Post Session- Sensex treads water amid global sell-off Analysis for Oct 16, 2014

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The key domestic benchmarks closed lower for a second day on the trot as the Sensex plunged by nearly 350 points amid losses in consumer durables and realty stocks as a global sell-off hit investor sentiment. Markets in Asia and Europe sank after overnight jitters at Wall Street after a surprise drop in retail sales in the US signaled that the world"s biggest economy was slowing at a time when Europe is in danger of succumbing to a fresh recession while China"s economic growth weakens. Investors awaited the results of assembly polls which are likely to show a victory for the BJP party.

The BSE SENSEX closed at 25,999.34, down by 349.99 points or by 1.33 per cent, and the NSE Nifty ended at 7,748.2, down by 115.8 points or by 1.47 per cent.

The BSE Sensex touched intraday high of 26,462.08 and intraday low of 25,933.98. The NSE Nifty touched intraday high of 7,893.9 and intraday low of 7,729.65.

Meanwhile, the BSE MIDCAP closed at 9,243.95, down by 229.13 points or by 2.42 per cent, while the BSE SMLCAP ended at 10,343.09, down by 288.16 points or by 2.71 per cent.

On the Sectoral front, Consumer Durables and Power shed 4.25 per cent and 2.91 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3160, shares advanced were 827 while 2229 shares declined and 104 were unchanged

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3160, shares advanced were 827 while 2229 shares declined and 104 were unchanged.

The top losers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 142.90,-5.46%), Mahindra & Mahindra Ltd. (Rs. 1218.85,-4.41%), Sesa Sterlite Ltd. (Rs. 239.35,-4.09%), Tata Steel Ltd. (Rs. 439.85,-3.92%), Tata Power Company Ltd. (Rs. 83.85,-3.29%), among others.

Story first published: Thursday, October 16, 2014, 17:00 [IST]
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