Sensex settles 59 points lower as FY13 GDP estimate disappoint
07th February 2013 04:18 PM
Indian equities ended lower on Thursday as disappointing economic growth forecast triggered broad based selling. Consumer durables,realty, power and metalsstocks led the decline.CSO 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 the close, the benchmark 30-share index, BSE Sensex lost 59.40 pointsor 0.30% at 19,580.32 with 18 components registering drop. Meanwhile, the broad based NSE Nifty went down by 20.40 or 0.34% at 5,938.80 with 35 components registering drop.Sensex Movers
I C I C I Bank contributed fall of 13.29 points in the Sensex. It was followed by Larsen & Toubro (12.11 points), Bharti Airtel (11.66 points), NTPC (8.22 points) and Reliance Industries (8.15 points).
However, Housing Development Finance Corporation contributed rise of 12.43 points in the Sensex. It was followed by Tata Consultancy Services (11.08 points), Infosys (7.22 points), Mahindra & Mahindra (6 points) and Tata Motors (5.6 points).
Major gainers in the 30-share index were Mahindra & Mahindra (1.26%), Tata Consultancy Services (1.20%), Coal India (0.96%), Housing Development Finance Corporation (0.89%), Tata Motors (0.89%), and Infosys (0.46%).
On the other hand, Sterlite Industries (India) (2.92%), NTPC (2.72%), Cipla (2.61%), G A I L (India) (2.47%), Bharti Airtel (2.28%), and Tata Power Company (1.97%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -0.89% and -1.30% respectively.The major losers in the BSE Midcap were Allahabad Bank(3.04%), CORE Education and Technologies (1.38%), Allcargo Logistics (0.77%), Aban Offshore (0.58%) and Amara Raja Batteries (0.08%).The major losers in the BSE Smallcap were Aarti Industries (5.37%), Adhunik Metaliks (3.92%), Trident (2.63%), Action Construction Equipment (1.96%) and Reliance MediaWorks (0.71%).
Sectors in Limelight
The Consumer Durables index was at 7,345.93, down by 215.74 points or by 2.85%. The major losers were Rajesh Exports (3.31%), Bajaj Electricals (2.82%), Symphony (1.08%), Gitanjali Gems (0.17%) and Whirlpool Of India (0.06%).
The Power index was at 1,875.95, down by 26.2 points or by 1.38%. The major losers were Reliance Infrastructure (4.18%), A B B (1.76%), Bharat Heavy Electricals (1.22%), C E S C (0.94%) and Crompton Greaves (0.52%).
The Realty index was at 2,181.03, down by 30.15 points or by 1.36%. The major losers were Indiabulls Real Estate (3.95%), Anant Raj (3.59%), Housing Development and Infrastructure (2.62%), D L F (1.21%) and Phoenix Mills (0.06%).
On the other hand, the IT index was at 6,426.30, up by 44.66 points or by 0.70%. The major gainers were Hexaware Technologies (3.73%), Mahindra Satyam (1.8%), Tech Mahindra (1.06%), Infosys (0.46%) and Mphasis (0.11%).
Market breadth was negative with 1,093 advances against 1,806 declines.
Value and Volume Toppers
Strides Arcolab topped the value chart on the BSE with a turnover of Rs. 1,199.20 million. It was followed by United Spirits (Rs. 858.41 million), Zee Entertainment Enterprises (Rs. 735.74 million) and Cummins India (Rs. 704.22 million).
The volume chart was led by Suzlon Energy with trades of over 10.49 million shares. It was followed by Unitech (4.64 million), Manappuram Finance (4.24 million) and Housing Development and Infrastructure (3.55 million).
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