Post Session Market

After a weak opening with a huge gap, the market continued its southbound movement through out the trading session. Market was seen under pressure right from the beginning of the session on the back of heavy selling across the board. Further the global cues were also not supportive which added to the negative sentiment that led the market to drift down further. All the key BSE indices ended in red except IT index which closed with marginal gains on the back of results of some IT majors like Wipro, Tech Mahindra etc. The benchmark index Sensex slipped by 438.41 points to close at 17,559.98, whereas Nifty closed at 5,215.30 down by 135.70 points. Overall, the market breath was weak for the day as 2184 stocks declined while 550 stocks advanced on BSE. Further, BSE Midcap and BSE Smallcap closed lower by 187.66 points and 278.43 points at 7,238.58 & 8,800.32 respectively. On the macroeconomic front, inflation came in at a 5 year low after 2002 at 3.07% for the week ended October 6th 2007 but failed to give a boost to the market.

BSE Metal stood in deep red territory as it closed lower by 549.82 points at 14,480. Pulling it down are Sea Goa (9.15%), Jindal Steel (8.83%), Sterlite (7.51%), Hindalco (6.58%) and Hindustan Zinc by (5.22%).

BSE Capital goods got hit badly as it closed at 15,429.29 with a loss of 711.20 points. Scrips lost the ground are Punj Lloyd (7.17%), AIA Engineering (6.92%), ABB Ltd (6.12%), BHEL by (5.99%) and Kir Oil Engineering by (5.80%).

The Oil and Gas index decreased by 320.45 points to close at 10,242.45 as BPCL (6.11%), RPL (4.63%), Reliance (4.14%), Gail (2.09%) closed in negative.

BSE Bankex also lost the grounds by 197.13 points to close at 8,837.55. Scrips plunged are Union Bank (10.28%), Kotak Bank (8.69%), Yes Bank (8.20%), Bank Of India (7.91%) .

BSE IT index stood alone as a gainer for the day as it ended with the marginal gain of 9.64 points to close at 4,685.91. The supporters are Moser Baer up by (3.51%), Patni computers (3.03%) and Infosys by (1.04%).