Even as the global cues were strong for the day and there was positive trigger in the form of cabinet approval on financial sector reforms, the markets traded lower during the day. In fact, it was a volatile trading session. Few minutes into the trading session, circuit filter got triggeredafter Niftywitnessed afree-fall ofnearly 900 points due toerroneous sell orders worth Rs 6.50billion executed by Emkay Global Financial Services. Trading in the cash market was frozen after the steep fall triggered the intra-day circuit filter. In addition to this, profit booking could have been another reason for the market fall. At the close, the benchmark 30-share index, BSE Sensex declined 119.69 points or 0.63% at 18,938.46 with 18 components posting drop. Meanwhile, the broad based NSE Nifty fell by 40.65 points or 0.70% at 5,746.95 with 36 components registering drop.Sectorally, IT and banks were losers while gainers included Auto and Metals. The fall was more pronounced in the mid and small-cap stocks.Commenting on the outlook, Sanjeev Zarbade, Vice President (Private Client Group Research), Kotak Securities "The monthly jobs data for September is expected today in the US, which will be closely watched. Going into the next week, we have the IIP and Inflation data on the cards. Post that, the earnings numbers would start trickling in. Post the rally, market valuations are reasonable. The retail interest in the market is returning, which is a welcome sign." Sensex Movers
Housing Development Finance Corporation contributed fall of 69.38 points in the Sensex. It was followed by Infosys (27.8 points), ICICI Bank (23 points), HDFC Bank (20.02 points) and Sun Pharmaceutical Industries (8.19 points).
However, Tata Motors contributed rise of 13.93 points in the Sensex. It was followed by Hindustan Unilever (10.92 points), Reliance Industries (9.81 points), Larsen & Toubro (8.64 points) and Oil & Natural Gas Corporation (8.14 points).
Biggest gainers in the 30-share index were Tata Motors (2.24%), Hindustan Unilever (1.60%), Mahindra & Mahindra (1.16%), Oil & Natural Gas Corporation (1.09%), Hindalco Industries (0.89%), and Larsen & Toubro (0.83%).
On the other hand, Housing Development Finance Corporation (4.89%), Sun Pharmaceutical Industries (2.48%), Wipro (2.41%), Infosys (1.84%), ICICI Bank (1.57%), and Dr Reddy"S Laboratories (1.44%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -0.79% and -0.90% respectively.The major losers in the BSE Midcap were Aban Offshore (2.66%), ABG Shipyard (2.41%), Alstom India (2.17%), Allcargo Logistics (1.25%) and CORE Education and Technologies (0.66%).The major losers in the BSE Smallcap were A2Z Maintenance & Engineering Services (5.31%), Trident (4.74%), Action Construction Equipment (4.73%), Styrolution ABS (India) (1.28%) and Aarti Industries (0.94%).
Sectors in Limelight
The TECk index was at 3,413.88, down by 57.15 points or by 1.65%. The major losers were Reliance MediaWorks (2.96%), Dish TV India (2.88%), Idea Cellular (2.56%), Bharti Airtel (1.37%) and Mphasis (0.88%).
The IT index was at 5,910.93, down by 97.12 points or by 1.62%. The major losers were HCL Technologies (2.74%), Hexaware Technologies (1.52%), Oracle Financial Services Software (1.12%), Mphasis (0.88%) and CORE Education and Technologies (0.66%).
The HC index was at 7,427.15, down by 105.83 points or by 1.4%. The major losers were Aurobindo Pharma (3.74%), Biocon (2.67%), Cadila Healthcare (1.26%), Cipla (0.61%) and Apollo Hospitals Enterprise (0.23%).
On the other hand, the Consumer Durables index was at 7,160.59, up by 47.09 points or by 0.66%. The major gainers were Blue Star (9.02%), Gitanjali Gems (4.89%), Titan Industries (0.71%) and Rajesh Exports (0.29%).
Market Breadth
Market breadth was negative with 1,121 advances against 1,804 declines.
Value and Volume Toppers
Housing Development Finance Corporation topped the value chart on the BSE with a turnover of Rs. 18,832.60 million. It was followed by Motilal Oswal Financial Services (Rs. 2,809.42 million), Shree Cement (Rs. 2,267.40 million) and State Bank Of India (Rs. 1,868.37 million).
The volume chart was led by Housing Development Finance Corporation with trades of over 25.12 million shares. It was followed by Motilal Oswal Financial Services (23.44 million), Lanco Infratech (11.88 million) and Housing Development and Infrastructure (8.16 million).
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