Intense selling across the board dragged the key benchmark indices
lower at the fag end of the session. The BSE 30-share Sensex
provisionally ended 151.58 points down. The market had earlier
recovered to some extent on bottom fishing. All the sectoral
indices on BSE, barring BSE Auto index, were negative. India's
third largest software exporter by sales Wipro was the top lower
from the Sensex pack.
European markets, which opened after Indian market, rose led by
banks and insurers and tracking gains in US index futures on hopes
for an emergency meeting to hammer out details of a rescue plan for
the US financial sector. Key indices in UK, France and Germany were
up 0.09% to 0.87%.
Asian markets, which opened before Indian markets, were mixed. Key
benchmark indices in Japan, Singapore, Hong Kong and Taiwan were
down by between 0.15% to 1.35%. Key benchmark indices in South
Korea, and China were up by between 0.38% to 3.64%.
As per provisional closing, the BSE 30-share Sensex was down 151.58
points or 1.11% to 13,540.94. The index shed 261.84 points at the
day's low of 13,430.68, hit in mid-afternoon trade. The Sensex rose
24.36 points at day's high of 13,879.06, at the onset of trading
session.
The S&P CNX Nifty was down 53.70 points or 1.29% to 4107.55.
The BSE Mid-Cap index was down 0.76% at 5,087.79 and the BSE
Small-Cap index was down 0.89% at 6,047.49.
The market breadth was weak on BSE with 905 shares advancing as
compared to 1679 that declined. 81 shares remained unchanged.
BSE clocked a turnover of Rs 5054 crore as against Rs 4,319.28
crore on 24 September 2008.
India's third largest software exporter by sales Wipro slumped
5.19% at Rs 352.
Hindalco Industries (down 4.18% at Rs 104.30), Ranbaxy Laboratories
(down 3.94% at Rs 298.25), Grasim Industries (down 3.86% at Rs
1860.50), ACC (down 3.15% at Rs 608), DLF (down 3.27% at Rs
387.15), were the top losers from the Sensex pack.
HDFC Bank (up 0.87% at Rs 1293), ONGC (up 0.61% at Rs 1293), NTPC
(up 0.22% at Rs 178.85), Jaiprakash Associates (up 0.32% at Rs
123.75), and Larsen & Toubro (up 0.34% at Rs 2560), were the top
gainers from the Sensex pack.
India's largest private sector firm by market capitalisation and
oil refiner Reliance Industries (RIL) declined 1.35% at Rs 2020.
India's second largest software exporter Infosys Technologies fell
1.62% at Rs 1500.
India's largest private sector bank by market capitalisation ICICI
Bank down 0.36% at Rs 597.80.
Steel pipe maker Man Industries spurted 8.65% at Rs 60.90 after the
company said it received orders worth Rs 1100 crore in the current
quarter for spirally-welded pipes. The company's total order book
now stands at Rs 1500 crore, with exports accounting for over 26%.
Cigarette maker Golden Tobacco surged 8.89% at Rs 139.05 after the
company said on Wednesday, 24 September 2008 evening its board had
approved spinning off the tobacco and real estate businesses into
two separate companies.
Wind turbine maker Suzlon Energy dipped 7.42% at Rs 181.50 after
the company said its board would consider a rights issue to raise
up to Rs 1800 crore on 27 September 2008. According to reports, the
investors were worried the issue would lead to equity dilution.
The September 2008 derivatives contracts expired today. By
Wednesday, 24 September 2008, roll over in Nifty stood at about 44%
from September 2008 contracts to October 2008 contracts.
The Dow and the S&P 500 edged lower on Wednesday, 24 September
2008, as uncertainty about when the US Congress might approve a
proposed $700 billion financial sector bailout plan offset Warren
Buffett's $5 billion bet on Goldman Sachs. The Nasdaq edged up,
boosted by tech shares that rose on hopes an eventual bailout would
increase tech spending. Dow shed 29 points or 0.27% to 10,825.17.
The Nasdaq Composite index edged up 2.35 points or 0.11% at
2,155.68.
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