Sensex down 51 pts in early trade
04th September 2012 11:18 AM
Indian equities dropped on Tuesday. At 10.05 a.m., the Sensex was trading down 51.15 points or 0.29% at 17,333.25 with 22 components falling. Meanwhile, the Nifty was trading lower by 13 points or 0.25% at 5,240.75 with 35 components falling.
The 30-share benchmark index, BSE Sensex opened flat with a decline of 5.72 points or 0.03% at 17,378.68, while the broad based NSE Nifty started with a fall of 4.60 points or 0.09%, at 5,249.15."Investors continue to tread cautiously amid lack of progress on policy reforms. The ongoing spat between the government and the BJP over the controversial coal block allocations continues to dampen the sentiment. Economic data continues to be downbeat, with the first-quarter GDP growth just about holding above the 5% mark. The HSBC manufacturing PMI in August was near nine-month lows while exports slumped sharply in July," said India Infoline.
Housing Development Finance Corporation contributed fall of 13.8 points in the Sensex. It was followed by Infosys (13.51 points), I C I C I Bank (8.65 points), Tata Consultancy Services (7.84 points) and NTPC (5.87 points).
However, Reliance Industries contributed rise of 16.89 points in the Sensex. It was followed by Larsen & Toubro (4.56 points), Tata Motors (3.15 points), State Bank Of India (1.63 points) and Tata Steel (1.41 points).
Biggest gainers in the 30-share index were Reliance Industries (1.05%), Tata Motors (0.61%), Larsen & Toubro (0.52%), Dr Reddy"S Laboratories (0.50%), Tata Steel (0.49%), and Sterlite Industries (India) (0.37%).
On the other hand, NTPC (1.80%), Bharti Airtel (1.52%), Housing Development Finance Corporation (1.07%), Cipla (1.04%), Tata Power Company (1.02%), and Infosys (0.99%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.08% and 0.11% respectively. The major gainers in the BSE Midcap were Amtek India (0.92%), Apollo Tyres (0.82%), Aban Offshore (0.65%), Amara Raja Batteries (0.48%) and CORE Education and Technologies (0.12%).The major gainers in the BSE Smallcap were A2Z Maintenance & Engineering Services (2.27%), Reliance MediaWorks (1.69%), Aarti Industries (1.32%), Advanta India (1.22%) and Aanjaneya Lifecare (0.38%).
Sectors in Limelight
The IT index was at 5,688.22, down by 46.15 points or by 0.8%. The major losers were Infosys (0.99%), Tata Consultancy Services (0.84%), Wipro (0.78%), H C L Technologies (0.57%) and Oracle Financial Services Software (0.49%).
The TECk index was at 3,225.62, down by 21.99 points or by 0.68%. The major losers were Bharti Airtel (1.52%), Tata Teleservices (Maharashtra) (0.84%), H C L Technologies (0.57%), Oracle Financial Services Software (0.49%) and Idea Cellular (0.2%).
The Power index was at 1,867.09, down by 5.98 points or by 0.32%. The major losers were NTPC (1.8%), Crompton Greaves (0.8%), Bharat Heavy Electricals (0.76%), JSW Energy (0.11%) and A B B (0.03%).
On the other hand, the Realty index was at 1,505.93, up by 8.04 points or by 0.54%. The major gainers were D L F (0.92%), Indiabulls Real Estate (0.36%), Housing Development and Infrastructure (0.22%), Oberoi Realty (0.22%) and Godrej Properties (0.16%).
Market breadth was negative with 851 advances against 813 declines.
Value and Volume Toppers
Torrent Power topped the value chart on the BSE with a turnover of Rs. 512.34 million. It was followed by United Spirits (Rs. 242.55 million), State Bank Of India (Rs. 90.36 million) and Prakash Steelage (Rs. 72.34 million).
The volume chart was led by Torrent Power with trades of over 3.24 million shares. It was followed by S Kumars Nationwide (0.86 million), I F C I (0.70 million) and Kingfisher Airlines (0.67 million).
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