Sunday, October 17, 2010

Sensex turns into red; ACC, J P Ass. drop

Indian equities continued to fall for the third day on Monday. The Sensex slippped due to profit booking amid mixed Asian cues. At 10.01 a.m., the Sensex was trading down 202.90 points or 1.01% at 19,922.15 with 28 components falling. Meanwhile, the Nifty was trading lower by 62.25 points or 1.03% at 6,000.40 with 46 components falling.

The 30-share benchmark index, BSE Sensex opened with a gain of 35.50 points or 0.18% at 20,160.55, while the broad based NSE Nifty started with a rise of 113.25 points or 1.87%, at 6,175.90.

Markets opened for trade at 9:15 am, after the SEBI introduced pre-market call auction. Under this method, between 9 AM to 9:08 AM, it is the time for order entry, order modification and order cancellation. Post this period, there is no chance for either cancellation or modification of orders.

Asian stocks open mixed as Australian asset managers climbed following a private-equity bid for Perpetual. Mazda Motor Corp. dropped on speculation Ford Motor Co. may reduce its stake in the Japanese automaker

Sensex Movers

I C I C I Bank contributed fall of 33.37 points in the Sensex. It was followed by Larsen & Toubro (25.59 points), Housing Development Finance Corporation (24.79 points), I T C (17.52 points) and Bharti Airtel (13.76 points).

However, Reliance Industries contributed rise of 6.83 points in the Sensex. It was followed by State Bank Of India (3.79 points), Sun Pharmaceutical Industries (1.22 points), Hero Honda Motors (0.67 points) and NTPC (0.98 points).

Major gainers in the 30-share index were State Bank Of India (0.33%), and Reliance Industries (0.29%).

On the other hand, ACC (2.57%), Jaiprakash Associates (2.37%), Bharti Airtel (2.35%), Wipro (2.28%), Housing Development Finance Corporation (2.10%), and I C I C I Bank (2.05%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts declining 0.97% and 0.43% respectively.

The major losers in the BSE Midcap were Aban Offshore (2.12%), Core Projects and Technologies (1.63%), Ackruti City (1.58%), A I A Engineering (1.35%) and Alstom Projects India (1.27%).

The major losers in the BSE Smallcap were A B G Shipyard (3.58%), Action Construction Equipment (2.49%), Adhunik Metaliks (1.92%), Provogue (India) (1.43%) and INEOS ABS (India) (0.25%).

Sectors in Limelight

The Capital Goods index was at 15,676.38, down by 228.26 points or by 1.44%. The major losers were BEML (2.8%), A I A Engineering (1.35%), Crompton Greaves (1.32%), Bharat Heavy Electricals (0.83%) and Bharat Electronics (0.61%).

The Auto index was at 9,619.08, down by 132.83 points or by 1.36%. The major losers were Ashok Leyland (2.43%), Exide Industries (1.92%), Bajaj Auto (1.91%), Bharat Forge (0.35%) and Apollo Tyres (0.31%).

The FMCG index was at 3,560.30, down by 47.21 points or by 1.31%. The major losers were Godrej Consumer Products (2.73%), United Spirits (1.78%), I T C (1.51%), Hindustan Unilever (1.06%) and Dabur India (0.98%).

The TECk index was at 3,691.83, down by 46.83 points or by 1.25%. The major losers were Idea Cellular (2.42%), Bharti Airtel (2.35%), Dish TV India (2.05%), Reliance MediaWorks (1.8%) and Oracle Financial Services Software (0.57%).

Market Breadth

Market breadth was negative with 1,052 advances against 1,403 declines.

Value and Volume Toppers

Bedmutha Industries topped the value chart on the BSE with a turnover of Rs. 775.89 million. It was followed by Pipavav Shipyard (Rs. 550.89 million), Orchid Chemicals & Pharmaceuticals (Rs. 173.94 million) and V I P Industries (Rs. 170.35 million).

The volume chart was led by Pipavav Shipyard with trades of over 6.99 million shares. It was followed by Bedmutha Industries (3.52 million), Karuturi Global (3.16 million) and Cals Refineries (2.36 million).

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