The Indian market on Thursday ended in red terrain due to global melt down after shedding some of its earlier loses. Market witnessed some pullback during final trading on some bouts of buying led by eased inflation. However, Finance Minister P Chidambaram’s announcement to enhance liquidity along with RBI’s cut in CRR by 100 bps to 6.5% had not contributed much to lift the sentiment. BSE Sensex went past 10,600 level and NSE Nifty ended below 3,300 mark. The domestic market started the day in deep red on global recession worries. Weak U.S. data renewed fears about sharp global economic slowdown. US retail sales in September tumbled for the third consecutive month to 1.2% month-over-month, which is largest decline in three years. Sales are down 1% as compared to last year, marking the first year-over-year decline since October 2002. Further market continued to trade downward till after noon but marginal recovery in European markets led smart recovery in Indian markets from days low. Market was not able to continue the momentum of its recovery and finally ended lower. On the sectoral front, most of the selling pressure was led by Capital Goods, Oil & Gas, Metal, IT and Auto stocks. However, Reality, FMCG and Bank stocks were in limelight as witnessed most of the selling from these baskets.
Among the Sensex pack 14 ended in red while 16 in green. The market breadth was negative as 1733 stocks closed in red while 834 stocks closed in green and 56 stocks remained unchanged on BSE. The BSE Sensex closed lower by 227.63 points at 10,581.19 and NSE Nifty ended down by 69.1 points at 3,369.3. The BSE Mid Caps and Small Caps closed with loss of 63.35 points at 3,657.13 and by 107.09 points at 4,286.36. The BSE Sensex touched intraday high of 10,787.2 and intraday low of 10,017.8. Wholesale price index reduced to 11.44% for the week ended 4th October 2008, as against the previous week’s 11.80% mainly due to cooling off global commodity prices. Losers from BSE Sensex pack are Hindalco (12.15%), Tata Motors (11.17%), TCS Ltd (8.64%), Grasim Indus (8.05%), Relaince (8.03%), L&T Ltd (7.55%), M&M Ltd (6.71%), BHEL (5.83%), Infosys Tech (4.85%), ONGC Ltd (4.22%) and HDFC Bank (4.15%). Gainers from BSE Sensex pack are Reliance Communication Ltd (9.80%), DLF Ltd (8.25%), HUL (7.22%), HDFC (5.17%), SBI (3.13%), JP Associates (2.82%), Sterlite Indus (2.21%), HDFC (6.90%), Bharti Airtel (1.76%) and ITC Ltd (1.03%). The BSE Capital Goods index closed lower by 423.21 points at 7,664.8. Losers are Suzlon Energy (8.91%), L&T Ltd (7.55%), Usha Martin (5.92%), Lakshmi MA W (5.84%), BHEL (5.83%) and Ealchand Industries (4.78%). The BSE Oil & Gas index plunged 403.1 points to close at 6,827.77 as Cairn Ind (8.29%), Reliance (8.03%), ONGC Ltd (4.22%), Reliance Petroleum (3.49%) and Essar Oil Ltd (3.11%) ended in negative territory. The BSE Metal index tumbled 135.98 points to close at 6,379.87. Major losers are Nalco (14.14%), Hindalco (12.15%), JSW Steel (5.53%), Tata Steel (1.28%) and Jindal Saw (1.01%). The BSE Auto index ended down by 113.55 points at 3,195.91. Losers are Tata Motors (11.17%), Exide Indus (7.24%), Bharat Forge (6.84%), M&M Ltd (6.71%), Apollo Tyre (5.56%) and Excorts Ltd (4.56%). The IT index lost 111.02 points to close at 2,669.17 as Financ Tech (10.17%), TCS Ltd (8.64%), Rolata India (8.28%), Tech Mahindra (5.70%), Oracle Fin (5.46%) and Infosys Tech (4.85%) in negative territory. The BSE Reality index gained 137.78 points to close at 2,813.26. Major gainers are DLF Ltd (8.25%), Housing Dev (7.22%), Unitech Ltd (6.88%), Ansal Infra (5.66%), Sobah Dev (5.34%) and Mahindra Life (4.29%). Ravichandran K. www.kences1.blogspot.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
