Post Session: Sensex sheds 348 pts on global concerns Analysis for Jul 11, 2014

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Extending its losing streak for fourth consecutive day, the Dalal-Street ended in red on Friday as worries about the health of Europe"s banking system along with lingering disappointment over the Union Budget spooked investors, prompting them to sell off equity. Investors turned cautious after worries emerged overnight about the financial stability of one of Portugal's largest financial firms, Espirito Santo International, which spread to the European stock and bond markets. The market sentiment was also dented by Jaitley"s maiden budget speech, which lacked major announcements.

The BSE SENSEX closed at 25024.35 down by 348.4 points or by 1.37 per cent and the NSE Nifty ended at 7459.6 down by 108.15 points or by 1.43 per cent.

During the day"s trade, the BSE Sensex touched intraday high of 25548.33 and intraday low of 24978.33, while the NSE Nifty touched intraday high of 7625.85 and intraday low of 7447.2.

Even, the broader market also lost ground in line with benchmark indices. The BSE MIDCAP closed at 8875.24 down by 256.94 points or by 2.81 per cent, while the BSE SMLCAP ended at 9688.11 down by 331.86 points or by 3.31 per cent.

On the Sectoral front, realty and capital goods indices declined 5.16 per cent and 4.75 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3133, shares advanced were 783 while 2263 shares declined and 87 were unchanged.

The top losers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 223.40,-8.10%), Hindalco Industries Ltd. (Rs. 166.45,-5.59%), State Bank of India (Rs. 2421.55,-4.96%), Larsen & Toubro Ltd. (Rs. 1574.45,-4.89%), Tata Steel Ltd. (Rs. 500.95,-4.01%), among others.

On the flip side, Sun Pharmaceutical Industries Ltd. (Rs. 741.45,+2.28%), Tata Consultancy Services Ltd. (Rs. 2398.00,+2.13%), Dr. Reddy's Laboratories Ltd. (Rs. 2704.95,+2.00%), Hindustan Unilever Ltd. (Rs. 640.90,+1.42%), Wipro Ltd. (Rs. 552.55,+1.42%), were among notable gainers on BSE.

Story first published: Friday, July 11, 2014, 17:36 [IST]
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