Mid-Market-Sensex down 276 points; M&M, SSLT weigh Analysis for Aug 08, 2014

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Markets continued to remain weak during the noon trading session as geopolitical tensions escalated after Barack Obama authorized air strikes in Iraq. Sensex was down by 276 points amid selling pressure in index heavyweights including Mahindra and Mahindra, SSLT, BHEL, Tata Power and Axis Bank among others.

At 12:21PM BSE SENSEX was at 25312.5 down by 276.51 points or by 1.08 per cent, while the NSE Nifty was at 7563.05, down by 86.2 points or by 1.13 per cent.

The BSE MIDCAP was at 8974.22, down by 176.52 points or by 1.93 per cent, while the BSE SMLCAP was at 9822.18, down by 221.03 points or by 2.2 per cent.

The BSE Sensex touched an intraday high of 25406.87 and an intraday low of 25276.34, while the NSE Nifty touched an intraday high of 7592.45 and an intraday low of 7554.4.The top gainers of the BSE Sensex pack were Dr. Reddy's Laboratories Ltd. (Rs. 2787.00,+1.13%), Tata Consultancy Services Ltd. (Rs. 2492.50,+0.90%), Bharti Airtel Ltd. (Rs. 368.00,+0.53%), ITC Ltd. (Rs. 346.60,+0.19%), among others.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 275.90,-3.11%), Mahindra & Mahindra Ltd. (Rs. 1209.10,-3.02%), Bharat Heavy Electricals Ltd. (Rs. 223.80,-2.78%), Axis Bank Ltd. (Rs. 371.30,-2.58%), Tata Power Company Ltd. (Rs. 92.60,-2.58%), among others.

Among the sectors, In BSE, BSE_HCS index was at 12089.13 up by 3.01 points or by 0.02%. Wockhardt Ltd. (Rs. 709.05,+1.92%), Apollo Hospitals Enterprise Ltd. (Rs. 1006.35,+1.84%), Aurobindo Pharma Ltd. (Rs. 726.50,+1.80%), Dr. Reddy's Laboratories Ltd. (Rs. 2787.00,+1.13%), Divi's Laboratories Ltd. (Rs. 1506.25,+0.19%),.

On the flip side, In BSE, BSE Power index was at 2064.29 down by -57.61 points or by -2.72%. Jaiprakash Power Ventures Ltd. (Rs. 17.40,-4.92%), Torrent Power Ltd. (Rs. 125.45,-4.31%), JSW Energy Ltd. (Rs. 74.15,-3.95%), Reliance Power Ltd. (Rs. 86.30,-3.90%), Adani Power Ltd. (Rs. 53.55,-3.69%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares 2720 traded, 688 shares advanced, 1942 shares declined while 90 remained unchanged.

Story first published: Friday, August 8, 2014, 12:48 [IST]
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