Post-Session: Sensex dips over 460 points on heavy selling Analysis for Jun 11, 2015

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The Indian benchmarks ended on a negative note dragged by heavy selling among heavyweight shares like Reliance Industries, financials and auto shares. On the sectoral front, all the sectoral indices are trading in red. Leading the downfall is BSE Bankex, declining 1.65 per cent followed by BSE Auto index, down by 1.61 per cent. Power, Consumer Durables and Information Technology indices are down between 1-1.3 per cent each on the BSE. Banking sector dropped heavily on account of profit-booking after the RBI allowed banks to take control of debt-laden companies by converting loans into equity. The BSE SENSEX closed at 26370.98, down by 469.52 points or by 1.75 per cent and then NSE Nifty was at 7965.35, down by 159.1 points or by 1.96 per cent.

The BSE MIDCAP was at 10088.07, down by 182.7 points or by 1.78 per cent while the BSE SMLCAP was at 10612.18, down by 167.57 points or by 1.55 per cent.

The top gainers of the BSE Sensex pack were Vedanta Ltd. (Rs. 187.70,+1.54 per cent), among others.

The top losers of the BSE Sensex pack were Tata Power Company Ltd. (Rs. 70.15,-4.88 per cent), Tata Motors Ltd. (Rs. 430.35,-3.61 per cent), Bharat Heavy Electricals Ltd. (Rs. 243.25,-3.24 per cent), Reliance Industries Ltd. (Rs. 877.20,-3.17 per cent), Axis Bank Ltd. (Rs. 546.85,-3.10 per cent), among others.

The top gainers of the NSE Nifty pack were Vedanta Ltd. (Rs. 188.00,+1.62 per cent), Mahindra & Mahindra Ltd. (Rs. 557.55,+0.22 per cent), among others.

The top losers of the NSE Nifty pack were Tata Power Company Ltd. (Rs. 70.00,-5.21 per cent), Idea Cellular Ltd. (Rs. 167.50,-4.56 per cent), Asian Paints Ltd. (Rs. 708.40,-4.16 per cent), Kotak Mahindra Bank Ltd. (Rs. 1280.90,-4.02 per cent), Bosch Ltd. (Rs. 20432.15,-3.84 per cent), among others.

Among the thirteen sectoral indices, banking index was leading the decline and closed at 19859.86, down by 482.64 points or by 2.37 per cent led by Kotak Mahindra Bank Ltd. (Rs. 1280.70,-4.07 per cent), Punjab National Bank (Rs. 132.60,-3.74 per cent), Bank of Baroda (Rs. 148.45,-3.45 per cent), YES Bank Ltd. (Rs. 804.75,-3.44 per cent), Axis Bank Ltd. (Rs. 546.85,-3.10 per cent).

The Market breadth, indicating the overall strength of the market, was weak. On BSE, out of total shares traded 2763, shares advanced were 791 while 1860 shares declined and 112 were unchanged.

Story first published: Thursday, June 11, 2015, 16:36 [IST]
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