Sensex trades sluggish; Sesa Goa, Sterlite worst hit
Published: 11th September 2012 12:18 PM
Last Updated: 11th September 2012 12:18 PM
Indian markets remained in the negativein noon trade on
Tuesdaytracking sluggish global cues. Metal, capital goods and auto
stocks saw the deepest cuts.
Goa government ordered temporary shutdown of all 90 iron ore
mines in the state following the Shah Commission report, which was
tabled in Parliament last week, exposed a scam to the tune of Rs
350 billion in Goa"s iron ore mines. The suspension has impacted
metal stocks severely with Sesa Goa down 5% and Sterlite Industries
At 12.03 pm, the Sensex was trading down 16.50 points or 0.09%
at 17,750.28 with 17 components falling. Meanwhile, the Nifty was
trading lower by 8.15 points or 0.15% at 5,355.30 with 26
The 30-share benchmark index, BSE Sensex opened with a decline
of 54.98 points or 0.31% at 17,711.80, while the broad based NSE
Nifty started with a fall of 27.35 points or 0.51%, at
H D F C Bank contributed fall of 9.24 points in the Sensex. It
was followed by Sterlite Industries (India) (7.69 points), Larsen
& Toubro (7.5 points), Infosys (4.55 points) and Hero Motocorp
However, Housing Development Finance Corporation contributed
rise of 11.98 points in the Sensex. It was followed by I T C (6.77
points), NTPC (3.5 points), Sun Pharmaceutical Industries (3.01
points) and Grasim Industries (2.49 points).
Biggest gainers in the 30-share index were G A I L (India)
(1.25%), NTPC (1.05%), Bharat Heavy Electricals (1.01%), Housing
Development Finance Corporation (0.93%), Sun Pharmaceutical
Industries (0.92%), and Cipla (0.88%).
On the other hand, Sterlite Industries (India) (4.37%), Jindal
Steel & Power (2.96%), Hero Motocorp (2.05%), Bharti Airtel
(0.94%), Tata Steel (0.87%), and Larsen & Toubro (0.84%) were
the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger
counterparts gaining 0.15% and 0.37% respectively. The major
gainers in the BSE Midcap were CORE Education and Technologies
(5.92%), Anant Raj Industries (4.81%), Amtek Auto (4%), Amtek India
(0.41%) and A B G Shipyard (0.39%).The major gainers in the BSE
Smallcap were Action Construction Equipment (13.95%), Styrolution
ABS (India) (5.81%), Aarti Industries (4.04%), Trident (2.43%) and
Aanjaneya Lifecare (1.47%).
Sectors in Limelight
The Metal index was at 9,761.16, down by 145.71 points or by
1.47%. The major losers were Jindal Steel & Power (2.96%), JSW
Steel (1.25%), Hindalco Industries (0.46%), Hindustan Zinc (0.15%)
and Coal India (0.11%).The Capital Goods index was at 9,495.54,
down by 41.19 points or by 0.43%. The major losers were A I A
Engineering (1.51%), BEML (1.41%), Alstom India (1%), Bharat
Electronics (0.34%) and Crompton Greaves (0.13%).
On the other hand, the HC index was at 7,746.02, up by 30.91
points or by 0.40%. The major gainers were Cipla (0.88%), Apollo
Hospitals Enterprise (0.61%), Cadila Healthcare (0.49%), Dr Reddy"S
Laboratories (0.42%) and Biocon (0.42%).
Market breadth was positive with 1,303 advances against 1,131
Value and Volume Toppers
United Spirits topped the value chart on the BSE with a turnover
of Rs. 229.94 million. It was followed by State Bank Of India (Rs.
217.62 million), Power Grid Corporation Of India (Rs. 168.13
million) and Fulford (India) (Rs. 132.94 million).
The volume chart was led by Cals Refineries with trades of over
1.93 million shares. It was followed by Deccan Chronicle Holdings
(1.43 million), Power Grid Corporation Of India (1.40 million) and
ARSS Infrastructure Projects (1.17 million).