Post Session- Markets sink amid global sell-off, Sensex tanks 387 points Analysis for May 23, 2013

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The key domestic benchmarks succumbed to a heavy sell-off on Thursday as the Sensex crashed by 387 points tracking sharp losses across markets in Asia and Europe as an unexpected contraction in China"s manufacturing and fears of a probable near-term Fed stimulus exit spooked investors. Asian markets sank while those in Europe tumbled after China"s manufacturing contracted for the first time in seven months in May and US Federal Reserve Chairman Ben Bernanke hinted that the central bank may taper its QE program in the coming policy meetings if the labour market continues to improve.

The BSE SENSEX closed at 19,674.33, down by 387.91 points or by 1.93 per cent and the NSE Nifty ended at 5,967.05, down by 127.45 points or by 2.09 per cent.

The BSE Sensex touched intraday high of 20,027.56 and intraday low of 19,634.79. The NSE Nifty touched intraday high of 6,081.45 and intraday low of 5,955.7.

Meanwhile, the BSE MIDCAP closed at 6,363.82, down by 128.95 points or by 1.99 per cent, while the BSE SMLCAP ended at 5,974.45, down by 134.62 points or by 2.2 per cent.

On the Sectoral front, Realty and Capital goods shed 5.95 per cent and 5.19 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 2505, shares advanced were 629 while 1754 shares declined and 122 were unchanged.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 2176.20,-7.96%), Larsen & Toubro Ltd. (Rs. 1418.65,-6.49%), Jindal Steel & Power Ltd. (Rs. 291.10,-4.05%), Reliance Industries Ltd. (Rs. 785.15,-3.99%), NTPC Ltd. (Rs. 148.65,-3.88%), among others.

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Story first published: Thursday, May 23, 2013, 17:20 [IST]
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