Post-Session: Markets end on a weak note; Sensex dips over 650 points Analysis for Jun 02, 2015

Posted By: Religare
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The Indian benchmarks ended on a negative note after the RBI lowered its FY16 GDP growth estimate in the midst of sub normal monsoons concerns and crude price hike. Caution prevailed on the bourses on uncertainty regarding further policy easing. The Reserve Bank of India reduced the benchmark repo rate, or the rate at which banks borrow from the central bank, by 25 basis points to 7.25 per cent which was in-line with expectations. Further, this year's monsoon forecast has been downgraded to 88 per cent of the long-term average, Earth Sciences Minister Harsh Vardhan said, raising fears of a drought. The BSE SENSEX closed at 27188.38, down by 660.61 points or by 2.37 per cent and then NSE Nifty closed at 8236.45, down by 196.95 points or by 2.34 per cent.

The BSE MIDCAP closed at 10474.51, down by 237.92 points or by 2.22 per cent while the BSE SMLCAP closed at 11047.18, down by 232.6 points or by 2.06 per cent.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 417.95,+0.40 per cent), among others.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 266.25,-4.28 per cent), Axis Bank Ltd. (Rs. 554.15,-4.20 per cent), Hindalco Industries Ltd. (Rs. 123.30,-3.97 per cent), ITC Ltd. (Rs. 318.90,-3.95 per cent), Hero MotoCorp Ltd. (Rs. 2607.85,-3.76 per cent), among others.

The top gainers of the NSE Nifty pack were Zee Entertainment Enterprises Ltd. (Rs. 327.45,+2.25 per cent), Lupin Ltd. (Rs. 1800.75,+0.49 per cent), Bharti Airtel Ltd. (Rs. 418.10,+0.36 per cent), among others.

The top losers of the NSE Nifty pack were Axis Bank Ltd. (Rs. 553.10,-4.38 per cent), State Bank of India (Rs. 266.25,-4.30 per cent), IndusInd Bank Ltd. (Rs. 847.15,-4.05 per cent), ITC Ltd. (Rs. 318.65,-4.04 per cent), Hindalco Industries Ltd. (Rs. 123.25,-3.97 per cent), among others.

Among the thirteen sectoral indices, realty index was leading the decline and closed at 1502.52, down by 59.89 points or by 3.83 per cent led by Prestige Estates Projects Ltd. (Rs. 258.25,-8.11 per cent), Indiabulls Real Estate Ltd. (Rs. 55.10,-6.53 per cent), Godrej Industries Ltd. (Rs. 254.35,-5.08 per cent), DLF Ltd. (Rs. 113.10,-4.31 per cent), Sobha Ltd. (Rs. 415.00,-4.25 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2758, shares advanced were 808 while 1847 shares declined and 103 were unchanged.

Story first published: Tuesday, June 2, 2015, 16:12 [IST]
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