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Post-market: Sensex slumps on global woes
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Tuesday, June 29, 2010 |
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| | June 29, 2010 | 5:30 PM | Sensex slumps on global woes
The Sensex tumbles owing to heavy sell-off across the globe on China and Europe woes | | | | | | | Major headlines | - State Bank of India sets base rate at 7.5%; the stock ends 0.31% lower
- Alembic hits 52-week high; the stock closes 11.53% higher
- NATCO Pharma hits 52-week high; the stock closes 4.19% higher
| Indian indices
The Indian markets failed to carry previous session's gains in today's trade as the bolt from China comes to disrupt the markets. The domestic indices traded weak all through the day and ended the session with a sharp cut tracking extremely negative global cues. The sentiments turned sour after the conference board in China corrected down its April 2010 gauge for the outlook of China's economy that led the Shanghai Composite index to hit the 14-month low. In Europe, the investors grew nervous over the funding situation of banks about to repay 442 billion euros ($545.5 billion) to the European Central Bank, which also led the fall.
The key benchmark index, Sensex, began the session mere four points higher at 17778. The index in few minutes of trade turned negative and expanded its losses in the morning session mirroring weak Asian markets. In the afternoon session, the Sensex stretched its losses to touch the day's low of 17466 after the European markets plunged to its three-week lower level along with tremendous selling | | | INDEX PERFORMANCE |  | | | | | | | | MARKET INDICATORS | | | | | | | | | | | Aban Offshore | 822.25 | 4.01 | | | Power Finance | 296.25 | 2.67 | | | Cummins India | 596.15 | 1.83 | | | | | Koustons Retail | 298.75 | -6.02 | | | | | Aditya Birla Nuvo | 757.50 | -4.81 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | pressure in metal, realty and banking stocks. However, the Sensex trimmed some losses in the late trade to finally close at 17534, 240 points lower. The Nifty signed off the session 77 points lower,
at 5256.
Market sentiment
The market breadth was negative as declining shares outnumbered the advancing ones. Of the 2,989 stocks traded on the BSE, 1,726 stocks declined, whereas 1,130 stocks advanced. Hundred and thirty three stocks closed unchanged.
Viewing volumes
Anil Dhirubhai Ambani Group (ADAG) firm ? Reliance Natural Resources saw highest trading with over 0.91 crore shares changing hands on the BSE, followed by telecom infrastructure company ? GTL Infrastructure (0.64 crore shares), India's second largest developer ? Unitech (0.39 crore shares), state-run oil refiner ? Hindustan Petroleum Corporation (0.33 crore shares) and India?s second largest telecom firm ? Reliance Communications (0.33 crore share).
| Sectoral & stock screening
Bears trampled all the sectors, with BSE Metal declining the most by 2.74%. BSE Realty fell by 1.55% and BSE Bankex slipped by 1.47%. The remaining sector indices were down by around 0.36%-1.36%.
Among 'A' group stocks' front, Aban Offshore gained the most by 4.01%, followed by Power Finance Corporation that advanced by 2.67% and Cummins India that rose by 1.83%. Among losers, Koutons Retail slid the most by 6.02%, followed by Max India that fell by 5% and Aditya Birla Nuvo that shed 4.81%. |  | | | |
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| Global signals
European stocks slumped to its lowest level in the three weeks on Tuesday (June 29, 2010) on renewed fears over funding in the euro zone ahead of bank repayments to the European Central Bank (ECB) this week. The banks must repay 442 billion euro ($545.5 billion) to the ECB on Thursday (July 01, 2010), leaving a potential liquidity shortfall in the financial system of over 100 billion euro.
All the major Asian indices ended the session on a negative note. China?s Shanghai Composite fell over 4%, while Hong Kong?s Hang Seng index declined over 2%. SGX Nifty closed 77.50 points lower.
| | | | The US stock index futures signal steep losses on the Wall Street on Tuesday, as investors await data for the Home Price Index for April and consumer confidence data for June.
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posted by Anonymous @ 3:10 PM  |
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