Post Session Market Commentary

Market closed sharply lower on back of heavy selling pressure seen across the scrips especially cements stocks. As a result, BSE sensex closed at 14041.20 down by 168.00 points and Nifty was down by 36.35 points to close at 4066.10. Overall market breadth was highly negative as 885 stocks advanced and 1681 stocks declined on BSE. BSE sectoral indices closed lower. Among the BSE sectoral losers, BSE Bank index was the top loser with 160.36 points down to close at 7316.33 as SBI (4.53%) ICICI Bank (1.48%), HDFC Bank (2.30%) and HDFC (0.56%) closed in red. Followed by BSE FMGC index that declined 25.92 points to close at 1950.14 as ITC (1.48%), HLL (1.16%) and Dabur (0.99%) ended lower. BSE auto index was down by 66.51 points to close at 5584.15 as Maruti Udyog (2.75%), Bajaj Auto (0.28%) and Tata Motors (1.59%) closed lower. BSE health cares index lost 69.48 points to close at 3829.01 as Dr Reddy’s Labs (5.28%), Ranbaxy Labs (1.51%) and Cipla (0.12%) ended in red. BSE IT index was 37.14 points down to close at 5313.28 as TCS (1.02%), Infosys (1.06%), Wipro (0.12%) and Satyam (0.28%) ended in red. BSE oil & gas index was 55.27 points down to close at 6568.98 as BPCL (3.24%), HPCL (1.84%), ONGC (0.27%) and Reliance (1.08%) ended in red. BSE Mid cap and BSE small cap ended lower. BSE mid cap was down by 69.98 points to close at 6014.18 and BSE small cap was down by 63.82 points to close at 7,501.28. Top gainers at BSE Sensex: Bharti Airtel Rs687.15 (1.60%) and Hindalco Rs164.75 (0.18%). Top losers: ACC Rs 1038(6.97%), Gujarat Ambuja Rs136.8 (6.78%), Dr Reddys Labs Rs767.10 (5.28%), SBI Rs1168.75 (4.53%) and Grasim Rs2810 (2.93%).