As predicted in yesterday’s market outlook, correction phase in Indian stock market continued for the seventh successive day. Concern of a lower than estimated GDP growth this fiscal, tepid corporate earnings and fear of a populist budget keeping an eye on the 2014 Lok Sabha election has raised a sense of cautiousness among investors and is the main reason for signs of weakness in Indian market. Even after a negative start today, the market at times tried to get into positive territory but a major sell-off in the last 30 minutes dragged down the Indian stock market indices to nearly 6-week low.
The 30-share BSE Sensex lost 95.55 points to close at 19484.77. The 50-share NSE Nifty fell by 35.30 points, to end at 5903.50.
21 out of 30-share Sensex pack declined while only nine shares finished with gains. Major losers from the Sensex included Cipla (3.34 %), Sterlite Ind (3.20 %), Hindalco Ind (3.18 %), Maruti Suzuki (2.27 %), ONGC (2.02 %), Dr Reddy's Lab (1.99 %), Hero MotoCorp (1.96 %), SBI (1.75 %), M&M (1.41 %), Coal India (1.41 %), Jindal Steel (1.34 %), ICICI Bank (1.31 %), Tata Motors (1.39 %), Tata Steel (1.01 %) and HUL (0.96 %). However, TCS rose by 2.58 %, followed by Wipro (1.57 %), HDFC Bank (1.24 %), BHEL (1.21 %) and L&T (0.89 %).
Among the 13 sectoral indices, nine sectors closed in red zone while remaining four sectors closed in green zone. Top gainers in the Sensex pack were: BSE IT up by 0.86 %, BSE TECk up by 0.69 % and BSE Capital Goods up by 0.48 % and BSE Consumer Durables up by 0.12 %. Top losers were: BSE Metal down by 1.70 %, BSE PSU down by 1.23%, BSE Realty down by 1.19% and BSE Auto down by 1.18%. The market breadth stood in favor of advances. Of the 2959 stocks traded on the BSE, 763 (25.79%) rose, 1397 (47.21%) fell and 799 (27%) stocks remained unchanged
The 30-share BSE Sensex lost 95.55 points to close at 19484.77. The 50-share NSE Nifty fell by 35.30 points, to end at 5903.50.
21 out of 30-share Sensex pack declined while only nine shares finished with gains. Major losers from the Sensex included Cipla (3.34 %), Sterlite Ind (3.20 %), Hindalco Ind (3.18 %), Maruti Suzuki (2.27 %), ONGC (2.02 %), Dr Reddy's Lab (1.99 %), Hero MotoCorp (1.96 %), SBI (1.75 %), M&M (1.41 %), Coal India (1.41 %), Jindal Steel (1.34 %), ICICI Bank (1.31 %), Tata Motors (1.39 %), Tata Steel (1.01 %) and HUL (0.96 %). However, TCS rose by 2.58 %, followed by Wipro (1.57 %), HDFC Bank (1.24 %), BHEL (1.21 %) and L&T (0.89 %).
Among the 13 sectoral indices, nine sectors closed in red zone while remaining four sectors closed in green zone. Top gainers in the Sensex pack were: BSE IT up by 0.86 %, BSE TECk up by 0.69 % and BSE Capital Goods up by 0.48 % and BSE Consumer Durables up by 0.12 %. Top losers were: BSE Metal down by 1.70 %, BSE PSU down by 1.23%, BSE Realty down by 1.19% and BSE Auto down by 1.18%. The market breadth stood in favor of advances. Of the 2959 stocks traded on the BSE, 763 (25.79%) rose, 1397 (47.21%) fell and 799 (27%) stocks remained unchanged
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