Sensex down on broad based selling
Srujani Panda / 18 Oct 2011
Indian Stock Markets - DSIJ's Post Market Analysis
As updated in the morning the Sensex opened in red zone falling almost near 350 points and ended the day with 276 points down to 16748.29 on the back of broad based selling and global fall after German FM statement. The German FM said that European governments won't resolve the crisis at EU meeting scheduled for October 23. Among the large caps, TCS and HCL Tech got butchered quite badly as investors were disappointed with their quarterly performance; and fell nearly 8% and 8.5 % respectively.
Among others the BSE IT Index lost 3.7% while Realty, Capital Goods, Metal, Auto, Bank and Oil & Gas indices fell 1-2%. Heavyweights Reliance Industries, ICICI Bank, Infosys, L&T, ONGC, SBI, Bharti Airtel, BHEL and Wipro were down between 1.3% and 3%. From the metal space, Sterlite Industries and Hindalco plunged 3.5% each. Tata Steel slipped 2.5%.
As updated in the morning the Sensex opened in red zone falling almost near 350 points and ended the day with 276 points down to 16748.29 on the back of broad based selling and global fall after German FM statement. The German FM said that European governments won't resolve the crisis at EU meeting scheduled for October 23. Among the large caps, TCS and HCL Tech got butchered quite badly as investors were disappointed with their quarterly performance; and fell nearly 8% and 8.5 % respectively.
| Benchmark Indices | ||
| Index | Closing | % Change |
| SENSEX | 16,748.29 | -1.63 |
| NIFTY | 5037.5 | -1.58 |
| Hang Seng | 18076.46 | -4.41 |
| Nikkei | 8741.91 | -1.58 |
| Shanghai | 2383.49 | -2.39 |
| Live | ||
| FTSE | 5366.58 | -1.31 |
| DAX | 5823.85 | -0.61 |
| CAC | 3107.95 | -1.87 |
Among others the BSE IT Index lost 3.7% while Realty, Capital Goods, Metal, Auto, Bank and Oil & Gas indices fell 1-2%. Heavyweights Reliance Industries, ICICI Bank, Infosys, L&T, ONGC, SBI, Bharti Airtel, BHEL and Wipro were down between 1.3% and 3%. From the metal space, Sterlite Industries and Hindalco plunged 3.5% each. Tata Steel slipped 2.5%.
| Sectoral Indices | |||
| Category/Index | Close | Change(Pts) | Change (%) |
| Broad | |||
| MIDCAP | 6,117.33 | -72.16 | -1.17 |
| SMLCAP | 6,856.01 | -66.96 | -0.97 |
| BSE-100 | 8,745.89 | -125.91 | -1.42 |
| BSE-200 | 2,055.01 | -29.27 | -1.4 |
| BSE-500 | 6,463.65 | -88.85 | -1.36 |
| Sectors | |||
| FMCG | 3,975.98 | -23.45 | -0.59 |
| HC | 5,854.52 | -38.1 | -0.65 |
| POWER | 2,128.44 | -14.54 | -0.68 |
| PSU | 7,356.55 | -52.16 | -0.7 |
| OIL&GAS | 8,561.04 | -95.91 | -1.11 |
| BANKEX | 10,995.62 | -135.31 | -1.22 |
| CD | 6,711.57 | -92.93 | -1.37 |
| METAL | 11,133.09 | -181.04 | -1.6 |
| AUTO | 8,838.94 | -149.86 | -1.67 |
| CG | 10,686.83 | -204.63 | -1.88 |
| REALTY | 1,792.89 | -43.28 | -2.36 |
| TECk | 3,331.34 | -103.04 | -3 |
| IT | 5,472.55 | -197.92 | -3.49 |
However, Coal India outperformed others among front liners, rising 2.7% post the company dropped plan to buy stake in Peabody unit.
Jindal Steel & Power fell 1.01% ahead of its Q2 results today, 18 October 2011. Also on the result front one should watched out for companies like HDFC bank, Hind Zinc which are going to declare their Q2 numbers tomorrow.
Other Asian markets also fell after the China's economy grew at 9.1 per cent in third quarter, slowest pace since 2009 raising concerns that Europe's debt crises is dragging the global recovery.
European stocks today fell on back of concern that France may lose its top credit rating as pressure build up on the European leaders to solve the debt crisis.
The Dow Jones Futures is currently trading 21 points or -0.19 per cent down at 11280 indicating a negative sentiment in the US markets.
BSE clocked turnover of Rs 2192 crore lower than Rs 2444.78 crore on 17th October 2011. The market breadth, indicating the overall health of the market, was negative. Out of 3205 stocks traded, 2084 stocks declined while 1007 advanced. A total of 114 stocks remained unchanged.
In conclusion we believe that there is currently no clear picture as to where the markets are heading with the global scenario looking very gloomy as there are possibilities of further downgrades by rating agencies.
Jindal Steel & Power fell 1.01% ahead of its Q2 results today, 18 October 2011. Also on the result front one should watched out for companies like HDFC bank, Hind Zinc which are going to declare their Q2 numbers tomorrow.
Other Asian markets also fell after the China's economy grew at 9.1 per cent in third quarter, slowest pace since 2009 raising concerns that Europe's debt crises is dragging the global recovery.
European stocks today fell on back of concern that France may lose its top credit rating as pressure build up on the European leaders to solve the debt crisis.
The Dow Jones Futures is currently trading 21 points or -0.19 per cent down at 11280 indicating a negative sentiment in the US markets.
BSE clocked turnover of Rs 2192 crore lower than Rs 2444.78 crore on 17th October 2011. The market breadth, indicating the overall health of the market, was negative. Out of 3205 stocks traded, 2084 stocks declined while 1007 advanced. A total of 114 stocks remained unchanged.
In conclusion we believe that there is currently no clear picture as to where the markets are heading with the global scenario looking very gloomy as there are possibilities of further downgrades by rating agencies.
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