Post Session-Sensex tanks 230 points amid global growth concern Analysis for Dec 11, 2014

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The key domestic benchmarks ended lower on Thursday as investors continued to sell in equities after declining crude oil prices added to concerns over slowdown in global growth. Among the sectors, all the sectoral indices on BSE surrendered to selling pressure, however stocks from Healthcare counter was the only gainer. Besides, caution ahead of the release of key macroeconomic data such as consumer price index (CPI) based inflation and Index of Industrial Production (IIP) data weighed on the sentiments of the investors.

On the global front, Asian markets too ended in red on Thursday, on global growth concerns and as tumbling oil prices hit energy firms. Crude oil prices fell as much as 5 per cent overnight on weak US demand and Saudi Arabia reaffirming that it has no plans to curb output. Meanwhile, European shares fell in early trade on Thursday, losing ground for the fourth session in a row, as the slump in oil and iron ore prices banged resource-related shares lower.

The BSE SENSEX closed at 27602.01 down by 229.09 points or by 0.82 per cent, while the NSE Nifty ended at 8292.9, down by 62.75 points or by 0.75 per cent.

In the choppy trade, the BSE Sensex touched intraday high of 27796.34 and intraday low of 27539.47, while the NSE Nifty touched intraday high of 8348.3 and intraday low of 8272.4.

Meanwhile, the BSE MIDCAP closed at 10239.7, down by 61.65 points or by 0.6 per cent, while the BSE SMLCAP settled at 11236.53, down by 76.01 points or by 0.67 per cent.

On the Sectoral front, Oil & Gas and Realty stocks lost 2.48 per cent and 2.03 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 3131 shares traded, 1209 shares advanced, 1807 shares declined while 115 remained unchanged.

The top gainers of the BSE Sensex pack were Coal India Ltd. (Rs. 363.75,+1.00%), Hindalco Industries Ltd. (Rs. 155.60,+0.91%), Dr. Reddy's Laboratories Ltd. (Rs. 3430.05,+0.86%), Maruti Suzuki India Ltd. (Rs. 3338.60,+0.53%), Bharat Heavy Electricals Ltd. (Rs. 254.30,+0.47%), among others.

On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 349.35,-3.21%), Tata Steel Ltd. (Rs. 420.00,-2.85%), Bharti Airtel Ltd. (Rs. 343.70,-2.77%), Reliance Industries Ltd. (Rs. 906.30,-2.76%), Tata Power Company Ltd. (Rs. 84.75,-2.59%), were among notable losers on BSE.

Story first published: Thursday, December 11, 2014, 16:36 [IST]
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