The benchmark Sensex shed over 200 points in trade today despite quiet global cues at 14 hours. Technology, telecom, private banking, power, FMCG, auto (barring Tata Motors), healthcare and metal (except Tata Steel) dragged the Nifty below 5500 level.
The profit booking was pulling the markets lower as the Sensex rallied more than 400 points in previous two sessions. Market analyst, Sangeeta Purushottam said we could just remain in a range somewhere between 5000-5500-5600 levels for a few months. "We also have a time correction which begins to come in. We are going to see real recovery in the market only in the second half of the year, maybe, towards the end of the year," she said.
Heavyweight Reliance Industries tumbled 2% followed by TCS, NTPC, Infosys, ITC, L&T and ICICI Bank with loss of 2-3%. Among other largecaps, HDFC, Bharti and Wipro were down over 1%.
The 30-share BSE Sensex fell 209 points to 18,240 and the 50-share NSE Nifty dropped 62 points to 5,464. The Nifty February futures were in discount.
However, indices were witnessing some recovery as traders were buying at lower levels. Heavyweights ONGC SBI and BHEL too were quite supportive. Tata Motors, Bajaj Auto, Tata Steel, Reliance Power and Suzlon Energy were other gainers.
Tata Power, M&M, Kotak Mahindra Bank and NTPC were top losers with 2.5-3.5% loss.
In midcap space, Jain Irrigation, S Kumars Nationwide, Blue Star, Chambal Fertiliser and Rashtriya Chemical rallied 3-9% while SpiceJet, Nava Bharat Ventures, IVRCL Infrastructure, Man Infra and Money Matters slipped 4-10%.
In smallcap space, Brigade Enterprises, Manaksia and Zandu Realty shot up 15-17%. RSWM and Seshasayee Paper were up 8-10%.
However, Allied Digital plunged 20% as Income Tax department raided on company premises. Graviss Hosp, Jupiter Bioscience, Kabra Extrusion and Asian Star were down 7-13%.
The profit booking was pulling the markets lower as the Sensex rallied more than 400 points in previous two sessions. Market analyst, Sangeeta Purushottam said we could just remain in a range somewhere between 5000-5500-5600 levels for a few months. "We also have a time correction which begins to come in. We are going to see real recovery in the market only in the second half of the year, maybe, towards the end of the year," she said.
Heavyweight Reliance Industries tumbled 2% followed by TCS, NTPC, Infosys, ITC, L&T and ICICI Bank with loss of 2-3%. Among other largecaps, HDFC, Bharti and Wipro were down over 1%.
The 30-share BSE Sensex fell 209 points to 18,240 and the 50-share NSE Nifty dropped 62 points to 5,464. The Nifty February futures were in discount.
However, indices were witnessing some recovery as traders were buying at lower levels. Heavyweights ONGC SBI and BHEL too were quite supportive. Tata Motors, Bajaj Auto, Tata Steel, Reliance Power and Suzlon Energy were other gainers.
Tata Power, M&M, Kotak Mahindra Bank and NTPC were top losers with 2.5-3.5% loss.
In midcap space, Jain Irrigation, S Kumars Nationwide, Blue Star, Chambal Fertiliser and Rashtriya Chemical rallied 3-9% while SpiceJet, Nava Bharat Ventures, IVRCL Infrastructure, Man Infra and Money Matters slipped 4-10%.
In smallcap space, Brigade Enterprises, Manaksia and Zandu Realty shot up 15-17%. RSWM and Seshasayee Paper were up 8-10%.
However, Allied Digital plunged 20% as Income Tax department raided on company premises. Graviss Hosp, Jupiter Bioscience, Kabra Extrusion and Asian Star were down 7-13%.
No comments:
Post a Comment