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Sensex falls over 300 points on profit booking


Sensex falls over 300 points on profit booking
As the day progressed it became clear that the bear were very much in grip of the market. The much anticipated speeches of president Obama and Federal Reserve Chaiman Ben Bernanke came and went. There was nothing concrete to suggest that the world will not slip into recession again.

Indian stock market fell as investors booked their profit and increased their cash holdings. Sensex closed at 16,866.97 with a loss of 298.57 or down 1.74%. Meanwhile NSE Nifty went down by 93.80 points and closed at 5,059.45. down by 1.82%.


Among the sectoral indices of the BSE, Consumer Durables were the best performers as the index climbed 0.37%. Every other sector reported a fall. The worst hit was BSE Metal index that was down by 3.16%.

The sectoral indices Bankex, Oil & Gas, IT and Realty fell between 2-2.4%; while Teck, Power, Capital Goods and Health Care fell between 1-1.84%. Where as the Auto and FMCG sector fell by 0.89% and 0.16% respectively.

GTL was the most traded stock in terms of quantity on the National Stock Exchange. The stock went up 33% on the news that there will go through a debt restructuring.

Among the Nifty stocks, Hindustan Unilever gained the maximum with 2.6% increase followed by Hero Motor Corp with 2.27%.

4:21 p.m.

Sensex falls more than 250 points while Nifty slips 1.55%

The BSE Sensex slides by 259.81 hitting a new intra-day low to 16,905.73, representing a change of 1.51%. Meanwhile NSE Nifty went down by 79.90 points or 1.55% to 5,073.35 level.

All the sectors were showing negative numbers except Consumer Durables. The sector was 0.13% in the positive territory.The worst hit sector was BSE Information Technology at 2.24% at levels of 4,952.50.

On the stock front. Crisil had made announcemtnts of stock split.


And the GTL and GTL Infrstructures saw their respective share price go through the roof on announcments that their debt has been restructured.

On the other hand, a report on the leading business channel said that Ministry of Corporate Affairs has directed the Competition Commission of India to investigate ACC, Ambuja Cements and UltraTech on charges of price manipulation. This resulted in a selling spree of these three stocks.

1:50 p.m.

Indices fall on profit booking. Sensex falls 50 points

The BSE Sensex fell by 57.57 or 0.34% to 17,107 level. Meanwhile NSE Nifty was down by 21.60 points to 5,131.65. This was on account of profit booking.

Among the sectoral indices only Auto, FMCG and Consumer Durables were up in the positive territory with 0.34%, 0.53% and 0.96% gains respectively.

The worst performing sector was information technology with losses of 1.50% followed by Oil & Gas and Metal with losses of 1.07% and 1.03%.Indices fall

The most bought stock among the NSE Nifty is Hindustan Unilever followed by Hero Motor Corp, IDFC and Cairn India.

The biggest losers among the Nifty-50 stocks were Ambuja Cement, SAIL and Hindalco.

In the list of most active stocks were the names of companies such as GTL, IFCI, GTL Infrastructure and Shreeashta.

12:15 p.m.

Markets opened flat. Obama and Ben speech does not impress participants

Indian benchmark indices opened flat and then they were trading with a negative sentiment. The pep talk on job creation by President Barack Obama did not help the market gain confidence.

The BSE index, Sensex was moving around 17,158 level down by 6.79 points or 0.04%. Meanwhile NSE index S&P CNX Nifty was up by 0.65 points or 0.01% to 5,153.90.

Among frontliners, TCS, HCL Tech, HDFC, Wipro, HUL, Reliance Communications, Ranbaxy Labs, Bharti Airtel, Reliance Industries, Grasim, ONGC, Jaiprakash Associates and ITC saw gain buyers' attention in early trade.

However, for stock like Sterlite Industries, Axis Bank, SAIL, Tata Steel, JSPL, Ambuja Cements, Infosys, L&T and ICICI Bank were under pressure.

KRBL, LT Foods and Kohinoor Foods went up by 5-7% as Government approved open licences to export non-basmati rice. SKS Microfinance was locked at 5% upper circuit for sixth consecutive session.

Coal India, Crompton Greaves, Arvind, Gujarat NRE Coke and Everonn Education gained more than 1%.

TD Power Systems was up by 2.5% at Rs 281 and Nectar Life surged 4%.

10:10 a.m.

Read more about: bse sensex nifty capital market
Story first published: Friday, September 9, 2011, 10:21 [IST]
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