August 16, 2013

Market Pulse - 16 Aug, 2013

Market Pulse 16 Aug 2013Markets crashed by 769.41 points, marking its biggest fall in last four years, snapping its four-days consecutive gains to end at 18,598 on fresh concerns of US Federal stimulus withdrawl, amid heavy selling by Foreign Institutional Investors (FII) after RBI's (Reserve Bank of India) imposed fresh restrictions and Rupee tumbling to record low of 62 a dollar. The S&P BSE Sensex plunged by 769.41 points or 3.97% to 18,598.17 while CNX Nifty slipped by 234.45 points or 4.08% to 5,507.83.

Among sectoral indices there was heavy sellings all round the counter, with Consumer Durables suffered most by plunging down by 8.38%, followed by Realty index dropping by 6.07%, Metal index felling by 5.56% and Bankex declining by 5.55%. Capital Goods, FMCG, Auto and IT were other sectoral indices declining on the counter. In the broader market, the BSE Mid-cap index ended down 2.7% and the Small-cap index ended 2.1% lower.

The plunge in the markets were led by financials, capital goods and index heavyweights. Consumer Durables index was the top loser among sectoral indices on the BSE down 8.4% followed by Realty, Metal, Bankex, Capital Goods, Oil & Gas, FMCG, Auto and IT indices down 2-6% each.

Major index gainers was the lone Hero MotoCorp advancing up by 2.40%.

Major index losers were, BHEL crashing by 10.70%, Sterlite Ind fell by 6.65%, ONGC down by 6.06%, GAIL (India) fell by 6.49%, Jindal Steel down by 5.46%, L&T slipped by 5.19%, HDFC, HDFC Bank and ICICI Bank lost by 5.81%, 5.05% and 5.02%, Reliance Industries skid by 4.62%, Maruti Suzuki fell by 4.84% and SBI declining by 3.32%.

The overall market breadth ended weak with 1,583 shares losings as compared to 729 gainings on the BSE.

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