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Rediff.com  » Business » Sensex crashes by 385 points at close

Sensex crashes by 385 points at close

Last updated on: July 17, 2006 17:09 IST

The markets saw a sharp fall due to heavy indiscriminate selling in scrips across sectors.

The markets across the globe have seen weakness but the Indian markets have taken a harder knock as compared to its Asian peers. The massive fall can be attributed to the geopolitical concerns and rising crude oil prices.

The Sensex closed below the 10300 mark and the Nifty just above the 3000 mark. It was the biggest single-day loss for Sensex since June 13. On the macroeconomic front, the rupee has slipped to 37 month low of 46.58/$.

The Sensex finally closed at 10,293.22 down by whopping 385 points.

The Nifty closed at 3008 down 116 points.

The BSE Small Cap Index closed at 5,175.91, down 115.19 points.

The BSE Midcap Index ended at 4,265.94, down 88.14 points.

All the BSE sectoral indices closed in red. Among the major laggards were auto, oil and gas, metal and capital goods.

Markets today:

Biggest single-day loss for Sensex since June 13 amid geopolitical tensions

Rupee hits new 37 month low at Rs 46.63

Sensex down 385 points or 3.6% at 10293.22

Nifty down 3.7% or 115.80 points at 3007.55; slips below 3000 intra-day

All BSE Sectoral Indices end in the red

BSE Auto Index down 4.4%; Tata Mot down 5.8%, Maruti down 5.1%

BSE Oil & Gas Index down 4%; ONGC slides 7.1%, RIL down 3.1%

BSE Metal Index down 3.8%; Sterlite down 5.4%, Hindalco down 4.5%

CNX Midcap Index down 2.4%, BSE Small-cap Index down 2.2%

NSE Advance-Decline ratio at 1:5

Total market turnover at Rs 28716.67 cr Vs Rs 31134.63 cr on Friday

The Auto index closed at 4,341.63 down 4.38%. M&M, Escorts, Tata Motors, TVS Motor, Ashok Leyland and Cummins closed lower.

The BSE Oil and Gas Index closed down 3.96% at 5,061.43. ONGC, GAIL, IOC and Petronet LNG were among the losers.

The BSE Metal Index was down 3.85% at 7,989.19. Sterlite Ind, Sesa Goa, Hindalco, SAIL and JSW Steel witnessed selling pressure.

The BSE Capital Goods Index down 3.2% at 6,722.01. Bharat Elec, Aban LoydChiles, Gammon India, Siemens and Praj Industries closed lower.

The BSE FMCG Index was down 2.97% at 1,906.91. Colgate, Shaw Wallace, HLL and Britannia closed in red.

The BSE IT Index was down 2.9% at 3,820.38. Satyam, I-Flex Solution, HCL Info and Patni Computer moved down.

The BSE Health care index was down 2.86% at 3,029.06. Dr Reddys Labs, Ranbaxy Labs, Cipla, Lupin and Sun Pharma slipped.

The BSE Bankex was down 2.8% at 4,144.62. Bank of India, SBI, Oriental Bank, UTI Bank and PNB were among the losers.

The BSE Consumer Durables Index lost 2.25% at 2,692.96. Titan Industries, Blue Star and Suraj Diamonds lost ground.

The NSE cash turnover was at Rs 5015.46 crore and the NSE F&O turnover was at Rs 21283.04 crore. The BSE cash turnover was Rs 2418.17 crore. Total market wide turnover was at Rs 28716.673 crore.

Sensex @ 1452 hrs

The markets have further moved downwards as selling takes place in scrips across sectors.

The Sensex has slipped below the 10400 level and was trading at 10342 down 335 points and the Nifty was trading at 3016 down 107 points at 2:52 pm.

Asian markets closed in red but Indian markets are seeing a sharper fall.

About 699 shares have advanced, 1562 shares declined, and 82 shares are unchanged.

The major laggards on the indices were Dr Reddys Labs, ONGC, Reliance Comm, Satyam, Jet Airways and Reliance Energy.

Heavyweights like Hindustan Lever was trading at Rs 231.35 down 4.74%, Reliance was trading at Rs 1,033.60 down 2.96% and ITC was trading at Rs 172.75 down 2.04%.

On the macroeconomic front, the rupee has slipped to 37 month low of 46.58/$.

Sensex @ 1403 hrs

The markets have lost further ground on the back of selling pressure.

At 2.03 pm, the Sensex was down 242.31 points or 2.27% at 10435.91, and the Nifty was down 77.80 points or 2.49% at 3045.55.

About 818 shares have advanced, 1389 shares declined, and 75 shares are unchanged.  All BSE sectoral indices were trading in red.

