Post Market Commentary

The market tumbled after the mid afternoon to close the session in a deep negative territory with the benchmark index Sensex fell 717.43 points to close at 17,998.39, whereas Nifty closed at 5351, down by 208.30 points. The market started the day with healthy gains over the Wednesday''s loss but lost the grip after the mid session. A lot of volatility is seen in today''s trading session as the Sensex moved around 400 up and 700 points down. Earlier in the day, the market had gained nearly 500 points to touch a new peak of 19,198 points on aggressive buying by funds and surge in the capital goods and consumer durable shares. However, the market tumbled post session and traded at the day''s low of 17,771.16 as heavy institutional selling was witnessed. Overall, the market breath was weak for the day as 1716 stocks declined while 1053 stocks advanced on BSE. Further, BSE Midcap and BSE Smallcap closed lower by 174.70 points and 122.83 points at 7426.24 & 9078.75 respectively.

BSE Metal ended lower by 689.98 points at 15029.82. Pulling it down are JSW Steel by (6.97%), SAIL by (6.45%), Sesa Goa by (5.68%), Hindalco (5.56%) and Hindustan Zinc by (5.42%).

BSE Capital goods closed in deep red at 16140.49, down by 684.05 points. Scrips lost the ground are Havell India by (10.14%), Suzlon Energy by (8.32), Crompton Greaves Ltd by (6.77%), BEML by (6.74%) and Siemens by (5.60%).

BSE Bankex also lost the grounds by 572.93 points to close at 9034.68. Scrips plunged are SBI (8.26%), Union Bank (7.45%), ICICI Bank (6.99%), Bank Of India (6.88%) and Yes Bank (6.51%).

The Reality index slipped by 448.18 points to close at 9,382.94. Drifting it down are Purvankara (7.91%), Indiabulls Realty (7.86%), Parsvnath (7.55%) and DLF Ltd (5.85%).

The Oil and Gas index decreased by 398.40 points at 10,562.9 as Reliance (4.25%), GAIL (4.06%), ONGC (3.26%), Essar Oil (3.22%), RPL (2.32%) and HPCL (1.57%) closed in negative.