, HMT and Jindal Saw lost 5.5-6%. In the smallcap space, Suashish Diamon locked at 20% upper circuit. Bhagyanagar Industries, UB Holdings, aurionPro Solutions and Adhunik Metalik gained 9-12.5%. However, Ashtavinayak tanked 18.39%. Money Matters, Paper Products, Andrew Yule and Geodesic fell 7-9%. Top percentage gainers - Alchemist, Elnet Tech, Novopan, Cheviot Company and Minda Ind were up 19-20%. Total traded turnover was at Rs 79,766.65 crore. This included Rs 18,318.23 crore from the NSE cash segment, Rs 56,090.77 crore from the NSE F&O and the balance Rs 5,357.65 crore from the BSE cash segment. Continued on the next page.... _PAGEBREAK_ Nifty tests 5000; telecom, metals, realty, banks tank At 15:55 hours IST, the Sensex was not showing any sign of recovery. It slipped further due to sell-off in heavyweights. The Nifty tested the 5,000 mark. Bharti Airtel was the major dragger, down 8.5% on the back of unwinding of long positions. Grasim lost 6.5% and Reliance Communication declined 6%. Among the other largecaps, Suzlon Energy, Idea Cellular, Hindalco, Unitech and Axis Bank were down 4-5%. SAIL, Maruti Suzuki, Tata Communication, DLF, Sterlite Industries, Tata Motors and SBI fell 2-3%. However, select FMCG and select pharma stocks were seeing buying interest. ITC, Reliance Infrastructure, M&M, HDFC and Cipla were up 1-2%. The Sensex tanked 278 points at 16,856 and the Nifty was down 84 points at 4998. The market breadth weakened; about 239 shares advanced while 1045 shares declined on the NSE. The broader indices fell over 1%. All sectoral indices were in the red barring FMCG. On the global front, European markets and the US index futures were marginally in the green. But markets were reacting to the weak US and Asian cues. The benchmark indices and some of the Asian markets were closed on Friday. Disappointing jobs report was the main reason behind fall of over 2% in the US markets in the last two days. Among the sectoral indices, TECk and Realty indices slipped over 3%. Metal Index fell 2.8%. Bank, Auto, Oil & Gas and IT indices fell 1-1.8%. In the midcap space, Koutons Retail and Jet Airways shot up over 13%. Kingfisher Airlines, Bajaj Finserv and EIH were up 4-6% while Jindal Saw, KEC International, HMT, GTL Infra and Exide Industries fell 4.5-5%. In the smallcap space, Suashish Diamon locked at 20% upper circuit. JSL rose 11%. Indo Rama Synthetics, Bhagyanagar Ind and Gujarat Alkali went up 6.5-7.5%. However, Ashtavinayak lost 11%. Paper Products, Escorts, Andrew Yule and JMC Projects fell 5.5-8.5%. Sensex struggles at 17K; Bharti dips 7%, Grasim down 5% At 13:17 hours IST - the Nifty remained under pressure on the back of selling in heavyweights like Bharti Airtel (down 8%), Reliance Industries, ONGC, SBI, Infosys, ICICI Bank, TCS, NTPC and DLF. The Sensex was trading below the 17,000 mark while the Nifty held 5,000 level. On the other side, uptrend in pharma, FMCG and select capital goods stocks was helping the markets. Reliance Infrastructure was the top gainer, up 3%. On the global front, European markets were quiet in trade. But markets were reacting to the weak US and Asian cues. The benchmark indices and some of the Asian markets were closed on Friday. Disappointing jobs report was the main reason behind fall of over 2% in the US markets in last two days. The Nifty declined 54 points, to 5,029 and the Sensex was down 176 points, to 16,957. The BSE Midcap and Smallcap indices fell over 0.5%. Bharti Airtel was down over 8% on unwinding of long positions and trading below Rs 400. Bharti-MTN deal had called off last week post disapproval by South African government. Grasim was down over 5% post the news of cement business demerger. The company board has approved demerger of cement business into arm Samruddhi; wherein shareholders will get one share of Samruddhi for every one held. Grasim’s stake in Samruddhi will be reduced to 65%. On the sectoral front, the BSE TECk tanked 2.4%. Realty, Bank, Oil & Gas, Auto and Metal indices fell 1-1.6%. However, FMCG Index gained 1.3%. In the midcap space, Koutons Retail was up 12% and Jet Airways up 8.31%. Coromandel Fertiliser, Kingfisher Airlines and Bajaj Finserv went up 4-5%. However, KEC International, Bannariamman, Jindal Saw, Asian Star and Exide Industries fell 3.5-4.5%. In the smallcap space, JSL gained 14.31% and Indo Rama Synthetics up 10.61%. Adhunik Metalik, Bhagyanagar Industries and Timken were up 5.5-6.5%. However, Paper Products, Andrew Yule, Ashtavinayak, Bliss GVS and KGN Industries slipped 5-7.5%. Sensex trades lower; banks, realty, oil exploration slip At 12:16 hours IST, the Sensex was trading lower on the back of downtrend in banking, realty, oil & gas exploration, metal, auto (four-wheeler), select telecom and power stocks. It was hovering around the 17,000 mark. However, buying continued in pharma and FMCG