| | | | Index Performance | | Index | Sensex | Nifty | | Open | 13,721.42 | 4,223.90 | | High | 13,978.26 | 4,224.70 | | Low | 13,543.47 | 4,117.90 | | Today's Cls | 13,570.31 | 4,126.90 | | Prev Cls | 13,994.96 | 4,223.05 | | Change | -424.65 | -96.15 | | % Change | -3.03 | -2.28 | | | | Market Indicators | | Top Movers (Group A) | | Company | Price
(Rs) | %
chg | | Gainers | | OnMobile Global | 495.35 | 8.55 | | NMDC | 237.30 | 3.67 | | Akruti City | 966.15 | 3.64 | | Sun Pharma | 1,470.20 | 3.28 | | Sesa Goa | 127.25 | 3.12 | | Losers | | Ranbaxy Lab | 308.85 | -11.05 | | Deccan Chronicle | 103.85 | -10.93 | | Rolta India | 260.40 | -9.61 | | GMDC | 156.00 | -8.96 | | Sintex Industries | 281.10 | -8.53 | | | Market Statistics | | - | BSE | NSE | | Advances | 760 | 250 | | Declines | 1,823 | 947 | | Unchanged | 69 | 25 | | Volume(Nos) | 23.29cr | 41.89cr | | | | | | Market Commentary | | | Battered | | Across-the-board selling pressure led by weakness in information technology (IT) stocks saw the Sensex shed 3.03%. | | The correction continued for the second consecutive day on weak global indices and rising crude prices. Dwindling foreign fund inflows into the domestic market in the past | 
| | | few sessions also adversely affected the sentiment. After shedding around 200 points by mid-morning, the market remained in the negative territory, however in afternoon it came close to erasing its losses. But, the mood turned extremely bearish, as widespread selling in IT, realty, banking and teck stocks dragged the index below the 13,600 mark to an intra-day low of 13,543. The Sensex finally managed to pare some of its losses and close at 13,570, down 425 points. The broad-based Nifty closed at 4,127, down 96 points.
The breadth of the market was extremely negative. Of the 2,652 stocks traded on the BSE, 1,823 stocks declined, whereas only 760 stocks advanced. The remaining 69 stocks remained unchanged. All the sectoral indices on the BSE were hammered. The BSE IT was the worst hit and tanked 5.07% at 3,455 followed by the BSE Realty index (down 4.68% at 3,903.82), the BSE Bankex (down 4.19% at 6,804.42) and the BSE Teck index (down 3.54% at 2,763.73).
Barring ACC and Tata Power, all other Sensex stocks bore the brunt of heavy selling. Ranbaxy Laboratories led the slump and crashed 11.05% at Rs308.85. Among other major laggards, DLF tumbled 6.25% at Rs394.60, Satyam Computer Services dropped 5.98% at Rs331.65, Tata Consultancy Services slumped 5.91% at Rs720.75, Wipro fell 5.77% at Rs390.45 and HDFC declined 5.53% at Rs2,198.05. ICICI Bank lost 5.48% at Rs599.70, Infosys Technologies was down by 5.19% at Rs1543.35 and Tata Motors shed 5.03% at Rs394.05. The other major front-line stocks shed 1-4% each. However, ACC rose marginally at Rs626.20 up 0.27% and Tata Power rose 0.16% at Rs1,022.30.
IT stocks lost significantly on relentless selling. Rolta India dropped 9.61% at Rs260.40, Moser Baer India shed 8.46% at Rs122.25, NIIT tumbled 5.21% at Rs58.25 and Tech Mahindra declined 3.11% at Rs636.20. Aptech, Oracle, Mphasis and Patni Computer shed 2% each.
Over 1.86 crore Sesa Goa shares changed hands on the BSE followed by Reliance Natural Resources (1.67 crore shares), Apollo Tyre (0.74 crore shares), IFCI (0.67 crore shares) and Cals Refineries (0.62 crore shares).
Value-wise, Reliance Industries registered a turnover of Rs395 crore on the BSE followed by Reliance Capital (Rs277 crore) and Sesa Goa (Rs239 crore). | | | | | | | | European Indices at 16:00 IST on 23-09-2008 | | | | Index | Level | Change (pts) | Change (%) | | Nikkei 225 | 12090.59 | - | - | | Hang Seng Index | 18872.85 | -759.35 | -3.87 | | Kospi Index | 1481.37 | 21.03 | 1.44 | | Straits Times Index | 2476.51 | -67.62 | -2.66 | | Jakarta Composite Index | 1873.10 | -24.24 | -1.28 | | | | | | | | | | | Asian Indices at close on 23-09-2008 | | | | Index | Level | Change (pts) | Change (%) | | FTSE 100 Index | 5133.11 | -103.15 | -1.97 | | CAC 40 Index | 4164.60 | -58.90 | -1.39 | | DAX Index | 6074.66 | -33.09 | -0.54 | | | | | | | | To know more about our products and services, click here. | | | | | | | “This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
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