Indian markets continue to trade in a sluggish mannerdue to global meltdown. Metal, Capital goods and banking stocks lost ground.
At 11.50 a.m., the Sensex was trading down 95.01 points or 0.56% at 16,937.55 with 23 components falling. Meanwhile, the Nifty was trading lower by 42.35 points or 0.82% at 5,122.65 with 42 components falling.
The 30-share benchmark index, BSE Sensex opened with a decline of 149.82 points or 0.88% at 16,882.74, while the broad based NSE Nifty started with a fall of 63.25 points or 1.22%, at 5,101.75.
Sensex Movers
Reliance Industries contributed fall of 21.07 points in the Sensex. It was followed by Housing Development Finance Corporation (18.49 points), Larsen & Toubro (14 points), Infosys (13.8 points) and I C I C I Bank (10.88 points).
However, Tata Consultancy Services contributed rise of 4.53 points in the Sensex. It was followed by Oil & Natural Gas Corporation (2.8 points), Maruti Suzuki India (2.71 points), Hero Motocorp (2.24 points) and Mahindra & Mahindra (1.09 points).
Major gainers in the 30-share index were Maruti Suzuki India (1.43%), Cipla (1.19%), Hero Motocorp(0.95%), Tata Consultancy Services (0.51%), Bajaj Auto (0.50%), and Oil & Natural Gas Corporation (0.42%).
On the other hand, Hindalco Industries (2.27%), Tata Steel (2.09%), Housing Development Finance Corporation (1.64%), Tata Power Company (1.64%), Larsen & Toubro (1.62%), and Sterlite Industries (India) (1.46%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.07% and 0.21% respectively. The major gainers in the BSE Midcap were Andhra Bank (1.06%), Anant Raj Industries (0.65%), Alok Industries (0.55%), Amara Raja Batteries (0.42%) and Amtek India (0.24%).The major gainers in the BSE Smallcap were A2Z Maintenance & Engineering Services (2.93%), Trident (1.07%), Aegis Logistics (1%), Reliance MediaWorks (0.28%) and Advanta India (0.03%).
Sectors in Limelight
The Metal index was at 10,363.45, down by 137.29 points or by 1.31%. The major losers were Hindalco Industries (2.27%), Hindustan Zinc (1.5%), Jindal Steel & Power (0.76%), Bhushan Steel (0.7%) and Coal India (0.69%).
The Capital Goods index was at 9,721.82, down by 77.72 points or by 0.79%. The major losers were Alstom Projects India (0.93%), Bharat Heavy Electricals (0.79%), A I A Engineering (0.48%), BEML (0.09%) and Bharat Electronics (0.04%).
The Bankex index was at 11,497.16, down by 65.59 points or by 0.57%. The major losers were Indusind Bank (0.97%), I C I C I Bank (0.95%), Canara Bank (0.71%), H D F C Bank (0.64%) and Bank Of Baroda (0.49%).
On the other hand, the Auto index was at 9,368.12, up by 39.00 points or by 0.42%. The major gainers were Maruti Suzuki India (1.43%), Hero Motocorp (0.95%), Cummins India (0.8%), Bajaj Auto (0.5%) and Mahindra & Mahindra (0.29%).
Market Breadth
Market breadth was negative with 1,150 advances against 1,232 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 602.25 million. It was followed by Tata Motors (Rs. 302.14 million), Housing Development and Infrastructure (Rs. 286.99 million) and Larsen & Toubro (Rs. 195.53 million).
The volume chart was led by Manappuram Finance with trades of over 4.53 million shares. It was followed by Housing Development and Infrastructure (3.62 million), Lanco Infratech (2.57 million) and Cals Refineries (2.45 million).
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