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Markets reduce losses. Sensex down by 110 points


Markets reduce losses. Sensex down by 110 points
The stock markets touched the same level from where they had started but then it fell a bit before closing. Nifty closed at 4,835.40 down by 32.35 or 0.66%. Meanwhile sensex closed down by 110.96 or 0.69% at 16,051. The rebound in global market helped the Indian benchmark index to reduce its losses.

Bharti, Infosys, TCS, ICICI Bank, SBI and Wipro led players in this recovery.


Meanwhile, the European markets: CAC of France and the German DAX jumped 2% each. Britain's FTSE went up by 0.5%. Even the Dow Jones futures gained 0.6%.

Jaiprakash Associates was the biggest gainer - jumped 3%. Tata group stocks too got back into green - Tata Steel, Tata Power and Tata Steel rose 0.5% each.

However, largecaps like L&T, ITC and NTPC went down 1.3-1.7%. ONGC and Reliance Industries fell 0.7% each. Sterlite Industries, Hero Motocorp, Cairn, Hindalco, Bajaj Auto, GAIL and Sesa Goa tumbled 2-3.5%. But the broader indices underperformed benchmarks - the BSE Midcap and Smallcap indices fell 1.2% each.

Among the sectoral indices, TECk and IT indices were the only ones in positives, with gains of 0.50% and 0.42% respectively. The biggest loser was Consumer Durables with negative returns of 4.95% followed by 2.87%. Rest of the sectoral indices fell by 1% or so.

4:00 p.m.

Sensex recovers over 200 points from days low on positive European market

Equity markets reduced their losses after there was recovery in European market.

The 50 stock Nifty was down to 4,835.80 by 31.95 or 0.66%. Then Sensex was on the negative side, down by 127.43 points or 0.79%. It recovered more than 200 points from day's low.

Meanwhile, European markets like France's CAC and Britain's FTSE were trading with a 0.5% cut while Britain's DAX gained 1%. A few Asian markets too cut their losses in late trade; Hang Seng pared it losses to 1.65% from near 4% earlier. Straits Times was trading 1.7% lower (from 2.7% earlier) and Shanghai, Nikkei, Kospi and Taiwan closed 1.6%-2.6% lower. The Dow Jones and Nasdaq futures too trimmed their losses to 0.4% from 1.5%.


Among the Nifty, JP Associates and Ranbaxy gained the highest with 2.45% and 2.30% respectively. Losers among the nifty stocks were led by Hindalco, Sterlite Industries and Cairn, each of these stock had fallen by more than 4%.

The newly listed stock PGEL was the most traded on the NSE and the stock gained 40.50% on its first day.

Approximately six shares declined for every advancing share. The broader indices underperformed the benchmarks - the BSE Midcap and Smallcap indices fell 1.8% each.

2:15 p.m.

Sensex fall approx 300 points on Global worry

The Sensex fell by over 300 points and went below 16k on global economic worries. It then recoverd some of its losses and currently it is trading at 15,876 points, down by 285 points or 1.77%. Similarly, the nifty too fell fast and then recovered to some extent. Currently t is at 4,774.05 points down by 93.70 points or 1.92%.

The only gainers among the 50 comprising of Nifty were Bharti Airtel and Nifty with gains of 0.41% and 0.25% respectively.

Stocks that fell the most were Hindalco, Sterlite and Cairn as each stock fell more than 6%. Sesa Goa fell by 5.05%.

On the sectoral front, all the indices were falling. BSE TECk index fell by 0.77%. The worst hit was Consumer Durable, down by 4.83%.

Approximately seven shares fell in response to every share rising on NSE.

In the midcap space, KGN Industries, EIH, Hathway Cable, Kirloskar Oil and Birla Corp gained 2-5% while Shree Global, HOEC, Financial Tech, DB Realty and Petronet LNG fell 5-10%.

Smallcap stocks like Modern India, Entegra, Emami Paper, OM Metals Infra and Jayaswal Neco shot up 9-18%. However, Arshiya Intl, Pratibha Industries, Money Matters, Tuni Textile and ARSS Infra slipped 6-9%.

12:20 p.m.

Stocks markets under negative sentiment. Sensex down by 132 points

The benchmark index of the Bombay Stock Exchange, Sensex fell by 0.82% or 132 points to 16,029.13. Meanwhile, the National Stock Exchange index, Nifty was down to 4,825.40, it fell by 42.35 or 0.87%.

The benchmarks fell on weak Asian cues and pressing European debt problems. Further fall in commodity prices along with weak rupee affected the sentiments.

Metal stocks like Sesa Goa, Hindalco, Sterlite, JSPL and Tata Steel declined as commodity prices went south in international markets. However, IT continued to be the top performer on falling rupee.

Wipro, Dr reddy, TCS, Maruti were witnessing buying interest among the Nifty stocks.

Among the top losers of the Nifty were Sterlite Industries, Hindalco, Sesa Goa, Cairn and Bajaj Auto.

The Indian rupee depreciated to 49.60 per dollar, down 0.34% from previous day's closing value.

10.15 a.m.

Read more about: bse sensex nse nifty capital market
Story first published: Monday, September 26, 2011, 10:31 [IST]
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