Indian market slipped sharply to close with heavy losses after giving up all its initial profits due to weak opening of the European markets that led the investors to book profits across the board. On the back of mixed cues from global market, the domestic market opened on the positive note. Further, it lost its momentum and was trading in the red. The investors did not showed their active participation during the trading session, due to rising concerns of a fuel price hike. According to prime minister, government is left with no option but to hike the price of fuel due to soaring price of crude oil in the global market. This statement is indicating imminent increase in fuel prices. Investors take cautious approach to book their position and pushed the market to close in deep red. From the sectoral front, the metal and capital goods stocks were not in favour. Realty, banking and oil & gas stocks also contributed in increasing the pressure. The market breadth was negative as 2066 stocks closed in red while 600 stocks closed in green 50 stocks remained unchanged.
The BSE Sensex closed lower by 352.39 points at 16,063.18 and NSE Nifty fell by 130.90 points to close at 4,739.60. The BSE Mid Caps and Small Cap closed lower by 176.35 points and 173.53 points at 6,584.19 and 8,959.51 respectively. The BSE Sensex touched intraday high 16,632.72of and intraday low of 15,991.21.
Losers from the BSE are NTPC Ltd (6.39%), ACC Ltd (5.23%), Hincalco (5.05%), Reliance Infra (4.90%), TCS Ltd (4.33%), BHEL (4.00%), Tata Steel (3.86%), HDFC Bank (3.78%) and Reliance Com Ltd (3.78%).
The Metal Index closed lower by 619.37 points at 16,295.26 Losers are Sesa Goa Ltd (7.94%), Sh Precoated (5.34%), Jindal Steel (5.15%), Hindalco (5.05%), Ispat Industries (4.46%), Hindustan Zinc(3.89%) and Tata Steel (3.86%).
The Capital Goods index declined by 341.89 points to close at 12,808.75. Major losers are Punj Llloyd (10.53%), Alstom Proj (5.29%), Elecon Eng (4.87%), Aiaengineer (4.65%), Kir Oil Eng (4.32%) and BHEL (4.00%).
The Realty index closed lower by 280.53 points at 6,728.13 Losers are Housing Development (6.78%), Purvankara (6.54%), Unitech Ltd (6.47%), Mahindra Life (5.93%), Sobha Dev (5.76%), and Ansal Infra (5.36%).
The Banking index fell by 260.26 points to close at 7,454.33 as Kotak Bank (6.44%), Axis Bank (5.55%), Yes Bank (4.79%), Karnataka Bank (4.65%), HDFC Bank (3.78%), and Bank of Baroda (3.76%) closed in negative territory.
The Oil & Gas index closed lower by 190.14 points at 10,206.71. Losers are Gail India (4.51%), Cairn India (4.46%), Aban Offshore (4.34%), ONGC (3.61%), Reliance Nat Resources (3.50%) and BPCL (2.47%).
The BSE Sensex closed lower by 352.39 points at 16,063.18 and NSE Nifty fell by 130.90 points to close at 4,739.60. The BSE Mid Caps and Small Cap closed lower by 176.35 points and 173.53 points at 6,584.19 and 8,959.51 respectively. The BSE Sensex touched intraday high 16,632.72of and intraday low of 15,991.21.
Losers from the BSE are NTPC Ltd (6.39%), ACC Ltd (5.23%), Hincalco (5.05%), Reliance Infra (4.90%), TCS Ltd (4.33%), BHEL (4.00%), Tata Steel (3.86%), HDFC Bank (3.78%) and Reliance Com Ltd (3.78%).
The Metal Index closed lower by 619.37 points at 16,295.26 Losers are Sesa Goa Ltd (7.94%), Sh Precoated (5.34%), Jindal Steel (5.15%), Hindalco (5.05%), Ispat Industries (4.46%), Hindustan Zinc(3.89%) and Tata Steel (3.86%).
The Capital Goods index declined by 341.89 points to close at 12,808.75. Major losers are Punj Llloyd (10.53%), Alstom Proj (5.29%), Elecon Eng (4.87%), Aiaengineer (4.65%), Kir Oil Eng (4.32%) and BHEL (4.00%).
The Realty index closed lower by 280.53 points at 6,728.13 Losers are Housing Development (6.78%), Purvankara (6.54%), Unitech Ltd (6.47%), Mahindra Life (5.93%), Sobha Dev (5.76%), and Ansal Infra (5.36%).
The Banking index fell by 260.26 points to close at 7,454.33 as Kotak Bank (6.44%), Axis Bank (5.55%), Yes Bank (4.79%), Karnataka Bank (4.65%), HDFC Bank (3.78%), and Bank of Baroda (3.76%) closed in negative territory.
The Oil & Gas index closed lower by 190.14 points at 10,206.71. Losers are Gail India (4.51%), Cairn India (4.46%), Aban Offshore (4.34%), ONGC (3.61%), Reliance Nat Resources (3.50%) and BPCL (2.47%).
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