Mid-Market—Sensex stays under pressure; Banking, Metal stocks weigh Analysis for Jun 20, 2013

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The 30-share benchmark index Sensex continued the lacklustre trade during mid-session, plunging 400 points, as investors were jittery after Fed signaled end of road for asset purchase programme later this year. Heavyweight stocks like Jindal Steel, ICICI Bank, Hindalco Industries, HDFC Bank, among others were leading the decline. At 1:12PM BSE SENSEX was at 18844.24 down by 401.46 points or by 2.09 per cent while NSE Nifty was at 5699.55 down by 122.7 points or by 2.11 per cent.

The rupee, in line with other currencies, plunged sharply in the morning session and touched 60 to the US dollar—new all-time low.

US Federal Reserve Chairman Ben Bernanke on Wednesday spooked investors by confirming that central bank will this year start winding up its policy of pumping billions of dollars into the bond market every month—a programme called as Quantitative Easing.

The BSE MIDCAP was at 6154.46 down by 81.33 points or by 1.3 per cent, while the BSE SMLCAP was at 5763.16 down by 75.61 points or by 1.29 per cent.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 978.70,+1.83%), Wipro Ltd. (Rs. 347.30,+1.24%), Bajaj Auto Ltd. (Rs. 1847.20,+0.65%), Cipla Ltd. (Rs. 380.00,+0.04%), among others.

The top losers of the BSE Sensex pack were Jindal Steel & Power Ltd. (Rs. 228.55,-7.02%), Hindalco Industries Ltd. (Rs. 97.80,-6.14%), Tata Steel Ltd. (Rs. 275.15,-5.30%), Sterlite Industries (India) Ltd. (Rs. 81.75,-4.11%), NTPC Ltd. (Rs. 139.25,-3.93%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2154, shares advanced were 554 while 1485 shares declined and 115 were unchanged.

In BSE, BSE Realty index was at 1536.83 down by -72.62 points or by -4.51%. DLF Ltd. (Rs. 175.55,-7.14%), Indiabulls Real Estate Ltd. (Rs. 67.30,-6.01%), Unitech Ltd. (Rs. 21.15,-4.94%), Housing Development & Infrastructure Ltd. (Rs. 36.70,-4.68%), Oberoi Realty Ltd. (Rs. 202.10,-3.83%),.

In BSE, BSE Metal index was at 7746.95 down by -344.54 points or by -4.26%. Jindal Steel & Power Ltd. (Rs. 228.55,-7.02%), Hindalco Industries Ltd. (Rs. 97.80,-6.14%), NMDC Ltd. (Rs. 100.35,-5.82%), Tata Steel Ltd. (Rs. 275.15,-5.30%), Steel Authority of India (SAIL) Ltd. (Rs. 54.15,-4.24%),.

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Story first published: Thursday, June 20, 2013, 13:36 [IST]
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