The BSE Auto index was down 2.53% at 4425.30. Stocks like Ashok Leyland, M&M, Tata Motors, TVS Motor and Bajaj Auto witnessing selling pressure.

The BSE metal and oil & gas indices were down 2.22% and 2.10% respectively.

The BSE FMCG and bank indices were also down by nearly 2%.  ONGC, Reliance Energy, Dr Reddys Labs, HLL and Jet Airways were top losers on the indices.

ONGC was quoting at Rs 1,056.90, down Rs 51.05, or 4.61%.

Reliance Energy was quoting at Rs 429, down Rs 17.1, or 3.83%.

Dr Reddys Labs was quoting at Rs 1,251.10, down Rs 53.5, or 4.1%.
Jet Airways has touched a 52-week low of Rs 514.20 and was quoting at Rs 515, down Rs 23.8, or 4.42%. 

Index heavyweight Hindustan Lever was trading at Rs 233 down 4.06% from its previous close of Rs 242.85.

Sensex @ 1300 hrs

The markets are trading in the red on account of weak global cues.

At 1:00 pm, the Sensex was trading at 10,533 down 144 points and the Nifty was trading at 3075 down 47 points.

About 820 shares have advanced, 1275 shares declined, and 76 shares are unchanged.

All the BSE sectoral indices are trading weak. Auto, banking and FMCG stocks are the worst hit indices.

The major laggards on the indices were ONGC down 3.80%, HLL down 3.42%, Reliance

Energy down 3.17%, Reliance Comm down 3.08% and Jet Airways down 3.89%.

However TCS, Guj Ambuja Cem and ACC were among the few gainers on the indices.

Reliance was trading at Rs 1,057.65 down 0.7%, Infosys was trading at Rs 1,637.35 down 0.81% and ITC was trading at Rs 174.50 down 1.05%.

On the corporate front India Cements has declared robust first quarter results. The company reported a net profit of Rs 112.5 crore (Rs 1.12 billion) against Rs 5.21 crore (Rs 52.1 million). Its revenues were up at Rs 491 crore (Rs 4.91 billion) from Rs 382 crore (Rs 3.82 billion).

Glenmark, Merck have entered into an agreement for the joint development, filing and marketing of 8 generic dermatological products for Europe, which have a current annual sales value of around $ 225 million in the region.

Sensex @ 1203 hrs

The markets have further moved southwards due to selling pressure in scrips across sectors.

At 12:03 pm the Sensex was trading at 10,502 down 175 points and the Nifty was trading at 3,065 down 57 points.

About 809 shares have advanced, 1165 shares declined, and 61 shares are unchanged.

All the BSE sectoral indices are trading weak. Auto and FMCG stocks are the worst hit indices.

The BSE auto index was down 2.08% and the FMCG index has shaved off around 1.68%.

Among the major laggards were HLL, Bajaj Auto, HDFC, ONGC, Jet Airways, M&M and GAIL.

However, TCS, Tata Power and Guj Ambuja Cem are among the gainers on the indices.

Hindustan Lever was trading at Rs 234.70 down 3.36% from its previous close of Rs 242.85.

Index heavyweight Reliance was trading at Rs 1,055.75 down 0.88% from its previous close of Rs 1,065.15.

Tech major Infosys was trading at Rs 1,630.50 down 1.23% from its previous close of Rs 1,650.75.

Cigarette major ITC was trading at Rs 174.35 down 1.13% from its previous close of Rs 176.35.

Sensex @ 1100 hrs

In the midst of earnings, the markets continue to trade at the lower levels on account of sustained selling pressure in index pivotals.

At 11:00 am, the Sensex was trading at 10,556 down 121 points and the Nifty was trading at 3,085 down 38 points.

The global cues are weak, global markets are languishing due to geopolitical concerns and the surge in crude oil prices.

About 794 shares have advanced, 778 shares declined, and 52 shares are unchanged.

The major laggards on the Sensex were Bajaj Auto down 2.62%, HLL down 2.16%, Dr Reddys Labs down 2.12% and HDFC down 1.9%. Jet Airways down 4.01%, Mah and Mah down 2.61% and GAIL down 2.3% were the losers on Nifty.

Hot space in the market today is cement in the midcap as well as large cap. Among the major gainers on the indices were TCS up 0.93%, ACC up 0.84%, Guj Ambuja Cem up 0.6% and Reliance Comm up 0.04%.

Hindustan Lever was trading at Rs 237.25 down 2.31%, Reliance was trading at Rs 1,062.00 down 0.3%, Infosys was trading at Rs 1,630.10 down 1.25% and ITC was trading at Rs 174.75 down 0.91%.

Sensex @ 0959 hrs

The markets opened in the negative terrain due to weak global cues.

