Mid-Session: Sensex down over 140 points; Metal index dips 2.4% Analysis for Sep 25, 2014

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The markets continued to trade in the negative territory during the afternoon session, led by loss in Metal index followed banking. Hindalco Industries, Axis Bank, Tata Steel, Bharat Heavy Electricals, State Bank of India was among the notable losers. With the coal block verdict and government delaying on gas pricing taking the sheen off the power and oil sector, and public sector bank' stocks, the domestic market remains on the back foot during the afternoon session of trade.

At 12:14 hour, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26603.34 down by -141.35 points or by -0.53 % and then NSE Nifty was at 7970 down by -32.4 points or by -0.4 %.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2743, shares advanced were 661 while 2014 shares declined and 68 were unchanged.

The BSE MIDCAP was at 9440.93 down by -139.9 points or by -1.46 %, while the BSE SMLCAP was at 10557.43 down by -234.01 points or by -2.17 %.

The top losers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 146.30,-6.40%), Axis Bank Ltd. (Rs. 382.95,-3.48%), Tata Steel Ltd. (Rs. 458.20,-3.19%), Bharat Heavy Electricals Ltd. (Rs. 205.80,-2.92%), State Bank of India (Rs. 2426.45,-2.45%), among others.

Meanwhile, top gainers of the BSE Sensex pack were Cipla Ltd. (Rs. 614.20,+2.31%), Tata Consultancy Services Ltd. (Rs. 2699.00,+2.10%), Dr. Reddy's Laboratories Ltd. (Rs. 3297.00,+2.00%), GAIL (India) Ltd. (Rs. 450.75,+1.76%), Coal India Ltd. (Rs. 356.05,+1.34%), among others.

Among the thirteen sectoral indices on BSE, BSE IT index was at 10567.38 up by 106.28 points or by 1.02%. Tata Consultancy Services Ltd. (Rs. 2699.00,+2.10%), Mahindra & Mahindra Ltd. (Rs. 2520.30,+1.59%), MindTree Ltd. (Rs. 1211.65,+1.07%), Infosys Ltd. (Rs. 3672.80,+0.64%), HCL Technologies Ltd. (Rs. 1713.80,+0.20%),.

In BSE, BSE Metal index was at 11436.42 down by -281.07 points or by -2.4%. Jindal Steel & Power Ltd. (Rs. 174.70,-7.91%), Hindalco Industries Ltd. (Rs. 146.30,-6.40%), Bhushan Steel Ltd. (Rs. 101.95,-4.99%), Tata Steel Ltd. (Rs. 458.20,-3.19%), JSW Steel Ltd. (Rs. 1194.55,-2.28%),.

Story first published: Thursday, September 25, 2014, 13:24 [IST]
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