Nifty trades 1% lower; rate sensitives drag
30th October 2012 03:18 PM
Indian equitiescontinues to tradeon Tuesday due to disappointingRBI credit policyannouncement.At 1.57 p.m., the Sensex was trading down 156.70 points or 0.84% at 18,479.12 with 23 components falling. Meanwhile, the Nifty was trading lower by 56.60 points or 1% at 5,609 with 44 components falling.
India's central bank has decided to not to give in to growing political pressure to cut lending rate that caused slowdown in growth. The Reserve Bank of India (RBI) slashed cash reserve ratio (CRR) by 25 bps while leaving lending and borrowing rates unchanged in the second quarter monetary policy review.The 30-share benchmark index, BSE Sensex opened flat with a rise of 6.19 points or 0.03% at 18,642.01, while the broad based NSE Nifty started with a fall of 9.25 points or 0.16%, at 5,656.35.
ICICI Bank contributed fall of 26.57 points in the Sensex. It was followed by Larsen & Toubro (26.3 points), State Bank Of India (24.77 points), Tata Motors (21.96 points) and Reliance Industries (19.86 points).
However, Infosys contributed rise of 16.34 points in the Sensex. It was followed by Hindustan Unilever (9.44 points), Tata Consultancy Services (6.55 points), Wipro (1.58 points) and Bharat Heavy Electricals (1.33 points).
Major gainers in the 30-share index were Hindustan Unilever (1.36%), Infosys (1.23%), Dr Reddy's Laboratories (1.02%), Tata Consultancy Services (0.73%), Wipro (0.65%), and Bharat Heavy Electricals (0.55%).
On the other hand, Tata Motors (3.80%), State Bank Of India (3.63%), Jindal Steel & Power (2.80%), Hero Motocorp (2.71%), Larsen & Toubro (2.39%), and ICICI Bank (1.83%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -1.10% and -1.05% respectively.The major losers in the BSE Midcap were Aban Offshore (1.65%), CORE Education and Technologies (1.61%), Alstom India (1.26%), Allcargo Logistics (1.14%) and Allahabad Bank (0.83%).The major losers in the BSE Smallcap were A2Z Maintenance & Engineering Services (3.47%), Trident (2.11%), Aarti Industries (1.06%), Styrolution ABS (India) (0.35%) and Aanjaneya Lifecare (0.14%).
Sectors in Limelight
The Realty index was at 1,749.87, down by 37.49 points or by 2.1%. The major losers were Housing Development and Infrastructure (4.5%), D B Realty (4.23%), Indiabulls Real Estate (3.73%), DLF (2.09%) and Godrej Properties (0.94%).
The Consumer Durables index was at 6,909.84, down by 147.71 points or by 2.09%. The major losers were Titan Industries (3.13%), Rajesh Exports (2.68%), Whirlpool Of India (2.49%), Blue Star (0.91%) and Bajaj Electricals (0.48%).
The Bankex index was at 12,931.00, down by 249.61 points or by 1.89%. The major losers were Canara Bank(5.16%), Bank Of Baroda (4.96%), Bank Of India (2.02%), Federal Bank (1.45%) and HDFC Bank (0.41%).
On the other hand, the IT index was at 5,706.79, up by 37.82 points or by 0.67%. The major gainers were Infosys (1.23%), Oracle Financial Services Software (1.22%), Tata Consultancy Services (0.73%) and Wipro (0.65%).
Market breadth was negative with 872 advances against 1,788 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,817.54 million. It was followed by United Spirits (Rs. 1,027.69 million), KPIT Cummins Infosystems (Rs. 686.13 million) and ICICI Bank (Rs. 389.81 million).
The volume chart was led by KPIT Cummins Infosystems with trades of over 5.60 million shares. It was followed by Kingfisher Airlines (4.77 million), Veer Energy and Infrastructure (3.10 million) and Housing Development and Infrastructure (2.80 million).
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