World Market Review by Nirmal Bang Securities
The benchmark indices ended lower on huge profit booking at higher levels which drifted the markets to end near the day’s low. The Sensex fell 219 points after hitting the intraday high of 15,369 to end at 14,843. The Nifty dropped 1.5 % or 70 points to close at 4,398 after hitting an intraday high of 4,557. All the sectoral indices ended in red. Sell-off was witnessed in metal, auto, cap goods and IT shares. The Nifty July future ended at 4,413 with 13 points premium and the Aug Nifty future were at 4,411. The market breadth was negative and the total traded turnover increased 31.6% to Rs 1,19,647 cr. as against Rs 90,914 cr.
Movers & Shakers
The BSE capital goods index fell 1.8 %. ABB, BHEL, Crompton and L&T were down 1.6-3%.
The auto index on the BSE dropped 1.6 %. Bajaj Auto, Maruti Suzuki, Hero Honda, Telco and M&M lost 1.4-3%.
The power stocks took a hit. Stocks like Reliance Infra, Neyveli Lignite, Reliance Power, GVK Power, Torrent Power and Power Grid Corp lost 1-3.4%.
The BSE IT index shed 1.6 %. Tech Mahindra, HCL Tech and Rolta were the biggest losers. The stocks fell over 4.7 % each.
In the Oil & gas space stocks like Cairn India, BPCL, Reliance Industries, Reliance Petroleum and IOC were down 1.5-3%
In the Sensex space HDFC was the biggest loser down 4.4 % to Rs 2,410. Hindalco, Reliance Infra and Grasim Ind were the other main losers down over 3.3 % each.
ONGC, however, was the biggest gainer in the group up 4.6 % to Rs 1,092.