Post Session- Gloom grips Dalal Street, Sensex tanks over 500 pts Analysis for Dec 16, 2014

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The key domestic benchmarks plunged on Tuesday as the Sensex shed 538 points led by losses in metal and realty stocks tracking a rout in fellow Asian markets as weak China data signaled concerns over the global economy while oil prices extended a sell-off below USD 60 per barrel. Adding to the woes, the rupee slid to a 13-month low against the US dollar after India"s trade deficit hit an 18-month high of USD 16.8 billion in November 2014 amid a surge in gold imports. Hang Seng tumbled after HSBC said that its China manufacturing gauge fell to 49.5 in December from a no-change mark of 50 in the previous month, signaling contraction in manufacturing over the previous month. Japan"s Nikkei 225 plunged as a stronger yen dimmed the appeal of exporter stocks.

The BSE SENSEX closed at 26,781.44, down by 538.12 points or by 1.97 per cent, and the NSE Nifty ended at 8,067.6, down by 152 points or by 1.85 per cent.

The BSE Sensex touched intraday high of 27,199.37 and intraday low of 26,736.23. The NSE Nifty touched intraday high of 8,189.35 and intraday low of 8,052.6.

Meanwhile, the BSE MIDCAP closed at 9,764.69, down by 297.89 points or by 2.96 per cent, while the BSE SMLCAP ended at 10,628.62, down by 369.29 points or by 3.36 per cent.

On the Sectoral front, Metal and Realty shed 4.17 per cent and 3.8 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3117, shares advanced were 612 while 2407 shares declined and 98 were unchanged.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 194.05,-7.77%), Dr. Reddy's Laboratories Ltd. (Rs. 3142.05,-6.32%), Hindalco Industries Ltd. (Rs. 144.70,-5.67%), State Bank of India (Rs. 295.90,-4.66%), Tata Power Company Ltd. (Rs. 80.05,-4.59%), among others.

Story first published: Tuesday, December 16, 2014, 17:12 [IST]
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