Post Market Review - Jan 14 2011

After putting on nearly 1.5% intraday, benchmark indices nosedived a hefty 3% from the highest point of the day to finish the day and the week deep in the red. Sensex lost 322 points to close at 18860 while Nifty finished at 5654, down 97 points. Realty, Banking, Metal and Auto stocks led the fall while IT stocks closed strong. SAIL tanked 6.4% on the back of reporting disappointing set of quarterly earnings announced yesterday after market hours. For the week, both the benchmark indices closed with mammoth cuts of 4.2% each. All the BSE sectoral indices finished in red on weekly basis with Capital Goods and Realty indices plunging the most, down 5.4% and 5.1% respectively. Inflation for the month of December came in at 8.43% compared to 7.48% for the previous month. European markets were trading lower by about half a percent while US stock indices futures were little changed ahead of data on retail sales, industrial production and consumer confidence.





For the day also, all the BSE sectoral indices closed in red with Realty and Banking indices leading the fall, down 2.8% and 2.6% respectively. wipro and HCL Tech were the top gainers among the Nifty stocks, putting on 1.9% and 1.3% respectively while SAIL and Axis Bank collapsed 6.4% and 5% respectively, becoming the top losers. BSE advance-decline ratio stood at 1:2.2.