Indian markets declined further as European market opened in the red and lower revenue guidancereported byIT major Infosys. IT and capital goodsstocks led the decline.
At 12.56 p.m., the Sensex was trading down 114.41 points or 0.61% at 18,690.34 with 15 components falling. Meanwhile, the Nifty was trading lower by 25.65 points or 0.45% at 5,682.40 with 28 components falling.
India"s second biggest software exporter, Infosys today reported consolidated net profit after tax of Rs 23.69 billion for the quarter ended Sept. 30, 2010; QoQ growth was 3.5%; YoY growth was 24.29%. Its consolidated revenues were Rs 98.58 billion for the quarter ended Sept. 30, 2010; QoQ growth was 2.52%; YoY growth was 21.72%.
European stocks declined amid concerns global growth remains weak and ahead ofindustrial output report for the euro region. U.S. index futures and Asian shares gained
The 30-share benchmark index, BSE Sensex opened with a decline of 77.65 points or 0.41% at 18,727.10, while the broad based NSE Nifty started with a fall of 26.35 points or 0.46%, at 5,681.70.
Sensex Movers
Infosys contributed fall of 77.37 points in the Sensex. It was followed by ICICI Bank (13.84 points), Housing Development Finance Corporation (9.46 points), Larsen & Toubro (7.85 points) and ITC (6.86 points).
However, Tata Consultancy Services contributed rise of 9.65 points in the Sensex. It was followed by HDFC Bank (7.21 points), ACC (5.16 points), Reliance Communications (4.28 points) and Grasim Industries (2.7 points).
Major gainers in the 30-share index were GAIL (India) (1.32%), Tata Consultancy Services (1.07%), Jindal Steel & Power (0.88%), Cipla (0.83%), HDFC Bank (0.52%), and Tata Steel (0.51%).
On the other hand, Infosys (5.20%), Bharat Heavy Electricals (1.85%), Wipro (1.71%), Dr Reddy"s Laboratories (1.14%), Bharti Airtel (1.09%), and ICICI Bank (0.96%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.45% and 0.57% respectively. The major gainers in the BSE Midcap were Amara Raja Batteries (1.33%), Alstom India (0.55%), CORE Education and Technologies (0.16%), Allcargo Logistics (0.15%) and A B G Shipyard (0.08%).The major gainers in the BSE Smallcap were Advanta India (3.28%), Trident (2.74%), Reliance MediaWorks (1.53%), Action Construction Equipment (0.99%) and Adhunik Metaliks (0.78%).
Sectors in Limelight
The Consumer Durables index was at 7,226.79, up by 74.89 points or by 1.05%. The major gainers were Titan Industries (2.32%), Bajaj Electricals (1.58%), Gitanjali Gems (1.38%), Videocon Industries (0.58%) and Rajesh Exports (0.37%).
The HC index was at 7,568.94, up by 35.64 points or by 0.47%. The major gainers were Aurobindo Pharma (2.82%), Apollo Hospitals Enterprise (2.06%), Cadila Healthcare (1.82%), Cipla (0.83%) and Biocon (0.13%).
The IPO index was at 1,662.23, up by 7.62 points or by 0.46%. The major gainers were Electrosteel Steels (2.51%), Career Point (1.43%), Claris Lifesciences (0.76%), Commercial Engineers and Body Builders Company (0.31%) and Coal India (0.13%).
On the other hand, the IT index was at 5,745.28, down by 135.84 points or by 2.31%. The major losers were Infosys (5.2%), Wipro (1.71%), Tech Mahindra (0.21%) and H C L Technologies (0.03%).
Market Breadth
Market breadth was positive with 1,404 advances against 1,219 declines.
Value and Volume Toppers
Infosys topped the value chart on the BSE with a turnover of Rs. 2,348.49 million. It was followed by State Bank Of India (Rs. 609.72 million), Tata Steel (Rs. 286.90 million) and Karur Vysya Bank , The (Rs. 241.93 million).
The volume chart was led by Kingfisher Airlines with trades of over 6.63 million shares. It was followed by Unitech (5.93 million), TV18 Broadcast (4.15 million) and Cals Refineries (3.53 million).
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