At 9:59 am, the Sensex was down 100 points at 10,577 and the Nifty has moved below the 3100 mark. The Nifty was trading at 3,094 down 29 points.

The Asian indices are trading weak. The Dow tumbled 106.94 points, or 0.99%, due to surging oil prices.

On the corporate front:

Results today:

India Cements, Mid-day. Mah Seamless, TV Today, CMC, Geometric, GAIL, GHCL, Titan and Deepak Fert

Reliance Retail eyeing to buy Arvind Brands' Ruff n Tuff apparel

Tata Steel loses bid for South Africa's Highveld; Russia's Evraz bags it for USD 687 million

Aurion Pro close to acquiring US based firm - BS

Birla VXL board approves 4:7 rights issue at Rs 10 per share

Crew BOS allotted 30 acres of land by Rajasthan State Development; company says exploring options of making debut in retail 74.64 crore

Unitech shares issued ad bonus to hit markets today

Nirma closes in on US acquisition, likely to acquire Linear Alkyl Benzene manufacturing firm - ET

Essar Oil is set to reopen 300 odd closed pumps as dealers threatened to walk out of the agreement - ET

RIL plans Rs 2000 crore (Rs 20 billion) Mumbai IT park, no out of court settlement with NTPC - BS

Govt plans to give domestic airliners free hand in pricing tickets - BS

Vodafone open to the idea of increasing stake in Bharti Airtel - BS

Govt may lift ban on sugar exports in October, record output of 22 mt likely this season - BL

Bajaj Auto Q1:
Net sales up by 35% to Rs 2202.7 crore from Rs 1634.2 crore
Net profit up 27.28% to Rs 266 crore from Rs 208 crore
OPM at 16.34% versus 15.8%

Gruh Finance Q1:
Net profit at Rs 3.19 crore versus Rs 2.40 crore
Net sales at Rs 28.5 crore versus Rs 19.9 crore

Aban Lloyd Q1:
Net profit at Rs 19.1 crore versus Rs 20.6 crore
Net sales at Rs 123.8 crore versus Rs 121.8 crore
OPM at 53.7% versus 56.8%

Sakthi Sugars Q4:
Net profit at Rs 35.9 crore versus Rs 1.74 crore
Net sales at Rs 299.5 crore versus Rs 219.3 crore
OPM at 25% versus 13.7%

McDowell Q1:
Net profit at Rs 34.7 crore versus Rs 10.4 crore
Net sales at Rs 533.5 crore versus Rs 326.4 crore
OPM at 14.1% versus 10.1%

GNFC Q1:
Net profit at Rs 47.1 crore versus Rs 61.4 crore
Net sales at Rs 431 crore versus Rs 314 crore
OPM at 20.7% versus 24.8%
Optg profit at Rs 89.2 crore versus Rs 77.8 crore
Other income at Rs 5 crore versus Rs 40 crore

GSFC Q1:
Net profit at Rs 50 crore versus Rs 70 crore
Net sales at Rs 449 crore versus Rs 425 crore
OPM at 16.5% versus 24.2%

Gujarat Alkalies Q1:
Net profit at Rs 42.6 crore versus Rs 63.2 crore
Net sales at Rs 241.8 crore versus Rs 246.4 crore
OPM at 34.3% versus 48.6%

Madras Aluminium Q4:
Net profit at Rs 35 crore versus Rs 9.68 crore
Net sales at Rs 130 crore versus Rs 103 crore
OPM at 44.8% versus 21.1%
FY06 EPS at Rs 37

Micro Inks Q1:
Net loss at Rs 13.7 crore versus profit of Rs 22.8 crore
Net sales at Rs 233.7 crore versus Rs 206.9 crore
OPM at 1.77% versus 15.7%

Market cues:

FIIs net buy USD 3.10 million in equity on July 13

MFs net sell Rs 15.92 crore (Rs 159.2 million) in equity on July 13

NSE F&O Open Interest up by Rs 777 crore (Rs 7.77 billion) at Rs 28,453 crore (Rs 284.53 billion)

F&O cues:

Futures Open Interest up by Rs 663 crore (Rs 6.63 billion), Options Open Interest up by Rs 114 crore (Rs 1.14 billion)

Nifty Futures add 12 lakh shares in Open Interest

Nifty Futures at 32-point discount to spot

Stock Futures add 1.62 crore shares in Open Interest

Nifty Open Interest Put-Call ratio at 1.07

Nifty volume Put-Call ratio at 1.14

Nifty Puts shed 2.3 lakh, Calls add 3.3 lakh shares in Open Interest

Nifty 3000 Put sheds 1.5 lakh shares in Open Interest

Nifty 3200 Call adds over 1 lakh shares in Open Interest

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