Post Session-Market bleeds on profit booking; Sensex sheds 500 pts Analysis for Jan 30, 2015

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Amidst sell-off in the financial, PSU and consumer durable stocks, the key domestic benchmarks ended lower on Friday, led by losses in index heavyweights, such as ITC, HDFC Bank, Bharti Airtel, HDFC and ICICI Bank. The investors turned cautious and booked profit in all the sectors, barring realty and power index. Among the financial stocks, Bank of Baroda plunged over 11 per cent after reporting lower-than-expected third quarter earnings that fell short of analyst expectations amid higher provisions and a rise in tax expenses. Among others, Coal India extended loss after government announced stake sale at discount price.

However, Asian stocks ended high on Friday after Wall Street closed on positive note in overnight trade as rebound in crude oil and strong corporate earnings propelled US stocks higher. China"s benchmark Shanghai Composite was down 1.59 per cent, while Hang Seng continued to remain under pressure, skidding 0.36 per cent. On the flip sides, Japan's benchmark Nikkei ended 0.39 per cent higher.

The BSE SENSEX closed at 29182.95 down by 498.82 points or by 1.68 per cent, and the NSE Nifty ended at 8808.9 down by 143.45 points or by 1.6 per cent.

In the bearish trade today, the BSE Sensex touched an intraday high of 29844.16 and intraday low of 29070.48, while the NSE Nifty touched intraday high of 8996.60 and intraday low of 8775.10 during the day"s trade so far.

Meanwhile, the BSE MIDCAP closed at 10738.59 down by 32.49 points or by 0.3 per cent, while the BSE SMLCAP ended at 11329.26 down by 49.49 points or by 0.43 per cent.

On the Sectoral front, bankex and consumer durables stocks shed 3.14 per cent and 1.85 per cent, respectively.

The Market breadth, indicating the overall health of the market, was weak. On BSE out of total shares traded 3122, shares advanced were 1301 while 1697 shares declined and 124 were unchanged..

The top losers of the BSE Sensex pack were State Bank of India (Rs. 310.00,-5.13%), ICICI Bank Ltd. (Rs. 361.15,-4.95%), Dr. Reddy's Laboratories Ltd. (Rs. 3228.00,-3.91%), Coal India Ltd. (Rs. 360.85,-3.81%), Housing Development Finance Corporation Ltd. (Rs. 1265.65,-3.35%), among others.

On the flip side, Tata Power Company Ltd. (Rs. 90.55,+2.90%), Bharat Heavy Electricals Ltd. (Rs. 291.80,+1.62%), NTPC Ltd. (Rs. 143.80,+1.37%), Wipro Ltd. (Rs. 606.30,+0.79%), Sesa Sterlite Ltd. (Rs. 201.75,+0.67%), were among top gainers on BSE.

Story first published: Friday, January 30, 2015, 17:00 [IST]
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