Markets extend losses; Consumer Goods, Realty stocks weigh Analysis for Sep 24, 2014

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The key domestic benchmark indices extended losses with the Sensex falling more than 100 points and the Nifty breaking 8000 level ahead of Supreme Court's verdict on coal block allocation case today. According to the analysts, the investors would remain cautious ahead of the expiry of September derivative contracts tomorrow. Further, selling by foreign funds also weighed on sentiment. The major laggards on the D-street included BHEL, LT, Tata Steel, Tata Power, Cipla and Bharti Airtel among others.

At 10:15AM BSE SENSEX was at 26671.35, down by 104.34 points or by 0.39 per cent, while the NSE Nifty was at 8016.05, down by 1.5 points or by 0.02 per cent.

The BSE MIDCAP was at 9552.67, down by 143.48 points or by 1.48 per cent, while the BSE SMLCAP was at 10791.59 down by 177.71 points or by 1.62 per cent.

The BSE Sensex touched an intraday high of 26844.7 and an intraday low of 26641.76, while the NSE Nifty touched an intraday high of 8042.05 and an intraday low of 8007.6.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 755.60,+1.72%), Wipro Ltd. (Rs. 591.40,+1.57%), Coal India Ltd. (Rs. 339.50,+1.48%), ITC Ltd. (Rs. 375.50,+1.24%), Sun Pharmaceutical Industries Ltd. (Rs. 786.00,+0.74%), among others.

The top losers of the BSE Sensex pack were Bharat Heavy Electricals Ltd. (Rs. 212.95,-1.62%), Larsen & Toubro Ltd. (Rs. 1473.10,-1.58%), Bharti Airtel Ltd. (Rs. 400.30,-1.54%), Tata Power Company Ltd. (Rs. 83.90,-1.24%), Tata Motors Ltd. (Rs. 511.75,-1.17%), among others.

Among the sectors, In BSE, BSE_FMCG index was at 7639 up by 46.16 points or by 0.61%. Hindustan Unilever Ltd. (Rs. 753.00,+1.37%), ITC Ltd. (Rs. 374.20,+0.89%), Godrej Consumer Products Ltd. (Rs. 1011.40,+0.69%), Jubilant Foodworks Ltd. (Rs. 1235.65,+0.35%), United Spirits Ltd. (Rs. 2365.00,+0.26%),.

On the flip side, In BSE, BSE Realty index was at 1646.78 down by -26.7 points or by -1.6%. Prestige Estates Projects Ltd. (Rs. 219.00,-5.03%), Unitech Ltd. (Rs. 21.20,-3.42%), Indiabulls Real Estate Ltd. (Rs. 67.35,-3.23%), Anant Raj Ltd. (Rs. 55.35,-3.15%), Housing Development & Infrastructure Ltd. (Rs. 87.60,-2.50%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2266 shares traded, 765 shares advanced, 1435 shares declined while 66 remained unchanged.

Story first published: Wednesday, September 24, 2014, 10:48 [IST]
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