Indian markets plunged,snapping three daywinning streak, on Thursday tracking global selloff. Global markets fell sharply on renewed concernsthe US Federal Reserve may considerpolicy-tightening, whichwill reduce global liquidity.
The Budget session of Parliament started today with President Pranab Mukherjee address to a joint sitting of both houses.Addressing both houses, Mukherjee said, that the government is looking into steps to deal with slowdown in growth and rising inflation.
At the close, the benchmark 30-share index, BSE Sensex declined 317.39 or 1.62% at 19,325.36 with 29 components posting drop. Meanwhile, the broad based NSE Nifty went down by 90.80 or 1.53% at 5,852.25 with 51 components posting drop.
Sensex Movers
I C I C I Bank contributed fall of
56.98 points in the Sensex. It was followed by Reliance Industries
(37.33 points), H D F C Bank (25.28 points), I T C (22.61 points)
and Larsen & Toubro (20.25 points).
Jindal Steel & Power (4.19%), Tata Steel (4.18%), Sterlite Industries (India) (3.77%), ICICI Bank (3.77%), Hindalco Industries (3.54%), and Bharti Airtel (2.79%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts declining -1.64% and -1.74% respectively.The major losers in the BSE Midcap were Aban Offshore (1.94%), A I A Engineering (1.77%), Alstom India (1.76%), A B G Shipyard (1.08%) and CORE Education and Technologies (0.29%).The major losers in the BSE Smallcap were Action Construction Equipment (7.21%), Adhunik Metaliks (4.3%), A2Z Maintenance & Engineering Services (3.35%), Styrolution ABS (India) (1.36%) and Aarti Industries (0.69%).
Sectors in Limelight
The Metal index was at 9,612.13, down by 320.57 points or by 3.23%. The major losers were Jindal Steel & Power (4.19%), Hindalco Industries (3.54%), Hindustan Zinc (3.18%), Coal India (0.7%) and Bhushan Steel (0.12%).
The Bankex index was at 13,831.92, down by 356.94 points or by 2.52%. The major losers were Canara Bank(2.74%), Bank Of Baroda (2.24%), H D F C Bank (1.69%), Bank Of India (1.38%) and Federal Bank (1.18%).
The Realty index was at 2,084.98, down by 49.66 points or by 2.33%. The major losers were Anant Raj (5.73%), Indiabulls Real Estate (5.58%), Housing Development and Infrastructure (2.86%), D L F (2.61%) and Godrej Properties (1.27%).
On the other hand, the Consumer Durables index was at 7,147.49, up by 2.52 points or by 0.04%. The major gainers were Videocon Industries (5.25%), Symphony (0.51%), Rajesh Exports (0.42%), T T K Prestige (0.38%) and Blue Star (0.23%).
Market Breadth
Market breadth was negative with 939 advances against 1,956 declines.
Value and Volume Toppers
Shriram Transport Finance Company topped the value chart on the BSE with a turnover of Rs. 1,202.38 million. It was followed by State Bank Of India (Rs. 786.27 million), United Spirits (Rs. 682.01 million) and Tata Steel (Rs. 443.33 million).
The volume chart was led by Kingfisher Airlines with trades of over 9.36 million shares. It was followed by Moh (6.45 million), Suzlon Energy (5.94 million) and Spicejet (4.42 million).
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