Mid Market- Sensex extends losses; Consumer Durables, Realty drag Analysis for Feb 01, 2012

The 30-share benchmark index of BSE, Sensex so far remained choppy during the Wednesday's trading session even as experts opine that markets were consolidating after Tuesday's 300 points rally. IT, Consumer Durables, and Banking stocks were under selling pressure even as banking stocks like ICICI bank tanked over 2 per cent after gaining 6 per cent on Tuesday. Also, RIL and Auto stocks were quiet strong since start and were also limiting the fall in benchmark indices. Broader markets too outperformed even as the BSE midcap was at 5888.88 up by 17.18 points or by 0.29 per cent while the BSE smallcap was at 6514.25 up by 50.95 points or by 0.79 per cent.

At 12:30PM BSE SENSEX was at 17080.03 down by 113.52 points or by 0.66 per cent and then NSE Nifty was at 5175.65 down by 23.6 points or by 0.45 per cent.

Going ahead, market sentiments might be depressed by India's ballooning trade deficit rose to USD 12.7 billion for the December 2011 month. Even though India's manufacturing PMI data released by HSBC market showed that manufacturing rose to 8-months high in January 2012, but sentiments were depressed by HSBC's statement which said that Indian markets may need some policy changes so as to continue the rally seen in first month of 2012.

The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 316.60,2.78%), DLF Ltd. (Rs. 210.80,2.36%), ICICI Bank Ltd. (Rs. 880.90,2.34%), Oil And Natural Gas Corporation Ltd. (Rs. 269.60,2.27%), Housing Development Finance Corporation Ltd. (Rs. 681.60,2.17%), among others.

In BSE, BSE_CDS index was at 5787.44 down by 118.95 points or by 2.01%. Titan Industries Ltd. (Rs. 194.70,3.76%), TTK Prestige Ltd. (Rs. 2300.15,3.04%), Videocon Industries Ltd. (Rs. 172.50,1.12%), VIP Industries Ltd. (Rs. 111.95,0.71%), Gitanjali Gems Ltd. (Rs. 308.40,0.63%).

In BSE, BSE Realty index was at 1684.27 down by 23.78 points or by 1.39%. Indiabulls Real Estate Ltd. (Rs. 68.55,3.52%), Phoenix Mills Ltd. (Rs. 174.45,3.51%), DLF Ltd. (Rs. 210.80,2.36%), Oberoi Realty Ltd. (Rs. 247.00,1.44%), Sobha Developers Ltd. (Rs. 257.90,1.43%).

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