Post Session Commentary - Jan 16 2008

The Indian market closed in the negative territory on the back of heavy profit booking across the counters. The market opened in red backed by negative cues from the global markets and drifts down further since the opening bell. The market faced the bloodbath due to heavy selling pressures that led the BSE Sensex to fell more than 700 points during the trading session. But buying at the lower levels led the market to shed some of its points towards the end of the session. The BSE Sensex touched an intraday high of 20,079 and low of 19,513. Even the Small caps and Mid caps were the most hit as they close with a heavy loss of 233.08 points and 164.69 points at 12,522.21 and 9,267.20 respectively. The BSE Sensex closed lower by 382.98 points at 19,868.11 and NSE Nifty fell by 138.5 points to close at 5,935.75.

BSE Metal index dropped by 590.38 points to close at 18,020.25. Scrips that slipped are Sterlite inds (6.21%), JSW Steel (5.35%), Gujarat NRE (4.13%), Bhushan Steel (4.08%).

BSE Realty index closed lower by 596.18 points at 12,825.31 as Omaxe Ltd (9.49%), Unitech (6.20%), Indbul Real (5.34%), DLF (4.12%) closed in red.

BSE Bankex index slipped by 94.57 points to close at 12,163.85 as HDFC bank (6.12%), Axis bank (3.59%), Yes bank (3.03%), Canara bank (2.94%) closed lower.

BSE Oil & Gas index fell by 206.35 points to close at 13,650.13. Scrips that dropped are Cairn India (3.56%), Aban Offshore (2.24%), Reliance industries (2.01%), ONGC (1.88%) .

BSE Capital Goods index declined by 473.11 points to close at 18,673.80. Scrips that fell are BEML (4.47%), BHEL (4.42%), AIA Engi (4.34%), Areva (3.74%), ABB (2.73%) and L&T (1.78%).

BSE Power index dropped by 169.94 points to close at 4,462.33 as Tata Power (5.63%), NTPC (5.55%), Reliance Energy (4.14%), Suzlon Energy (3.06%) and GVK Power (2.22%) closed lower.

BSE IT index slipped by 27.87 points to close at 3,882.88. Scrips that tumbled are Niit Tech (4.21%), GTL Ltd (3.86%), Patni Computers (3.19%), Satyam (2.09%)