Selling pressure in the oil segment saw the Sensex plummet by 2.45%.
The market took a sharp dip in the early trades and continued to move down. The Sensex began the trading session with a negative gap of 170 points at 9160 and
exhibited weakness through the day. The selling pressure in front-line stocks kept the metal and reality stocks in the red that dragged down the index to an intra-day low of 9034. The Sensex pared some losses on selective buying in power and PSU stocks and ended the session with losses of 229 points at 9101. The Nifty was 50 points down and closed at 2797.
The breadth of the market was negative. Of the 2,455 stocks traded on the BSE, 1,342 stocks declined, 1,018 stocks advanced and 95 stocks ended unchanged. Among the sectoral indices the BSE Metal Index shed 3.76% followed by the BSE Reality Index (down 3.31%) and the BSE Bankex (down 3.11%). On the other hand, the BSE Power Index was up 1.44%.
Among the Sensex stocks, Tata Steel tumbled 6.22% at Rs195.25, Bharti Airtel plunged 5.40% at Rs612, Reliance Communication slumped 4.76% at Rs176.15, JP Associate dropped 4.41% at Rs66.15, ICICI Bank shed 4.10% at Rs396.10, Reliance Communication lost 3.88% at Rs1182, Sterlite Industries was down 3.75% at Rs260.50 and Hindalco declined 3.65% at Rs48.90. The other front-line stocks lost around 1-3% each. However, NTPC was marginally up at Rs185.70, Reliance Infra gained 3.16% at Rs552 and Tata Power was up at Rs769.95.
Over 4.59 crore Satyam shares changed hands on the BSE followed by Cals Refinery (2.71 crore shares), Unitech (2.47 crore shares), GVK Power (1.15 crore shares) and Suzlon (98.36 lakh shares).
European Indices at 16:00 IST on 20-01-2009
Index
Level
Change (pts)
Change (%)
FTSE 100 Index
4166.89
82.24
1.42
CAC 40 Index
3014.13
24.44
0.79
DAX INDEX
4362.21
45.71
1.06
Asian Indices at close on 20-01-2009
Index
Level
Change (pts)
Change (%)
Nikkei 225
8065.79
-191.06
-2.31
Hang Seng Index
12959.77
-380.22
-2.85
Kospi Index
1126.81
-23.84
-2.07
Straits Times Index
1723.37
-23.62
-1.35
Jakarta Composite Index
1344.15
-6.54
-0.48
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. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. SHAREKHAN will not treat recipients as customers by virtue of their receiving this report. The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavour to update the information herein on reasonable basis, SHAREKHAN, its subsidiaries and associated companies, their directors and employees (?SHAREKHAN and affiliates?) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent SHAREKHAN and affiliates from doing so. We do not represent that information contained herein is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is not intended to be and must not alone betaken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of Sharekhan may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject SHAREKHAN and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction. SHAREKHAN & affiliates may have used the information set forth herein before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the securities mentioned or related securities. SHAREKHAN may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall SHAREKHAN, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. Any comments or statements made herein are those of the analyst and do not necessarily reflect those of SHAREKHAN.?
