Sensex closes 286.62 points lower; DLF, JP Associates plunge

Indian markets continued to fall for the second day on Thursday. The Indian stock market witnessed a sharp decline today led by heavyweights Reliance Industries, ICICI Bank and Housing Development Finance Corporation. Aggressive selling pressure dragged Nifty below 6,200 mark. Realty, oil & gas, teck and PSU was badly hit in the sectoral space.



On global front, European stocks gained, rebounding from the biggest drop in two weeks, as mining companies rallied after Moody`s Investors Service raised China`s debt rating.
Asian stocks climbed, with the regional benchmark index advancing toward a more than two-year high, as Moody`s Investors Service raised the Chinese government`s bond rating and Japanese banks rose on a brokerage upgrade.

At close, the benchmark 30-share index, BSE Sensex declined 286.62 points or 1.37% at 20,589.09 with 25 components registering drop. Meanwhile, the broad based NSE Nifty went down by 81.45 points or 1.30% at 6,194.25 with 42 components registering drop.

Sensex Movers

Reliance Industries contributed fall of 46.1 points in the Sensex. It was followed by I C I C I Bank (24.01 points), Housing Development Finance Corporation (21.28 points), Tata Consultancy Services (19.73 points) and Larsen & Toubro (19.64 points).

However, Hindalco Industries contributed rise of 10.38 points in the Sensex. It was followed by Mahindra & Mahindra (4.3 points), Tata Power Company (4.27 points), Reliance Infrastructure (2.25 points) and Sun Pharmaceutical Industries (0.67 points).

Biggest gainers in the 30-share index were Hindalco Industries (2.65%), Tata Power Company (1.47%), Reliance Energy (1.16%), Mahindra & Mahindra (1.00%), and Hero Honda Motors (0.12%).

On the other hand, D L F (4.41%), Jaiprakash Associates (3.28%), Bharti Airtel (3.26%), Cipla (3.22%), Bharat Heavy Electricals (2.66%), and Tata Consultancy Services (2.49%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps outperformed their larger counterparts declining 1.12% and 0.47% respectively.

The major losers in the BSE Midcap were Core Projects and Technologies (2.07%), Alstom Projects India (1.28%), Allahabad Bank (0.76%), Ackruti City (0.65%) and Aban Offshore (0.59%).

The major losers in the BSE Smallcap were Aarti Industries (9.84%), A K Capital Services (4.07%), Reliance MediaWorks (2.93%), Provogue (India) (2.12%) and A B G Shipyard (1.52%).

Sectors in Limelight

The Realty index was at 3,673.56, down by 119.66 points or by 3.15%. The major losers were D L F (4.41%), Housing Development and Infrastructure (4.04%), Indiabulls Real Estate (2.3%), Sunteck Realty (0.99%) and Ackruti City (0.65%).

The Oil & Gas index was at 10,900.06, down by 204.87 points or by 1.84%. The major losers were G A I L (India) (1.83%), Essar Oil (1.74%), Bharat Petroleum Corporation (1.26%), Cairn India (0.81%) and Aban Offshore (0.59%).

The TECk index was at 3,745.28, down by 60.3 points or by 1.58%. The major losers were Dish TV India (4.11%), Bharti Airtel (3.26%), Mphasis (3.18%), Reliance MediaWorks (2.93%) and Idea Cellular (0.87%).

The PSU index was at 10,241.92, down by 148.19 points or by 1.43%. The major losers were Bank Of India(2.95%), Bank Of Baroda (1.3%), Allahabad Bank (0.76%), Balmer Lawrie & Company (0.7%) and Andhra Bank (0.31%).

Market Breadth

Market breadth was negative with 1,315 advances against 1,728 declines.

Value and Volume Toppers

Coal India topped the value chart on the BSE with a turnover of Rs. 2,906.97 million. It was followed by Delta Corp (Rs. 2,735.15 million), State Bank Of India (Rs. 1,827.10 million) and Reliance Power (Rs. 1,669.38 million).

The volume chart was led by Dynamic Infotel with trades of over 26.15 million shares. It was followed by Delta Corp (20.69 million), Birla Power Solutions (19.93 million) and Alok Industries (17.30 million).