Post Market Commentary - Feb 6 2008

The market closed on a deep red note on the back of heavy selling pressures across the sectoral indices. Backed by the unfavoring weak cues from the global markets, the domestic market opened with heavy losses. The market struggled throughout the trading session and was unable to recover from the initial fall as the cautious prevailed in the market. The Small Caps and Mid Caps also joined the benchmark indices as they also faced the selling pressures. The BSE Sensex closed lower by 523.67 points at 18,139.49 while NSE Nifty fell by 161.35 points to close at 5,322.55. The BSE Mid Cap and Small Cap indices closed lower by 100.55 points and 53.97 points at 7,970.74 and 10,412.81 respectively.

BSE Metal index closed lower by 604.35 points at 16,189.46. Scrips that fell are Sterlite Inds (5.77%), Nalco (5.75%), SAIL (4.90%), Hindalco (4.89%), Jindal Steel (4.46%) and Tata Steel (2.24%).

BSE Realty index fell by 256.14 points to close at 10,415.09. Losers are Unitech (5.47%), HDIL (4.31%), Omaxe (3.79%), Sobha Dev (2.03%), DLF (2.27%), Purvankara (1.32%).

BSE Oil & Gas index closed lower by 254.66 points at 11,160.83. Scrips that dropped are Essar Oil (4.99%), ONGC (4.41%), Reliance Inds (2.44%), Cairn (1.94%) and RPL (1.72%).

BSE HealthCare index closed up by 62.39 points at 3,769.45 as Opto Circuit (4.34%), Divi''s lab (3.03%), Lupin (2.76%), Dr Reddy''s lab (2.68%), Sun Pharma (2.31%) and Cadila (2.28%) closed in red.

BSE Auto index dropped by 124.62 points to close at 4,900.05. Losers are Maruti Suziki (4.83%), Cummins Ind (3.40%), Apollo Tyres (3.31%), Escorts (3.19%), Tata Motors (2.55%) and M&M (2.42%).

BSE Bankex index fell by 247.59 points to close at 10,690.01. Scrips that fell are Kotak bank (4.70%), PNB (4.16%), BOB (3.63%), BOI (3.60%), Federal bank (3.37%), ICICI bank (3.11%).

BSE IT index closed lower by 226 points at 3,813.82 as Satyam (6.74%), Wipro (6.45%), Infosys (6.25%), TCS (5.15%), Aptech (4.87%), Mphasis (4.23%) and HCL Tech (4.21%) closed lowe