Indian markets continue to tradesluggish towards the close as disappointing economic growth forecast triggered broad based selling. Consumer durables,realty, power and metalsstocks led the decline.The government issued dismal growth forecast of 5% during current financial year as against market expectations of 5.5% growth forecast. During financial year 2011-12, India registered economic growth of 6.2%.
At 2.51 pm, the Sensex was trading down 76.90 points or 0.39% at 19,562.82 with 22 components falling. Meanwhile, the Nifty was trading lower by 23.30 points or 0.39% at 5,935.90 with 38 components falling.
The 30-share benchmark index, BSE Sensex opened with a decline of 50.28 points or 0.26% at 19,589.44, while the broad based NSE Nifty started with a fall of 22.75 points or 0.38%, at 5,936.45.
Sensex Movers
I C I C I Bank contributed fall of
17.84 points in the Sensex. It was followed by Larsen & Toubro
(17.35 points), Bharti Airtel (13.21 points), NTPC (8.21 points)
and State Bank Of India (7.86 points).
However, Housing Development Finance Corporation contributed rise of 12.5 points in the Sensex. It was followed by Tata Consultancy Services (10.63 points), Infosys (7.1 points), Mahindra & Mahindra (4.3 points) and Tata Motors (2.85 points).
Biggest gainers in the 30-share index were Tata Consultancy Services (1.16%), Mahindra & Mahindra (0.90%), Housing Development Finance Corporation (0.90%), Tata Motors (0.45%), Infosys (0.45%), and H D F C Bank (0.18%).
On the other hand, Sterlite Industries (India) (2.97%), Cipla (2.89%), NTPC (2.72%), Bharti Airtel (2.59%), G A I L (India) (2.15%), and Larsen & Toubro (1.76%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -1.05% and -1.33% respectively.The major losers in the BSE Midcap were Allahabad Bank(2.61%), CORE Education and Technologies (2%), A B G Shipyard (0.78%), Aban Offshore (0.73%) and Allcargo Logistics (0.04%).The major losers in the BSE Smallcap were Adhunik Metaliks (4.41%), Aarti Industries (3.4%), Trident (3.37%), Action Construction Equipment (2.52%) and Reliance MediaWorks (0.64%).
Sectors in Limelight
The Consumer Durables index was at 7,343.13, down by 218.54 points or by 2.89%. The major losers were Titan Industries (4.49%), Rajesh Exports (3.23%), Bajaj Electricals (2.67%), Symphony (0.78%) and Gitanjali Gems (0.24%).
The Realty index was at 2,170.77, down by 40.41 points or by 1.83%. The major losers were Indiabulls Real Estate (4.14%), Anant Raj (3.78%), Housing Development and Infrastructure (2.96%), D L F (1.37%) and Parsvnath Developers (0.46%).
The Capital Goods index was at 10,079.26, down by 154.02 points or by 1.51%. The major losers were F A G Bearings India (3.87%), Alstom T&D India (2.27%), A B B (1.5%), Bharat Heavy Electricals (1.46%) and Crompton Greaves (0.95%).
On the other hand, the IT index was at 6,418.70, up by 37.06 points or by 0.58%. The major gainers were Hexaware Technologies (3.67%), Mahindra Satyam (1.85%), Tata Consultancy Services (1.16%), Tech Mahindra (1.01%) and Infosys (0.45%).
Market Breadth
Market breadth was negative with 932 advances against 1,849 declines.
Value and Volume Toppers
Strides Arcolab topped the value chart on the BSE with a turnover of Rs. 1,058.53 million. It was followed by Zee Entertainment Enterprises (Rs. 731.23 million), United Spirits (Rs. 721.60 million) and Cummins India (Rs. 701.50 million).
The volume chart was led by Suzlon Energy with trades of over 7.83 million shares. It was followed by Unitech (3.70 million), Kohinoor Broadcasting Corporation (3.56 million) and Manappuram Finance (3.39 million).
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