Mid-Session: Sensex loses nearly 100 points; Tata Steel up 3% Analysis for Dec 17, 2014

Posted By: Religare
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The markets continued to trade in a negative territory during the afternoon session led by loses in Metal Index followed by Consumer Durables, Healthcare and Realty indices. Tata Steel, Sesa Sterlite, Dr. Reddy's Laboratories, Oil And Natural Gas Corporation, State Bank of India was among the major losers.

Currency crisis in emerging markets could result in earnings downgrades, analysts say. Higher export realisation due to rupee depreciation may get cancelled due to forex hedges and slowdown in other markets. Tata Steel has surged by almost 3 per cent after the state government has issued orders to restart operations of four captive iron ore mines of Tata Steel following an interim order of the Odisha High Court (HC).

At 12:27 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26703.03 down by 78.41 points or by 0.29 % and then NSE Nifty was at 8044.95 down by 22.65 points or by 0.28 %.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2656, shares advanced were 840 while 1737 shares declined and 79 were unchanged.

The BSE MIDCAP was at 9698.25 down by -66.44 points or by -0.68 %, while the BSE SMLCAP was at 10501.31 down by -127.31 points or by -1.2 %.

The top gainers of the BSE Sensex pack were Tata Steel Ltd. (Rs. 400.75,+2.91%), Sesa Sterlite Ltd. (Rs. 197.95,+2.01%), Dr. Reddy's Laboratories Ltd. (Rs. 3192.00,+1.59%), Oil And Natural Gas Corporation Ltd. (Rs. 340.25,+1.42%), State Bank of India (Rs. 299.90,+1.35%), among others.

The top losers of the BSE Sensex pack were Cipla Ltd. (Rs. 603.35,-3.22%), ITC Ltd. (Rs. 371.70,-2.31%), Tata Power Company Ltd. (Rs. 78.25,-2.25%), Hero MotoCorp Ltd. (Rs. 3079.55,-1.74%), Bharti Airtel Ltd. (Rs. 344.35,-1.64%), among others.

In BSE, BSE Metal index was at 10212.31 up by 93.18 points or by 0.92%. Tata Steel Ltd. (Rs. 400.75,+2.91%), NMDC Ltd. (Rs. 137.95,+2.60%), Sesa Sterlite Ltd. (Rs. 197.95,+2.01%), Hindalco Industries Ltd. (Rs. 145.50,+0.55%), Coal India Ltd. (Rs. 367.70,+0.38%),.

In BSE, BSE HCS index was at 14256.45 down by -223.11 points or by -1.54%. Wockhardt Ltd. (Rs. 920.70,-5.55%), Aurobindo Pharma Ltd. (Rs. 1045.10,-4.71%), Cipla Ltd. (Rs. 603.35,-3.22%), Divi's Laboratories Ltd. (Rs. 1639.60,-2.91%), Ranbaxy Laboratories Ltd. (Rs. 621.15,-2.20%),.

Story first published: Wednesday, December 17, 2014, 13:12 [IST]
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