Sensex shed some losses post Rajan's clarification
Published: 20th September 2013 02:18 PM
Last Updated: 20th September 2013 02:18 PM
Indian marketspared some of its losses in the post noon tradeon
Fridayafterthe Reserve Bank of India (RBI) Governor Raghuram Rajan
has clarified that the RBI is neutral about future interest rate
action andpolicywill go either way depending on the economic
The RBI unexpectedly raised repo rate by 25 bps to 7.5%. The RBI
gave clear signal that inflation is top priority, which climbed
above 6% last month. The market participants were expecting status
quo on the policy rates. On the other hand, reduction in the
marginal standing facility (MSF) rate by 75 bps from 10.25% to 9.5%
was on expected line to ease liquidity in the banking system.
At 1.10 pm, the Sensex was trading down 403.23 points or 1.95%
at 20,243.41 with 24 components falling. Meanwhile, the Nifty was
trading lower by 133.60 points or 2.18% at 5,981.95 with 41
I C I C I Bank contributed fall of
78.05 points in the Sensex. It was followed by H D F C Bank (52.67
points), Larsen & Toubro (47.43 points), Housing Development
Finance Corporation (35.31 points) and Oil & Natural Gas
Corporation (31.19 points).
However, Sun Pharmaceutical Industries contributed rise of 10.19
points in the Sensex. It was followed by Wipro (3.4 points),
Reliance Communications (0.47 points), Bharat Heavy Electricals
(0.37 points) and Sterlite Industries (India) (0 points).
Biggest gainers in the 30-share index were Sun Pharmaceutical
Industries (2.15%), Wipro (1.20%), G A I L (India) (0.96%), Dr
Reddy"S Laboratories (0.81%), Bharat Heavy Electricals (0.19%), and
Jindal Steel & Power (0.08%).
On the other hand, I C I C I Bank (4.83%), Larsen & Toubro
(4.67%), Hindustan Unilever (4.06%), State Bank Of India (4.02%),
Hero Motocorp (3.76%), and Maruti Suzuki India (3.70%) were the
major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger
counterparts declining-1.32% and -0.89% respectively.The major
losers in the BSE Midcap were Allahabad Bank(5.64%), Aban Offshore
(3.46%), Alstom India (1.81%), Amara Raja Batteries (1.37%) and
Amtek Auto (0.16%).The major losers in the BSE Smallcap were Action
Construction Equipment (1.85%), Trident (1.79%), Adhunik Metaliks
(0.7%), Aarti Industries (0.63%) and A2Z Maintenance &
Engineering Services (0.3%).
Sectors in Limelight
The Realty index was at 1,292.22, down by 84.83 points or by
6.16%. The major losers were D L F (10.71%), Indiabulls Real Estate
(6.54%), Housing Development and Infrastructure (6.29%), Anant Raj
(5.74%) and Oberoi Realty (1.76%).
The Bankex index was at 12,171.63, down by 526.2 points or by
4.14%. The major losers were Bank Of India(5.79%), Bank Of Baroda
(4.79%), Canara Bank (4.6%), Federal Bank (3.38%) and H D F C Bank
The Capital Goods index was at 8,051.88, down by 272.37 points
or by 3.27%. The major losers were Bharat Electronics (4.39%), BEML
(3.87%), F A G Bearings India (2.8%), A B B India (1.92%) and
Alstom India (1.81%).
On the other hand, the HC index was at 9,350.79, up by 35.59
points or by 0.38%. The major gainers were Lupin (1.76%), Glaxo
SmithKline Pharmaceuticals (1.69%), Cadila Healthcare (1.02%), Dr
Reddy"S Laboratories (0.81%) and Divis Laboratories (0.24%).
Market breadth was negative with 682 advances against 1,415
Value and Volume Toppers
Yes Bank topped the value chart on the BSE with a turnover of
Rs. 1,566.80 million. It was followed by State Bank Of India (Rs.
1,263.76 million), Axis Bank (Rs. 578.17 million) and Ranbaxy
Laboratories (Rs. 438.48 million).
The volume chart was led by Cals Refineries with trades of over
4.99 million shares. It was followed by TV18 Broadcast (4.57
million), Yes Bank (4.34 million) and Reliance Power (3.77