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| After a sharp gap down opening markets drifted further lower in first hour of trade, plunging nearly 2.6% compared to yesterday's close, but saw a smart recovery thereafter to end with losses of about 1%. Sensex lost 191 points to close at 16859 while Nifty ended at 5036, down 58 points. BSE Midcap and Smallcap indices lost 1.1% each. Big boy Reliance came out with better than expected results. The company reported a profit of Rs. 4008 cr against market expectation of about 3950 cr. GRMs stood at $5.9/bbl versus expectation of about $5.5/bbl. ITC also came out with good set of results, reporting profit of Rs. 1144 cr versus expectation of Rs. 1082 cr. The stock gained 2.1% in today's trade. PSU stocks surged after reports that NMDC will file for FPO by January 25. Turnover at Rs. 159537 cr was the highest ever. On weekly basis, Sensex and Nifty are down about 4% each. Realty Index plunged 8%, followed by Capital Goods index, down 6.5%. European markets were trading down by about a percent, led lower by banks. US stock indices futures were marginally in the red. |
| FMCG and PSU indices were the sole gainers among the BSE sectoral indices, putting on 1.3% and 0.4% respectively while Realty and IT indices lost the most, shedding 1.7% and 1.6% respectively. BHEL and ITC were the top gainers among the Sensex stocks, up 3.3% and 2.1% respectively, while Tata Steel and L & T lost 3.7% and 3.4% respectively. BSE advance-decline ratio stood at 1:2.4. |
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