Indian Stock Markets Review By Nirmal Bang
The benchmark indices ended weak for the second day on the back of weak European cues. Selling was seen in capital goods, power, oil & gas exploration, realty, metal, pharma and banking shares. The key benchmark index ended 115 points lower at 15,551 after seeing an intra-day high/low of 15,923-15,475. The Nifty shed 37 points to finish at 4,625. The BSE midcap and smallcap indices were down 1.5% each. The market breadth was weak. The Sept nifty future ended with 10 point discount. Movers & Shakers
The BSE realty index fell 3 % led by decline in Peninsula Land, Ansal API, IBREL and Sobha Developers lost over 5 % each. DLF down 2.3% and HDIL were down 3.4%.
The metal index on the BSE dropped 1.9 %. TataSteel was down 2.4%, Sterlite down 3%, Steel Authority down 3.5% and JSW Steel was down 3.5%.
Capital goods stocks also fell today. Crompton Greaves and GMR Infra shed over 3.4 % each. LT fell 1.4% and Bhel was down 2.2%.
Auto stocks, however, rose today on the back of positive sales numbers posted by a few auto companies. Maruti Suzuki rose 7.6 % to Rs 1,545. Tata Motors ended 5.8 % higher at Rs 517. Hero Honda Motors gained 1.5 % to end at 1,534.
NHPC, India's largest hydro power generator, disappointed the street on its debut. It started at Rs 39 on the BSE and traded around Rs 37 for majority of the session and closed at 36.70.
Sugar stocks like Bajaj Hind, Balrampur Chinian and Renuka were up 0.8% to 2.5% each. In the Sensex pack, ACC led the losers. The stock fell 3.6 % to Rs 779. Sterlite Ind, HDFC and BHEL were the other main losers, down over 2.3 % each.
Maruti and Tata Motors, however, were the biggest gainers in the group.
