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Sensex falls below 16k on Geece default worry


Sensex falls below 16k on Geece default worry
The BSE Sensex closed at 15,865 levels after a fall of 286 points, it was down by 1.77%. Meanwhile, NSE was treading at 4,772.15 with loss of 77.35 points or down by 1.60%.

The stock that gained the most among the large cap was Maruti Suzuki as it gained 2.57%. Meanwhile, Larsen & Toubro also gained, it was up by 2.11%. Wipro has increased by 1.97%.


Tata Motors was down by 4.85%. The other two stocks that fel between 4-5% were ICICI Bank and Mahindra & Mahindra. SBI fell more than 3% as the bank was downgraded by Moody's. Then Jindal steel too fell over 3%.

Prakash Constrowell was the most traded stock on national stock exchange, as it made its debut.

European markets like France's CAC, Germany's DAX and Britain's FTSE fell by 2-3% on rising fears of Greece default. Yesterday's meeting did not yild any solution.

Nearly six hours long meeting of European Union finance ministers at Luxemburg did not produce any concrete steps towards solving debt crisis. Ministers stated that Greece could wait until mid-November - until it receives next installment of aid.

4:15 p.m.

On European pressure sensex falls 347 points

The European markets started with the red ink, this hit the bearish mode at the BSe sensex and NSE nifty too, and then Indian stock market went below heir phychological comfort level.

BSE sensex was at a loss of 347 points at 15,803, registering a fall of 2.15%. Where as Nifty was at 4,755 at a loss of 94.75 points or 1.95%.

The biggest gainer among the stocks was Maruti Suzuki followed by Relaince power and Larsen & Toubro as all gained over 1%. On the losers side on Nifty was Tata Motors with loss of 5.01% followed by ICICI Bank, Jindal Steel, SBI and M&M as all of these stocks by obetween 4-5%.


The 4% fall in SBI was after the announcement that the bank's standalone rating will be made from D+ from C- by Moody's.

Heavyweight Reliance Industries was playing a key role in today's volatility; the stock slipped 1.5% again after showing green tick.

Infosys, Bharti Airtel, ICICI Bank, HDFC Bank and Axis Bank were down 1.6-2.4%. Among others, Tata Motors, JSPL and M&M plunged 3-5%.

2:15 p.m.

Markets on the positive side. Sensex gains 42 points

The BSE Sensex reached its new high for the day at 16,193 with gains of 42.18, reflecting gains of 0.26%. Meanwhile on the NSE, Nifty too has started making gains of 19.50 points or 0.40% to 4,869.

On the sectoral front at BSE, only Oil & gas along with Auto were in the negative territory. There were three sectoral indices that had gained more than 1%, they were Capital Goods, Consumer Durables and Realty.

Anil Dhirubhai Ambani Group (ADAG) companies too were witnessing buying interest from the investors.

However, there was profit booking in Infosys, Reliance Industries, Bharti, TCS, HDFC and HDFC Bank; this limited the upside.

From the capital goods space, L&T and BHEL rallied 1.5-2%. Jaipraksh Associates shot up 3%.

Maruti Suzuki gained 2% as workers’ problem at its Manesar plant has been solved. From the metal space, Tata Steel, Hindalco and Sterlite Industries were up 1% each.

Major largecaps like ONGC and NTPC were marginally in the green.

However, heavyweights Reliance Industries, TCS, Bharti Airtel and Infosys fell 0.6-1%. Wipro, HDFC and HDFC Bank lost 0.3-0.5%.

Tata Motors was the biggest loser among largecaps - tumbled 3%.

About 766 shares advanced as against 483 shares declined on National Stock Exchange.

12:15 p.m.

Markets rangebound. Nifty up by 0.12%

Stock market in India opened in the low. NSE benchmark Nifty opened 0.54% low but after staggering for some time, it gained and moved upward in the green zone. The NSe was at 4,855.45 level up by 5.95 point or 0.12%. Meanwhile, BSE bechmark, Sensex, also followed the same pattern movement. Sensex was up by 3.98 points or up by 0.02% to 16,155.

Among 50 stocks that make the Nifty, JP associates was up by 2.99% followed by Larsen & Toubro that gained 2.30%.

Maruti Suzuki, Tata Steel and Ranbaxy were supporting the markets.

The newly listed Prakash Constrowell went up by 6% to Rs 146 a share as against issue price of Rs 138.

On the NSE two shares went down declined for every one share that went up.

Sintex Industries, HDIL, PFC and REC were down 1-2%.

However, Titan Industries gained 1% as there reports that company may increase product prices.

10:30 a.m.

Read more about: bse sensex nse nifty capital market
Story first published: Tuesday, October 4, 2011, 10:39 [IST]
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