Mid-Session: Sensex sheds over 250 pts on profit booking Analysis for Mar 13, 2015

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Amidst choppy trade, the Indian benchmark indices extended day"s loss to nearly 1 per cent in afternoon session of the day"s trade, led by losses in rate sensitive realty, auto and banking stocks. The Dalal- Street continued to bleed under pressure as investors booked profit, led by insurance stocks after which rallied up to 6.7 per cent in trade on Friday. The Rajya Sabha on late Thursday approved the Insurance Bill which permits increase in FDI limit to 49 per cent in insurance. The law had been passed by the Lok Sabha earlier this month but ran into opposition in the Upper House, where the government lacks a majority. The top losers on the Sensex are Sun Pharma, Hindalco, Hero Moto, Maruti Suzuki and Wipro.

At 12:25 AM BSE SENSEX was at 28660.45 down by 269.96 points or by 0.93 per cent and then NSE Nifty was at 8694.25 down by 81.75 points or by 0.93 per cent.

Even, the broader market lost its ground with the BSE MIDCAP slipped to 10908.21 down by 37.07 points or by 0.34 per cent, while the BSE SMLCAP was at 11334.67 down by 50.64 points or by 0.44 per cent.

The top losers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2027.00,-2.45%), Sun Pharmaceutical Industries Ltd. (Rs. 1013.50,-2.13%), Axis Bank Ltd. (Rs. 572.75,-2.06%), Bharat Heavy Electricals Ltd. (Rs. 258.35,-1.99%), Wipro Ltd. (Rs. 642.80,-1.83%), among others.

On the flip side, Oil And Natural Gas Corporation Ltd. (Rs. 313.75,+0.53%), Bharti Airtel Ltd. (Rs. 399.50,+0.50%), Coal India Ltd. (Rs. 366.00,+0.34%), NTPC Ltd. (Rs. 160.00,+0.31%), were among top gainers.

Among the thirteen sectoral indices, BSE realty index was top loser and was trading at 1727.89 down by 22.32 points or by 1.28 per cent. Oberoi Realty Ltd. (Rs. 282.40,-3.93%), Unitech Ltd. (Rs. 20.05,-3.84%), Indiabulls Real Estate Ltd. (Rs. 75.55,-2.33%), DLF Ltd. (Rs. 146.60,-1.58%), Anant Raj Ltd. (Rs. 42.70,-1.50%), were among top losers.

Following the realty index, BSE Auto index was at 19535.54 down by 249.87 points or by 1.26 per cent. Cummins India Ltd. (Rs. 880.20,-3.31%), Apollo Tyres Ltd. (Rs. 170.75,-2.71%), Bajaj Auto Ltd. (Rs. 2027.00,-2.45%), MRF Ltd. (Rs. 40631.35,-2.34%), Eicher Motors Ltd. (Rs. 16038.95,-1.70%), were among other laggards.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2695, shares advanced were 892 while 1687 shares declined and 116 were unchanged.

Story first published: Friday, March 13, 2015, 12:48 [IST]
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