Sensex dips 59 pts; Axis Bank most active
05th September 2012 12:18 PM
Indian markets declined further amid weak Asian cues with investors waiting for the European Central Bank meeting on Thursday and US payrolls on Friday for signs of more action to counter European debt woes and support growth. Metal and capital goods stocks lost ground. Both Sensex and Nifty were trading below 1-month low.
At 11.54 a.m., the Sensex was trading down 59.42 points or 0.34% at 17,381.45 with 24 components falling. Meanwhile, the Nifty was trading lower by 27.35 points or 0.52% at 5,246.65 with 45 components falling.
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.
I C I C I Bank contributed fall of 19.62 points in the Sensex. It was followed by Larsen & Toubro (13.12 points), Reliance Industries (12.57 points), Infosys (9 points) and Tata Steel (5.92 points).
However, Housing Development Finance Corporation contributed rise of 10.29 points in the Sensex. It was followed by Bharti Airtel (9.77 points), H D F C Bank (9.18 points), Hindustan Unilever (7.71 points) and I T C (5.84 points).
Biggest gainers in the 30-share index were Bharti Airtel (2.54%), Hindustan Unilever (1.17%), Housing Development Finance Corporation (0.80%), HDFC Bank (0.70%), ITC (0.34%), and GAIL (India) (0.03%).
On the other hand, Jindal Steel & Power (3.05%), Bharat Heavy Electricals (2.60%), Tata Steel (2.04%), Sterlite Industries (India) (1.92%), ICICI Bank (1.59%), and Larsen & Toubro (1.51%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Midcap index was at 6039.67 down by 2.74 points or by 0.05%. The major losers were Allcargo Logistics (1.9%), Aban Offshore (1.6%), Andhra Bank (1.3%), Hexaware Technologies (0.63%) and CORE Education and Technologies (0.35%).
Sectors in Limelight
The Metal index was at 9,568.02, down by 141.98 points or by 1.46%. The major losers were Jindal Steel & Power (3.05%), Hindustan Zinc (1.52%), Hindalco Industries (0.14%), Bhushan Steel (0.08%) and Coal India (0.03%).
The Capital Goods index was at 9,442.89, down by 126.25 points or by 1.32%. The major losers were Bharat Heavy Electricals (2.6%), Crompton Greaves (1.84%), Alstom T&D India (1.42%), Bharat Electronics (1.31%) and A B B (0.73%).
The Power index was at 1,874.24, down by 16.13 points or by 0.85%. The major losers were JSW Energy (3.08%), Bharat Heavy Electricals (2.6%), Crompton Greaves (1.84%), Reliance Infrastructure (1.09%) and A B B (0.73%).
On the other hand, the IPO index was at 1,477.70, up by 9.45 points or by 0.64%. The major gainers were Bedmutha Industries (4.93%), Claris Lifesciences (2.59%), BS TransComm (2.19%), Commercial Engineers and Body Builders Company (1.44%) and Ashoka Buildcon (1.18%).
Market breadth was negative with 1,220 advances against 1,179 declines.
Value and Volume Toppers
Axis Bank topped the value chart on the BSE with a turnover of Rs. 282.79 million. It was followed by United Spirits (Rs. 280.31 million), State Bank Of India (Rs. 210.48 million) and Jain Irrigation Systems (Rs. 179.43 million).
The volume chart was led by Kingfisher Airlines with trades of over 3.42 million shares. It was followed by Jain Irrigation Systems (2.88 million), I F C I (2.68 million) and Housing Development and Infrastructure (1.84 million).
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