Mumbai Markets ended lower after moving in a range bound manner ahead of SEBI board meet, wherein experts expect some key developments in P-Note segment.
Sell off in global markets on the back of renewed worries in US financial space also fuelled to negative sentiments.
Private banking, realty, capital goods, telecom and power stocks witnessed selling pressure while buying is seen in pharma and technology stocks.
Sensex was hovering in range of 15000-15200 and Nifty is moving in range of 4500-4550.
Sensex 30 closed at 15,093.12, down 119.01 points or 0.78% and Nifty fell 23.2 points or 0.51% at 4529.05.
SEBI board, in a meeting, is likely to review restrictions on P-notes as introduced in October, 07, to review new norms introduced in last 10 months and primary market reforms.
Amongst front liners, ICICI Bank tumbled 4.04%, HDFC Bank -3.77%, DLF -3.32%, Reliance Infra -2.71% and HDFC -2.43%.
However, Sterlite Industries gained 2.67%, Cipla 2.88%, ABB 2.51%, Zee Entertainment 2.01%, Cairn India 1.56%, Infosys Tech 1.34%, TCS 1.20%, Satyam 0.87% and NTPC 0.57%.
Banking stocks were under selling pressure, especially private banking space got hammered a lot as its ADRs declined sharply.
Bankex under performed other indices, slipped 165.87 points or 2.23% to settle at 7,271.40. Bank of Baroda, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Andhra Bank, Karnataka Bank, IndusInd Bank and Canara Bank lost 2-4.6%.
Realty stocks also knocked down. This includes Mahindra Life, HDIL, DLF, Anant Raj Ind, Phoenix Mills and Omaxe, which fell 2-4.6%.
Index slid 74.66 points or 1.31% at 5,610.83.
Capital Goods Index lost 133.35 points or 1.05% at 12,606.94. Siemens, Punj Lloyd, Kirloskar Oil,
L&T, Jyoti Structure, Elecon Engg, Praj Industries and BHEL slipped 1-2.5%.
Power stocks like GMR Infra, Reliance Infra, Tata Power, CESC and Suzlon Energy also tumbled. Index ended with a loss of 14.17 points or 0.52% at 2,729.84.
Auto index was down marginally by 0.24% at 3,990.07. Amtek Auto, Maruti Suzuki, Hero Honda, Bharat Forge, Tata Motors and Cummins were down.
Telecom stocks like Reliance Comm, TataTeleservices and Bharti Airtel also tumbled.
Metal Index fell 0.14% at 12,643.23.
Jindal Steel, Welspun Guj, Hindalco, JindalStainless, Sesa Goa, JSW Steel and Guj NRE Coke have lost ground while Sterlite Ind, Jindal Saw, NALCO, Ispat Industries and Tata Steel gained.
In the oil & gas space, BPCL, Reliance Petro, Essar Oil and ONGC were losers while RNRL, Cairn India, HPCL, IOC and Aban Offshore were gainers. Index closed flat at 10,438.99.
However, IT Index gained 41.98 points or 1.1% at 3,813.96 due to buying in Financial Tech, NIIT, Rolta, Moser Baer, Infosys, TCS and Satyam.
Healthcare stocks like Sun Pharma Adv, Glenmark, Divis Labs, Cipla, Bilcare and Opto Circuits witnessed buying interest. Index rose 44.66 points or 1.05% at 4,279.90.
FMCG Index was up by 0.19% at 2,226.30. United Spirits, Tata Tea, GlaxoSmith Cons, Rei Agro and Britannia were up 1-2.5%.
Most active counters on the bourses were L&T, ICICI Bank, SBI, BHEL and Reliance Industries.
Market breadth was negative; about 1374 shares have advanced while 1576 shares declined. Nearly 212 shares remained unchanged.
Turnover traded in markets stood at Rs 61,043.34 crore.
This includes Rs 12,035.80 crore from NSE Cash segment, Rs 43,947.06 crore from NSE F&O and balance Rs 5,060.48 crore from BSE Cash segment.
On the global front, Asian markets ended on weak note.
Nikkei slipped 2.11%, Hang Seng -1.61%, Shanghai -0.44%, Straits Times -0.18%, Kospi -0.91% and Taiwan Weighted -0.02%.
European markets were trading weak on credit concerns, at the time of writing market report. FTSE was down 0.56%, CAC -0.94% and DAX -0.65%.
Comments
0 comment