Mumbai: Amidst volatility, the markets closed in deep red on account of heavy selling in index pivotals. The BSE Sensex closed with a loss of 452 points at 10939. The Nifty was down over 142 points at 3247.
The US markets closed in red on Thursday and the Asian markets closed mix.
The market breadth was extremely negative, about 313 shares have advanced, 2113 shares declined, and 27 shares are unchanged.
Heavyweights like Reliance, SBI, ITC, HLL closed in the red.
Hemendra kothari of DSP Merrill Lynch expects the volatility in the markets to continue because of inflation fears.
"I personally feel this kind of volatility will remain. We have to see what's happpening to interest rate in dollars. We're seeing that the interest rate will go up, interest rates have a strong bearing on the equity market around the world and we may not be an exception to that," he said.
The major losers on the indices are Cipla, Tata Steel, Wipro, Nalco, GSK and Zee. The NSE cash turnover stood at Rs 10808.71 crore. The NSE F&O was at Rs 40399.93 crore and the BSE cash turnover stood at Rs 5118.01 crore. The total market turnover stood at Rs 56,326.65 crore.
Markets on Friday:
> Another steep fall in the markets after Thursday’s massive crash
> Continued selling pressure, forced unwinding of positions causes fall
> Triggering of margin calls causes further selling pressure across sectors
> Sensex, Nifty down another 4% each after the almost 7% fall on Thursday
> Sensex slips below 11,000 for the first time since Mar 22, 2006
> Sensex ends down 453 points at 10,939; Nifty down 142 points at 3247
> All Sensex, Nifty stocks end in the red for second consecutive day
> All BSE sector indices close negative; fall at least 3% each
> Metal stocks continue to suffer the most on volatility in global commodity prices
> BSE Metals index down over 5% at 8704 after the over 11% fall on Thursday
> BSE FMCG, Healthcare indices close down over 5% each
> BSE Bank, Capital Gods indices close down over 4% each
> Market breadth sharply negative; NSE Advance:Decline ratio at 1:10
> Total market turnover lower at Rs 56,326.65 cr vs Rs 57,523.49 on Thursday
Other Highlights:-
> The metal index was down 5.4% at 8,704.50. Metal stocks including Jindal Saw, NALCO, JindalStainless, Hind Zinc, Tata Steel, and SAIL.
> FMCG stocks like Dabur India, Colgate, Tata Tea, HLL and ITC closed in deep red. he FMCG index was down 5.33% at 2,012.51.
Pharma index was down 5.2% at 3,510.44. Pharma stocks including Cipla, Orchid Chemical, Aventis Pharma, Nicholas Pirama, > GlaxoSmithKline and Ranbaxy Labs ended low.
> Banking stocks including IOB, Andhra Bank, Canara Bank, Oriental Bank, Union Bank and ICICI Bank closed in the negative The bankex was down 5% at 5,008.72.
> Capital goods index closed at 7,787.29 down 4.3%. Capital goods stocks like Bharat Electronics, Siemens, ABB, Alstom Projects, Ingersoll Rand and Alfa Laval closed in red.
> Consumer drables stocks like Titan Industries, Su-Raj Diamonds, Whirlpool closed in the negative terrain. The index closed at 3,145.41 down 3.7%.
> The BSE Auto index closed at 5,103.37 down 3.4%. Auto stocks like Hind Motors, TVS Motor, Sundaram-Clayton, Cummins, Escorts and Bharat Forge ended lower.
> IT stocks like Patni Computer, Satyam, i-Flex Solution, HCL Tech, Wipro closed weak. The IT index was down 3.3% at 3,732.82.
> The oil & gas index was down 3.1% at 5,386.37. Oil & gas stocks including MRPL,ONGC, IOC, Kochi Refin and Reliance were among the top losers.
> All the BSE indices closed in red. Heavy selling is seen in capital goods, auto and pharma stocks. Metal stocks are also under pressure.
Markets Weekly Summary:
> Sensex, Nifty Down Nearly 10% Each
> CNX Midcap, Small-cap Indices Down 11.2% Each
> BSE FMCG, Cap Goods Indices Down Nearly 11% Each
> BSE Metal Index Down 21%.
> BSE Healthcare Index Down 12%
> BSE Oil & Gas, IT, Bank, Auto Indices Down Nearly 9% Each
> Frm the mkts: Biggest percetnage of Weekly Drop For Sensex Since Week Ended May 14, 2004
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