Indian markets turned negative towards the close on Fridayafter
the Prime Minister speech on the state of the economy in the
Parliament. Indices witnessed a fall as Manmohan Singh's speech
failed to boost confidence.
The Prime Minister has just acknowledged issues surrounding the
economy and reiterated the government's commitment on reforms,
current account deficit and fiscal deficit. In addition, Singh said
the government has no intention to impose capital controls to
correct fall in the rupee.
At 2.22 p.m., the Sensex was trading down 48.75 points or 0.26%
at 18,352.29 with 20 components falling. Meanwhile, the Nifty was
trading lower by 34.40 points or 0.64% at 5,374.65 with 39
Infosys contributed fall of 25.46 points in the Sensex. It was
followed by Reliance Industries (25.02 points), Tata Motors (21.09
points), Oil & Natural Gas Corporation (17.1 points) and I T C
However, Tata Consultancy Services contributed rise of 25.08
points in the Sensex. It was followed by H D F C Bank (23.3
points), Housing Development Finance Corporation (17.97 points),
Hindustan Unilever (6.63 points) and Sun Pharmaceutical Industries
Major gainers in the 30-share index were Cipla (3.91%), Tata
Consultancy Services (2.60%), Bajaj Auto (2.47%), Hero Motocorp
(2.19%), Wipro (1.93%), and HDFC Bank (1.61%).
On the other hand, Jindal Steel & Power (9.02%), Hindalco
Industries (3.98%), Tata Motors (3.48%), Coal India (2.94%), Tata
Power Company (2.66%), and Bharti Airtel (2.16%) were the major
losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap index was at 5280.59 down by 20.13 points or by
0.38%. The major losers were A I A Engineering (2.07%), Alstom
India (1.96%), CORE Education and Technologies (1.89%), Aban
Offshore (0.77%) and A B G Shipyard (0.02%).
The BSE Smallcap index was at 5176.23 down by 4.50 points or by
0.09%. The major losers were Genesys International Corporation
(4.52%), Aarti Industrie (2.32%), Styrolution ABS (India) (1.65%),
Advanta (1.2%) and Aanjaneya Lifecare (1.04%).
Sectors in Limelight
The Metal index was at 7,718.98, down by 228.87 points or by
2.88%. The major losers were Jindal Steel & Power (9.02%),
Hindalco Industries (3.98%), Coal India (2.94%), Hindustan Zinc
(1.29%) and Bhushan Steel (0.76%).
The Oil & Gas index was at 7,979.83, down by 114.79 points
or by 1.42%. The major losers were Oil & Natural Gas
Corporation (2.11%), Cairn India (1.88%), Bharat Petroleum
Corporation (1.87%), G A I L (India) (0.31%) and Indian Oil
The Realty index was at 1,159.64, down by 14.81 points or by
1.26%. The major losers were D L F (3.05%), Parsvnath Developers
(2.82%), Housing Development and Infrastructure (1.49%), Oberoi
Realty (0.89%) and Godrej Properties (0.56%).
Market breadth was negative with 1,016 advances against 1,146
Value and Volume Toppers
Yes Bank topped the value chart on the BSE with a turnover of
Rs. 581.51 million. It was followed by Axis Bank (Rs. 539.00
million), State Bank Of India (Rs. 497.17 million) and Tata
Consultancy Services (Rs. 404.03 million).
The volume chart was led by Syncom Formulations (India) with
trades of over 3.89 million shares. It was followed by Cals
Refineries (3.67 million), IDFC (3.22 million) and Jaiprakash
Associates (2.99 million).