Sensex drops 161 pts post Budget speech
28th February 2013 03:18 PM
Indian equities turned negativeafter theUnion Budget proposed increasing some corporate and individual taxes and after securities transaction tax was lowered but not eliminated.At 02.06 p.m., the Sensex was trading down 161.24 points or 0.84% at 18,991.17 with 22 components falling. Meanwhile, the Nifty was trading lower by 46 points or 0.79% at 5,750.90 with 40 components falling.
The 30-share benchmark index, BSE Sensex opened with a gain of 112.39 points or 0.59% at 19,264.80, while the broad based NSE Nifty started with a rise of 37.45 points or 0.65%, at 5,834.35.
I C I C I Bank contributed fall of 53.37 points in the Sensex. It was followed by Reliance Industries (39.63 points), State Bank Of India (28.93 points), Larsen & Toubro (23.1 points) and Oil & Natural Gas Corporation (21.36 points).
However, I T C contributed rise of 36.02 points in the Sensex. It was followed by Tata Consultancy Services (15.45 points), H D F C Bank (11.48 points), Bharti Airtel (3.78 points) and Sun Pharmaceutical Industries (3.77 points).
Major gainers in the 30-share index were I T C (1.93%), Coal India (1.93%), Tata Consultancy Services (1.56%), Sun Pharmaceutical Industries (0.97%), Wipro (0.91%), and H D F C Bank (0.79%).
On the other hand, State Bank Of India (4.24%), Jindal Steel & Power (4.16%), I C I C I Bank (3.66%), Hindalco Industries (2.83%), Oil & Natural Gas Corporation (2.66%), and Larsen & Toubro (2.51%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap index was at 6377.34 down by 84.39 points or by 1.31%. The major losers were A B G Shipyard (10.75%), CORE Education and Technologies (5.14%), A I A Engineering (1.97%), Alstom India (1.1%) and Aban Offshore (0.88%).
The BSE Smallcap index was at 6292.54 down by 38.51 points or by 0.61%. The major losers were Aanjaneya Lifecare (9.99%), Reliance MediaWorks (4.31%), Styrolution ABS (India) (1.88%), Action Construction Equipment (1.6%) and Aegis Logistics (1.48%).
Sectors in Limelight
The Metal index was at 9,141.03, down by 202.31 points or by 2.17%. The major losers were JSW Steel (4.63%), Jindal Steel & Power (4.16%), NMDC (3.25%), Hindalco Industries (2.83%) and Hindustan Zinc (1.58%).
The Capital Goods index was at 9,305.20, down by 201.09 points or by 2.12%. The major losers were A I A Engineering (1.97%), A B B (1.29%), BEML (1.27%), Alstom India (1.1%) and Bharat Electronics (0.21%).
The Oil & Gas index was at 8,616.69, down by 175.34 points or by 1.99%. The major losers were Cairn India (3.58%), Hindustan Petroleum Corporation (1.5%), Bharat Petroleum Corporation (1.36%), G A I L (India) (1.17%) and Oil India (0.72%).
On the other hand, the FMCG index was at 5,764.50, up by 74.16 points or by 1.30%. The major gainers were I T C (1.93%), Nestle India (1.83%), United Spirits (1.48%) and Colgate-Palmolive (India) (0.03%).
Market breadth was negative with 1,000 advances against 1,659 declines.
Value and Volume Toppers
Apollo Hospitals Enterprise topped the value chart on the BSE with a turnover of Rs. 4,430.80 million. It was followed by Suzlon Energy (Rs. 2,905.79 million), State Bank Of India (Rs. 1,188.24 million) and Strides Arcolab (Rs. 1,163.56 million).
The volume chart was led by Suzlon Energy with trades of over 130.89 million shares. It was followed by Apollo Hospitals Enterprise (5.41 million), Cals Refineries (5.20 million) and CORE Education and Technologies (4.86 million).
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