shares. The Nifty declined 38 points at 5,044 and the Sensex was down 132 points at 17,003. The broader indices remained marginally down; about 459 shares advanced while 791 shares declined on the NSE. In the banking space, Axis Bank, SBI, Bank of Baroda, ICICI Bank and HDFC Bank were down 0.5-2.5%. Metal stocks like Hindalco, Sterlite Industries, Tata Steel and JSW Steel fell 1.4-2%. SAIL and NALCO slipped 0.3-0.7%. In the auto pack, Ashok Leyland, Maruti Suzuki, Tata Motors, Bharat Forge, Bajaj Auto and Apollo Tyres declined 1-2.5%. Telecom stocks like Bharti Airtel tumbled 3.76%, Tata Communication down 2.23%, Idea Cellular down 1.69%, Tata Teleservices down 1.68% and Reliance Communication down 0.22%. In the technology space, TCS, Wipro, Infosys and HCL Tech fell 0.5-1.5%.Realty stocks like Unitech, DLF, Parsvnath, Orbit Corporation and Indiabulls Real were down 1-2.7%. However, FMCG stocks like Nestle, ITC, Colgate, United Spirits and HUL gained 0.7-2.2%. In the healthcare space, Cipla, Biocon, Lupin, Sun Pharma, Divis Labs and Ipca Labs were up 1-2.5%. Ranbaxy Labs was up 0.40% while Dr Reddys Labs fell 2.34%. Nifty southbound; RIL, Bharti, ONGC, SBI, ICICI Bank drag At 10:57 hours IST, continuous selling in blue chips like RIL, ONGC, Bharti, SBI, NTPC, DLF, ICICI Bank, Reliance Communication, Grasim and Maruti was putting pressure on the Nifty. On the global front, Asian markets were also weak. Straits Times fell 3% and Kospi down 2%. Nikkei was down 0.6%. Hang Seng and Taiwan were flat. However, buying in pharma and technology and stocks like ITC & Jindal Steel capped the losses to some extent. The Sensex slipped 167 points at 16,967 and the Nifty was down 48 points at 5,035. The broader indices were marginally lower. About 429 shares advanced while 779 shares declined on the NSE. In the midcap space, Jet Airways was up 7.45 and Kingfisher Airlines up 4.49%. Mphasis, Bajaj Finserv and Videocon Industries gained 3-4%. However, 3M India, Torrent Power, Exide Industries, Gujarat NRE Coke and Andhra Bank fell 2.5-3%. In the smallcap space, Andhra Cement jumped 13%. JSL, Adhunik Metalik, Dhanuka Agritec and Bhagyanagar Ind went up 6-7.5%. However, Money Matters, 3i Infotech, KGN Industries, Lloyds Metals and Ruchinfra slipped 5% each. Sensex slips on weak global cues; tech, realty, banks dip The Sensex started the first day of week on a negative note following the weak global cues. The US markets were down 2% on Friday on disappointing jobs report. Selling was seen almost across all the sectors. Banking, auto, realty, oil & gas exploration and technology shares were under pressure. At 9:56 am, the Nifty rose 48 points to 5,035 and the Sensex was up 142 points at 16,992. Among the frontliners, ICICI Bank, Sterlite Industries, ACC, Cipla (QIP shares listed today), Maruti Suzuki, Infosys, ONGC and TCS lost ground. Ambuja Cements, HDFC and BHEL were marginally higher. Bharti and Reliance Industries were flat in trade. Grasim's board approved demerger of cement business into arm Samruddhi. Grasim shareholders will get one share of Samruddhi for every one held. Grasim was down 3% while Ultratech was up 1.5%. In the midcap space, Firstsources and Shree Ashtavinayak were down over 0.5%. However, IVR Prime surged 5%. Global Cues: Asian markets were trading lower. Straits Times tanked 3% and Kospi down 1.5%. Nikkei, Taiwan Weighted and Hang Seng were flat. Jakarta fell 0.6%. The S&P 500 witnessed its first two-week decline since July. The Dow Jones Industrial Average lost 225 points in the last 2 days and ended down over 2% on Thursday due to disappointing jobs report. The US markets on Friday: The Dow Jones was down 22 points at 9,488, Nasdaq down 9.4 points at 2,048 and S&P 500 down 4.6 points at 1,025. Market cues: -FIIs net buy USD 314 million in equities on September 30 -NSE F&O Open Int up by Rs 3,077 crore at Rs 87,083 crore -FIIs net buy Rs 976 crore in cash markets on October 1 (prov) -DIIs net sell Rs 332 crore in cash markets on October 1 (prov) -FIIs net buy Rs 36 crore in F&O on October 1 F&O cues: -Futures Open Int up by Rs 1,048 crore -Options Open Int up by Rs 2,030 crore -Nifty Futures remains unchanged -Nifty Futures Open Int up 2%, trading at 14-pt discount -Nifty Open Int PCR at 1.38 versus 1.35 -Nifty IVs at 23-26% -Nifty Puts add 25.3 lakh shares in Open Int -Nifty Calls shed 8.4 lakh shares in Open Int -Nifty 4700 Put adds 6 lakh shares in Open Int -Nifty 4900 Put adds 4 lakh shares in Open Int -Nifty 5000 Put adds 2.6 lakh shares in Open Int -Nifty 5100 Call adds 3.6 lakh shares in Open Int -Nifty March 3800 Put adds 4 lakh shares in Open Int -Stock Futures adds 3 crore shares in Open Int | ||||||||||||||||||||||||||||||||||||||||||
Monday, October 5, 2009
Sensex closes below 17K; telecom, banks, metals drag
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