Sensex trades sluggish; Metal, CG drag
05th September 2012 12:18 PM
Indian markets continue to tradeon a flat note tracking subdued Asian peers. Metal and capital goods stocks fell the most followed by power, auto and banking.
At 11.06 a.m., the Sensex was trading down 40.54 points or 0.23% at 17,400.33 with 23 components falling. Meanwhile, the Nifty was trading lower by 21.90 points or 0.42% at 5,252.10 with 43 components falling.
Asian stocks fell as U.S. manufacturing contracted for a third month, adding to signs the world"s biggest economy is slowing.
The 30-share benchmark index, BSE Sensex opened with a decline of 80.91 points or 0.46% at 17,359.96, while the broad based NSE Nifty started with a fall of 30.10 points or 0.57%, at 5,243.90.
ICICI Bank contributed fall of 16.93 points in the Sensex. It was followed by Larsen & Toubro (11.38 points), Reliance Industries (8.43 points), Infosys (7.16 points) and Tata Motors (6.45 points).
However, HDFC Bank contributed rise of 11.21 points in the Sensex. It was followed by Housing Development Finance Corporation (10.48 points), Bharti Airtel (8.16 points), Hindustan Unilever (6.96 points) and I T C (5.52 points).
Biggest gainers in the 30-share index were Bharti Airtel (2.12%), Hindustan Unilever (1.06%), HDFC Bank (0.85%), Housing Development Finance Corporation (0.81%), Hindalco Industries (0.48%), and ITC (0.32%).
On the other hand, Jindal Steel & Power (2.71%), Bharat Heavy Electricals (2.49%), Tata Steel (1.83%), Sterlite Industries (India) (1.77%), I C I C I Bank (1.37%), and Larsen & Toubro (1.31%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts gaining 0.13% and 0.42% respectively. The major gainers in the BSE Midcap were Amara Raja Batteries (1.14%), A I A Engineering (0.99%), A B G Shipyard (0.85%), Alok Industries (0.68%) and Alstom India (0.36%).The major gainers in the BSE Smallcap were Genesys International Corporation (4.74%), Reliance MediaWorks (4.34%), Aanjaneya Lifecare (2.92%), Trident (2.22%) and Ahmednagar Forgings (1.54%).
Sectors in Limelight
The Capital Goods index was at 9,453.19, down by 115.95 points or by 1.21%. The major losers were Bharat Heavy Electricals (2.49%), Alstom T&D India (1.15%), Lakshmi Machine Works (0.97%), Bharat Electronics (0.84%) and Crompton Greaves (0.8%).
The Metal index was at 9,598.56, down by 111.44 points or by 1.15%. The major losers were Jindal Steel & Power (2.71%), JSW Steel (2.24%), NMDC (2.23%), Hindustan Zinc (0.7%) and Coal India (0.14%).
The Power index was at 1,875.46, down by 14.91 points or by 0.79%. The major losers were Bharat Heavy Electricals (2.49%), JSW Energy (1.91%), Reliance Infrastructure (1.21%), Crompton Greaves (0.8%) and Lanco Infratech (0.54%).
On the other hand, the IPO index was at 1,477.28, up by 9.03 points or by 0.62%. The major gainers were Bedmutha Industries (3.42%), Claris Lifesciences (2.69%), BS TransComm (2.62%), Commercial Engineers and Body Builders Company (1.55%) and Electrosteel Steels (0.57%).
Market breadth was positive with 1,281 advances against 983 declines.
Value and Volume Toppers
Axis Bank topped the value chart on the BSE with a turnover of Rs. 199.14 million. It was followed by United Spirits (Rs. 170.03 million), State Bank Of India (Rs. 155.92 million) and Tata Steel (Rs. 130.51 million).
The volume chart was led by Kingfisher Airlines with trades of over 2.57 million shares. It was followed by IFCI (2.15 million), Transgene Biotek (1.61 million) and Housing Development and Infrastructure (1.56 million).
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