Weak start to October...Sensex loses 1%

It was a weak start to October, as a truncated week ended in the negative terrain. The NSE Nifty and the BSE Sensex closed lower by 1% each, if it was not for Friday’s ~135 points pull back; markets would have been further more in the red. The week was full of negative days as out of four trading sessions, bears were in control for three days. The BSE Banking, Realty and the Metals index were among the major losers. On the other hand, only BSE Capital Goods index gained 0.7%.

IIP data for August will be closely watched next week. The quarterly results season will also kick off in right earnest with Infosys due to report on October 12. Earnings of non-IT companies will also be examined closely, especially in the backdrop of series of weak economic statistics of late. Inflation data will be out on October 14 and will have some bearing on sentiment as well.



Finally, BSE Sensex ended at 16,232 and NSE Nifty ended at 4,888.


Sensex top gainers: The top gainers in the Sensex were Reliance Power (up 5.8%), Reliance Infra (up 4.6%), Maruti Suzuki (up 2.8%), L&T (up 2.6%) and Reliance Capital (up 2%).

Sensex losers: The top losers in the Sensex were SBI (down 8.3%), Bharti Airtel (down 6.1%), ICICI Bank (down 5.8%), Hindalco (down 4.2%) and HDFC Bank (down 3.8%).

The BSE IT Index (down 0.6%):The top losers in the IT sector were Financial Tech (down 8.4%), Mphasis (down 6.3%), Mahindra Satyam (down 4%), Sasken Communication (down 3.5%) and Wipro (down 2.1%).

The top gainers were Oracle Financial (up 1.9%) and TCS (up 1.1%).

The BSE Healthcare Index (down 0.4%):The top losers in the Pharma space were Panacea Biotec (down 7.2%), Zandu Pharma (down 6.8%), Fresenius Kabi (down 4.8%), Emami (down 4%) and Morepen Labs (down 3.9%).

The top gainers were Wockhardt (up 2.2%), Torrent Pharma (up 2.1%), Dishman Pharma (up 2.1%), Sun Pharma (up 1.5%) and Dr Reddy's Labs (up 1.3%).

The BSE Banking Index (down 4.6%):The top losers in the banking space were SBI (down 8.3%), Allahabad Bank (down 7.7%), Union Bank Of India (down 5.8%), ICICI Bank (down 5.8%) and Andhra Bank (down 5%).

The BSE Auto Index (down 0.1%):The top losers in the auto space were Ashok Leyland (down 5.9%), Hindustan Motors (down 3.8%), Bajaj Auto (down 2.1%), Swaraj Mazda (down 1.9%) and M&M (down 1.1%).

The top gainers were Maruti Suzuki (up 2.8%), Tata Motors (up 2%) and Eicher Motors (up 0.4%).

The BSE Oil & Gas Index (down 0.5%):The top losers in the oil & gas space were Gujarat NRE Coke (down 14.3%), Essar Oil (down 4.2%), Great Offshore (down 3.9%), GSPL (down 3.3%) and Jindal Drilling (down 3.2%).

The top gainers were Bharat Petrol (up 3.3%), Indian Oil Corp (up 2.5%), Hindustan Petro (up 0.4%) and Shiv-Vani Oil (up 0.2%).

The BSE Capital Goods Index (up 0.7%):The top gainers in the Capital Goods space were Astra Microwave (up 6.7%), L&T (up 2.6%), BEML (up 2.2%), Praj Industries (up 0.6%) and Areva T&D (up 0.3%).

The top losers were Jyoti Structures (down 6.9%), Gammon India (down 6.9%), Usha Martin (down 6.1%), Thermax (down 5.4%) and Dredging Corp (down 4.6%).

The Cement Sector: The top losers were Shree Cement (down 4.6%), Birla Corp (down 4.3%), Ultratech Cement (down 4%), Dalmia Cement (down 3.2%) and Jk Cements (down 2.5%).

The top gainers in the cement sector were ACC (up 1.4%) and Binani Indus (up 0.2%).

The Telecom Sector: The top losers in the telecom space were Idea Cellular (down 8.4%), Gemini Comm (down 8.4%), Bharti Airtel (down 6.1%), Shyam Telecom (down 5.8%) and MTNL (down 4.1%).

RCom gained up 1.5% during the week.

The Realty Sector (down 1.5%):The top losers in the Realty space were Anant Raj Indus (down 5.6%), Peninsula Land (down 5.5%), HDIL (down 5%), Mahindra Lifespace (down 4.7%) and Sobha Developers (down 1.9%).

The top gainers were Akruti City (up 1.6%), Parsvnath (up 0.9%), Ansal Props (up 0.8%).

The Metals sector (down 0.8%):The top losers in the metals sector were Lloyds Metals (down 10.2%), Jindal Stainless (down 8.5%), Tata Metaliks (down 8.4%), Bhuwalka Steel (down 5.3%) and JSW Steel (down 4.6%).

The top gainers were Tata Sponge Iron (up 1.3%) and Tata Steel (up 1%).