Sensex slips below 20,000 on profit taking
29th January 2013 05:18 PM
Indian equities ended lower with BSE Sensex dipping below the psychological 20,000 mark as investors booked profits in realty and auto stocks after announcement of interest rate cut by the RBI.
At the close, the benchmark 30-share index, BSE Sensex declined 114.47 points or 0.57% at 19,988.88 with 23 components registering drop. Meanwhile, the broad based NSE Nifty went down by 24.90 points or 0.41% at 6,049.90 with 38 components posting drop.India's central bank slashed key interest rates for the first time in 9 months in its monetary policy review on Tuesday as expected by the market participants. The Reserve Bank of India (RBI) reduced repo and reverse repo by 25 bps each to 7.75% and 6.75% respectively. Meanwhile, cash reserve ratio (CRR) has been reduced to 4% from 4.25% earlier.Sensex Movers
H D F C Bank contributed fall of 37.33 points in the Sensex. It was followed by Reliance Industries (31.84 points), Bharti Airtel (13.3 points), State Bank Of India (11.57 points) and Tata Motors (10.93 points).
However, I T C contributed rise of 27.02 points in the Sensex. It was followed by I C I C I Bank (13.83 points), Housing Development Finance Corporation (7.59 points), Jaiprakash Associates (1.91 points) and Hero Motocorp (1.53 points).
Biggest gainers in the 30-share index were Coal India (1.58%), I T C (1.40%), I C I C I Bank (0.87%), Hero Motocorp (0.74%), Housing Development Finance Corporation (0.52%), and Tata Power Company (0.47%).
On the other hand, Hindalco Industries (2.96%), Bajaj Auto (2.85%), H D F C Bank (2.54%), Bharti Airtel (2.38%), G A I L (India) (2.14%), and Tata Steel (2.06%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap index was at 6937.17 down by 38.67 points or by 0.55%. The major losers were Alstom India (3.22%), Aban Offshore (1.75%), Allahabad Bank (1.37%), A B G Shipyard (0.75%) and CORE Education and Technologies (0.51%).
The BSE Smallcap index was at 7096.29 down by 65.76 points or by 0.92%. The major losers were A2Z Maintenance & Engineering Services (3.47%), Adhunik Metaliks (2.79%), Styrolution ABS (India) (2.76%), Aanjaneya Lifecare (1.88%) and Aarti Industries (0.67%).
Sectors in Limelight
The Realty index was at 2,174.71, down by 49.05 points or by 2.21%. The major losers were Indiabulls Real Estate (4.61%), Housing Development and Infrastructure (3.88%), Anant Raj (1.81%), D L F (1.65%) and Godrej Properties (0.39%).
The Oil & Gas index was at 9,308.76, down by 118.11 points or by 1.25%. The major losers were Hindustan Petroleum Corporation (2.49%), G A I L (India) (2.14%), Bharat Petroleum Corporation (1.18%), Cairn India (0.69%) and Castrol India (0.47%).
The Auto index was at 11,048.97, down by 136.34 points or by 1.22%. The major losers were Bajaj Auto (2.85%), Mahindra & Mahindra (1.03%), Maruti Suzuki India (1%), Cummins India (0.98%) and Ashok Leyland (0.6%).
On the other hand, the FMCG index was at 5,870.90, up by 28.19 points or by 0.48%. The major gainers were I T C (1.4%), Nestle India (0.69%), Godrej Consumer Products (0.43%) and Tata Global Beverages (0.27%).
Market breadth was negative with 1,193 advances against 1,733 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 2,167.73 million. It was followed by Axis Bank (Rs. 2,024.17 million), Housing Development and Infrastructure (Rs. 902.10 million) and I C I C I Bank (Rs. 759.91 million).
The volume chart was led by Unitech with trades of over 11.78 million shares. It was followed by Housing Development and Infrastructure (11.21 million), Suzlon Energy (8.22 million) and I V R C L (4.68 million).
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