Post-Session: Sensex pares early gains; ends over 200 points lower Analysis for Mar 04, 2015

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The Indian benchmarks pared earlier gains and closed on negative note with the BSE Sensex falling over 200 points. BSE metal index was the top sectoral loser down 2.42 per cent followed by banking among others. Markets had scaled fresh-record highs on post-budget rate cut by Reserve Bank of India (RBI) which led to Sensex breaching the 30,000 mark for the first time. Shares of SPARC rose after it announced that the U.S. Food and Drug Administration (FDA) have approved its new drug application (NDA) for ELEPSIA XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg). The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. The BSE SENSEX closed at 29380.73 down by -213 points or by -0.72 per cent and then NSE Nifty ended at 8922.65 down by -73.6 points or by -0.82 per cent.

The BSE MIDCAP closed at 10964.27 down by -117.56 points or by -1.06 per cent. while the BSE SMLCAP ended at 11381.65 down by -147.24 points or by -1.28 per cent

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 1004.80,+6.62 per cent), ITC Ltd. (Rs. 344.40,+0.89 per cent), Bharti Airtel Ltd. (Rs. 351.15,+0.63 per cent), Bajaj Auto Ltd. (Rs. 2122.10,+0.28 per cent), Housing Development Finance Corporation Ltd. (Rs. 1365.20,+0.08 per cent), among others.

The top losers of the BSE Sensex pack were Sesa Sterlite Ltd. (Rs. 212.40,-4.11 per cent), Hindalco Industries Ltd. (Rs. 153.05,-3.32 per cent), Tata Power Company Ltd. (Rs. 84.35,-3.21 per cent), Axis Bank Ltd. (Rs. 612.65,-3.19 per cent), State Bank of India (Rs. 294.20,-2.82 per cent), among others.

The top gainers of the NSE Nifty pack were Sun Pharmaceutical Industries Ltd. (Rs. 1006.30,+6.71 per cent), DLF Ltd. (Rs. 154.10,+1.85 per cent), ITC Ltd. (Rs. 344.25,+0.79 per cent), Bharti Airtel Ltd. (Rs. 351.25,+0.57 per cent), HCL Technologies Ltd. (Rs. 2036.00,+0.24 per cent), among others.

The top losers of the NSE Nifty pack were Sesa Sterlite Ltd. (Rs. 212.40,-4.35 per cent), NMDC Ltd. (Rs. 132.60,-4.12 per cent), Bank of Baroda (Rs. 180.40,-3.63 per cent), Hindalco Industries Ltd. (Rs. 153.10,-3.53 per cent), Cairn India Ltd. (Rs. 244.15,-3.52 per cent), among others.

Among the thirteen sectoral indices, metal index was leading the decline and closed at 10239.89 down by -254.48 points or by -2.42 per cent. Sesa Sterlite Ltd. (Rs. 212.40,-4.11 per cent), NMDC Ltd. (Rs. 132.70,-4.01 per cent), Hindalco Industries Ltd. (Rs. 153.05,-3.32 per cent), Steel Authority of India (SAIL) Ltd. (Rs. 67.90,-2.51 per cent), Hindustan Zinc Ltd. (Rs. 175.25,-2.12 per cent)

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3159 , shares advanced were 1075 while 1952 shares declined and 132 were unchanged.

Story first published: Wednesday, March 4, 2015, 16:48 [IST]
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