Sensex ends lower; ACC plunges

The Indian equities ended on a lower note weighed by realty, IT, teck and healthcare stocks. The Sensex opened flat with a rise of 9.74 points or 0.06% at 17,650.82 on positive Asian shares. It traded in a narrow range amid volatility in the first half and later in the second half, the index slipped further as European market opened in red. Sustained selling was seen in index heavyweights thus closing on a weak note after touching a low of 17,463.78.

Meanwhile, European stocks fell before a report that may show investor confidence in the region`s biggest economy dropped for a fourth month in January amid signs the recovery is slowing. Asian shares slid, while US futures rose. Asian stocks fell for a second day as declining computer-memory prices hurt chipmakers; banks dropped on concern earnings growth will slow, and a stronger yen threatened profits at Japanese exporters.

At the close, the benchmark 30-share index, BSE Sensex lost 155.02 or 0.88% at 17,486.06 with 23 components posting drop. Meanwhile, the broad based NSE Nifty went down by 49.20 or 0.93% at 5,225.65 with 42 components registering drop.

Finance Ministry today disbursed around Rs 120 billion as cash subsidy to oil marketing companies. Also said that from this part, Rs 70 billion would be given to Indian Oil Corporation (IOC). goo


Sensex Movers

Reliance Industries contributed fall of 30.85 points in the Sensex. It was followed by Infosys Technologies (26.95 points), Housing Development Finance Corporation (17.02 points), Tata Consultancy Services (13.96 points) and Oil & Natural Gas Corporation (8.17 points).

However, State Bank Of India contributed rise of 6.43 points in the Sensex. It was followed by H D F C Bank (5.08 points), Bharat Heavy Electricals (4.66 points), Sterlite Industries (India) (1.03 points) and Bharti Airtel (0.62 points).

Major gainers in the 30-share index were Bharat Heavy Electricals (0.86%), State Bank Of India (0.76%), H D F C Bank (0.61%), Sterlite Industries (India) (0.24%), Bharti Airtel (0.11%), and Tata Steel (0.02%).

On the other hand, ACC (3.09%), Hindalco Industries (2.63%), Tata Consultancy Services (2.38%), Grasim Industries (2.34%), Reliance Communications (2.02%), and Jaiprakash Associates (1.87%) were the major losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts declining 0.63% and 0.56% respectively.

The major losers in the BSE Midcap were Allcargo Global Logistics (2.08%), Aban Offshore (1.96%), Alstom Projects India (1.48%), Reliance MediaWorks (1.02%) and Ackruti City (0.91%).

The major losers in the BSE Smallcap were A B G Shipyard (3.93%), Adhunik Metaliks (2.94%), Provogue (India) (2.06%), Ador Welding (1.59%) and Action Construction Equipment (0.91%).

Sectors in Limelight

The Oil & Gas index was at 10,531.69 down by 156.68 points or by 1.47%. The major losers were G A I L (India) (3.01%), Bharat Petroleum Corporation (2.09%), Aban Offshore (1.96%), Essar Oil (1.01%) and Cairn India (0.44%).

The IT index was at 5,342.79 down by 91.25 points or by 1.68%. The major losers were Aptech (2.92%), Oracle Financial Services Software (1.89%), Mphasis (1.64%), Infosys Technologies (1.6%) and H C L Technologies (0.01%).

The HC index was at 5,062.98 down by 79.19 points or by 1.54%. The major losers were Apollo Hospitals Enterprise (3.21%), Cipla (1.87%), Dishman Pharmaceuticals & Chemicals (1.8%), Divis Laboratories (1.22%) and Aurobindo Pharma (1%).

On the other hand, the Bankex index was at 10,205.37 up by 44.62 points or by 0.44%. The major gainers were Bank Of Baroda(1.44%), Canara Bank (1.02%), H D F C Bank (0.61%), Allahabad Bank (0.39%) and I C I C I Bank (0.01%).

Market Breadth

Market breadth was negative with 1,114 advances against 1,844 declines.

Value and Volume Toppers

Hindustan Copper topped the value chart on the BSE with a turnover of Rs. 3,120.92 million. It was followed by NMDC (Rs. 1,713.84 million), Mahindra Satyam (Rs. 1,403.85 million) and State Trading Corporation of India (Rs. 1,353.57 million).

The volume chart was led by Mahindra Satyam with trades of over 12.72 million shares. It was followed by Hindustan Organic Chemicals (8.79 million), Alok Industries (8.67 million) and Nagarjuna Fertilizers & Chemicals (7.76 million).