For Quick Alerts
For Daily Alerts

Post Session: Dalal Street bleeds in red on global market sell-off; metal stocks lose shine Analysis for Sep 22, 2015

By Religare

The Indian equities fell sharply on Tuesday, tracking weak cues from the European peers, coupled with caution ahead of the expiry of September derivative contracts on Thursday. The European market opened lower on concerns about Volkswagen, which fell nearly 20 per cent today after slumping nearly 19 per cent in the previous session. The under tone remained cautious ahead of the expiry of monthly derivatives contracts later this week.

The 30-share BSE SENSEX closed at 25651.84, down by 541.14 points or by 2.07 per cent and the NSE Nifty ended 165.1 points lower at 7812.


In the choppy trade, the BSE Sensex touched intraday high of 26339.1 and intraday low of 25571.34, while the NSE Nifty touched high and low of 8021.6 and 7787.75, respectively.

Early today, the Indian equities belled the day in green, tracking a firm trend in markets across Asia and a bullish finish at Wall Street overnight after top US Federal Reserve officials" reassurance over the health of the world"s biggest economy bolstered risk taking appetite. The rupee also recovered, in line with equity market, against the dollar in early trade today on fresh selling of the US currency by exporters.

In line with the benchmark indices, the broader market also ended lower, with the BSE MIDCAP settling 168.25 points or by 1.57 per cent lower at 10524.54, while the BSE SMLCAP closed at 10802.87, down by 132.43 points or by 1.21 per cent.

On the sectoral front, all the indices ended in red, while metal and capital goods stocks emerged as top losers, shedding 4.24 per cent and 3.1 per cent, respectively.

Leading the decline on BSE Sensex pack were Vedanta Ltd. (Rs. 92.35,-6.29%), Hindalco Industries Ltd. (Rs. 73.15,-6.22%), Coal India Ltd. (Rs. 323.85,-5.40%), Tata Motors Ltd. (Rs. 315.65,-4.81%), NTPC Ltd. (Rs. 120.80,-4.58%), among others.

Meanwhile, Mahindra & Mahindra Ltd. (Rs. 1186.80, +0.20%), Sun Pharmaceutical Industries Ltd. (Rs. 900.95,+0.13%), Infosys Ltd. (Rs. 1105.50,+0.08%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2755, shares advanced were 954 while 1694 shares declined and 107 were unchanged.

On the global front, the Asian equities mostly ended higher after a rebound in US equities, with Shanghai Composite surging nearly 1 per cent, marking the third straight day of gains amid optimism over President Xi Jinping"s state visit to the US. Hang Seng advanced after a China leading index rose at a faster pace in August, up 1 per cent from July when it climbed 0.9 per cent, easing worries over a slowdown in the world"s second biggest economy. Japanese markets remained shut due to a holiday.

Story first published: Tuesday, September 22, 2015, 16:48 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more