Wed, Mar 20, 2013 at 17:30 PM
Markets tanked on economic reforms concerns.
Markets closed lower, amid political uncertainty, on concerns that economic reforms might take a bow after DMK withdrew its support from the ruling UPA government. Sensex closed down by 123.91 points or 0.65% at 18,884.19, after opening almost flat up by 18.36 points or 0.10% at 19,026.46 and striking a high of 19,028.09 and a low of 18,836.77, while Nifty closed down by 51.55 points or 0.90% at 5,694.40, after opening marginally down by 5.40 points or 0.09% at 5,740.55 and touching a high of 5,745.30 and a low of 5,682.30 in the day.
Sectoral wise, FMCG index advanced up by 0.67%, IT inched up by 0.12%, Auto tad up by 0.07% while Consumer Durables almost flat up by 0.01%. Realty crashed down by 4.67%, Power, PSU, Bankex and Capital Goods dropped down between 2.70%-2% each, Metal and Oil & Gas declining by 1.33%-1.11% while Healthcare almost flat down by 0.05%. In broader markets, Mid-cap index dropped down by 1.90%, while Small-cap slumped by 2.32%.
Major stock gainers were,Hindustan Unilever surged up by 3.37%, Tata Motors and Cipla Limited advanced up by 1.51%-1.47% each, Tata Consultancy Services, Tata Power Company, ITC, Hero Motocorp, Infosys, Bajaj Auto and Dr. Reddys Laboratories gaining between 0.80%-0.20% respectively, while Sun Pharmaceuticals was marginally up by 0.05%.
Major stock losers were, Bharti Airtel slumped down by 4.18%, State Bank of India and NTPC dropped down by 3.87%-3.43%, ICICI Bank Limited, Hindalco Industries, ONGC, BHEL and Larsen & Toubro declining between 3%-2% respectively, Maruti Suzuki, Tata Steel Limited and Gail (India) fell between 2%-1% each, HDFC Bank Limited, Sterlite Industries, Jindal Steel & Power Limited, Mahindra & Mahindra, HDFC and Reliance Industries Limited declined between 1%-0.30% each, while Coal India Limiited marginally down by 0.10%.
HDIL tanked by 19.90%, after CARE (Credit Analysis and Research Ltd )credit agency downgraded the its debt, citing "delays in servicing" obligations.
Zee Entertainment Enterprises Ltd slumped by 5.16%, after Goldman Sachs downgraded it from "Buy" to "Neutral" stating that the stock appeared "fairly valued" given macro headwinds that could hurt advertisement spending.
Bharti Airtel Limited extending its previous loss and closed down by 4.18%, on reports of Sunil MIttal, Chairman and Managing Director of the company being summoned by the 2G Trial Court in the additional spectrum allocation case.
Overall market breadth was firm negative with 2,126 shares declined compared to 761 shares advanced, while 118 shares remained unchanged.
Markets tanked on economic reforms concerns.
Markets closed lower, amid political uncertainty, on concerns that economic reforms might take a bow after DMK withdrew its support from the ruling UPA government. Sensex closed down by 123.91 points or 0.65% at 18,884.19, after opening almost flat up by 18.36 points or 0.10% at 19,026.46 and striking a high of 19,028.09 and a low of 18,836.77, while Nifty closed down by 51.55 points or 0.90% at 5,694.40, after opening marginally down by 5.40 points or 0.09% at 5,740.55 and touching a high of 5,745.30 and a low of 5,682.30 in the day.
Sectoral wise, FMCG index advanced up by 0.67%, IT inched up by 0.12%, Auto tad up by 0.07% while Consumer Durables almost flat up by 0.01%. Realty crashed down by 4.67%, Power, PSU, Bankex and Capital Goods dropped down between 2.70%-2% each, Metal and Oil & Gas declining by 1.33%-1.11% while Healthcare almost flat down by 0.05%. In broader markets, Mid-cap index dropped down by 1.90%, while Small-cap slumped by 2.32%.
Major stock gainers were,Hindustan Unilever surged up by 3.37%, Tata Motors and Cipla Limited advanced up by 1.51%-1.47% each, Tata Consultancy Services, Tata Power Company, ITC, Hero Motocorp, Infosys, Bajaj Auto and Dr. Reddys Laboratories gaining between 0.80%-0.20% respectively, while Sun Pharmaceuticals was marginally up by 0.05%.
Major stock losers were, Bharti Airtel slumped down by 4.18%, State Bank of India and NTPC dropped down by 3.87%-3.43%, ICICI Bank Limited, Hindalco Industries, ONGC, BHEL and Larsen & Toubro declining between 3%-2% respectively, Maruti Suzuki, Tata Steel Limited and Gail (India) fell between 2%-1% each, HDFC Bank Limited, Sterlite Industries, Jindal Steel & Power Limited, Mahindra & Mahindra, HDFC and Reliance Industries Limited declined between 1%-0.30% each, while Coal India Limiited marginally down by 0.10%.
HDIL tanked by 19.90%, after CARE (Credit Analysis and Research Ltd )credit agency downgraded the its debt, citing "delays in servicing" obligations.
Zee Entertainment Enterprises Ltd slumped by 5.16%, after Goldman Sachs downgraded it from "Buy" to "Neutral" stating that the stock appeared "fairly valued" given macro headwinds that could hurt advertisement spending.
Bharti Airtel Limited extending its previous loss and closed down by 4.18%, on reports of Sunil MIttal, Chairman and Managing Director of the company being summoned by the 2G Trial Court in the additional spectrum allocation case.
Overall market breadth was firm negative with 2,126 shares declined compared to 761 shares advanced, while 118 shares remained unchanged.
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