Sensex, Nifty end at 2013 lows; Dr Reddy drops over 3%
15 February 2013
Key equity benchmarks ended trade in the red however off the day's low. The BSE Sensex closed down 61.97 points at 19435.21 after touching an intraday low of 19,381.82.
The NSE 50-share Nifty ended trade flat at 5887.40, down 0.16 percent. Both the indices are at their 2013 lows.
Dr. Reddy's shares retreated a day after reporting a larger-than-expected fall in quarterly earnings, while software service exporters fell on profit-booking.
However, Tata Motors provisionally rose 2.5 percent, recovering from an earlier fall of as much as 3.1 percent, as traders saw initial losses - sparked by a drop in quarterly earnings - as overdone given expectations for a recovery in profits.
Dr. Reddy's Laboratories provisionally fell 3.2 percent, while Infosys Ltd ended down 1.2 percent.
Markets This Week
Nifty & Sensex Down 0.3% Each, CNX Midcap Index Down 2.3%
BSE Small Cap Index Down 3.7%, Nifty Junior Down 1.6%
Bank Nifty Up 0.5%,BSE Metals Down 1.6%
BSE Cons Durables, Oil & Gas Down 1.1% Each, BSE PowerDown 3%
BSE Cap Goods Down 4.3%, BSE Realty Down 5.4%
Tata Motors Up 6.8%, Sun Pharma Up 5.5%,CIL Up 3.3%
HCL Tech & HDFC Bank Up 4.1% Each, ONGC Up 3%
UltraTech Cement Up 2.7%, Oil India Up 2.5%, HUL Up 2.2%
Siemens India & DLF Down 7.5% Each, Maruti Suzuki Down 7%
JSPL Down 6.7%, BPCL Down 5.3%, L&T & Power GridDown 4.8% Each
Ranbaxy Down 4.5%, Bajaj Auto Down 4%, ACC Down 3.6%
DB Realty Down 31.3%, United BreweriesDown 22%,TV18Down 14.4%
Uttam Galva Down 18%, Suzlon Down 12.4%, IFCI Down 11%
Opto Circuits Down 12.2%,Shasun Pharma Down 11%, Finolex Down 9%
K'taka Bank Up 9%, Polaris Up 6.5%, Jet Airways Up 4.7%
Nifty near day's low; RIL falls 2%, Cairn slips 4.6%
Nifty's struggle to stay above 5850 continued in the afternoon trade as commodities, pharma and oil and gas stocks witness widespread sell-off. The midcap index was under pressure led by selling in infra and financial stocks.
The Sensex fell 80.08 points to 19417.10, and the Nifty hit low point of the days 5864.35 after doing down 32.60 points.
Top losers on the Sensex were Dr Reddy Labs, Bajaj Auto and RIL (down 2.1%). Cairn India lost 4.6%.
As there were disappointment from earnings corner, Suzlon plunged after a dismal set of numbers. Also Tata Motors continued to be under some pressure today after a dismal set of numbers. DLF was still down nearly 3% after reported numbers look much worse than anticipated due to large one-offs.
However, sugar stocks were buzzing in trade after the food minister said that the decision on partial sugar decontrol is likely in the next 15 days. Jet Airways gained 3%.
Other major gainers on the Sensex include NTPC, Tata Power and Sun Pharma adding around 1%.
Sensex flat; DLF, Gammon India continue to lose
The market seems to be losing buyers' interest. As most of the stocks continue to shed gains, the market was finding difficult to hold firm.
The Sensex was down 56.64 points at 19440.54 while the Nifty lost 24.25 points to be at 5872.70. Top losers on the BSE are DLF (down 2.8%), Cairn India (down 2.3%) and Dr Reddy's Lab (down 1.1%).
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Gammon India was down 4.5% after posting a net loss of Rs 261cr vs a profit of 1 cr y-o-y. Net sales have seen a marginal growth to Rs1216 crore vs Rs1184 crore.
Meanwhile, Tata Powers, Ranbaxy Labs and Sun Pharma are some of the top gainers on the Sensex.
Most of the Asian markets were sluggish led by Japan which was down 1.6% on stronger yen and caution ahead of the G20 meet where yen devaluation is in focus. Rest of Asia was trading mixed. Markets like China and Taiwan remain shut for lunar new year.
Sensex opens lower on weak Asian cues; Suzlon dives 17%
Equity benchmarks opened lower on Friday following fall in Asian markets and weakness in technology and auto stocks.
The 30-share BSE benchmark fell 43.62 points to 19,453.56 while the 50-share NSE Nifty lost 18 points to 5,878.80, continuing the fall for second consecutive session.
Asian shares eased with investors turning cautious as weak euro zone growth data presaged the G20 meeting in this session. Nikkei declined 1.7 percent.
Among largecaps, commercial vehicle major Tata Motors tanked 2 percent after reporting huge loss in its domestic business during October-December quarter. Auto stocks extended losses with the car maker Maruti falling 1 percent.
Wind turbine producer Suzlon Energy plunged 17 percent in early trade after its loss in Q3 increased 4-fold compared to a year ago period.
Videocon Industries plunged 5 percent as its net profit fell quite sharply from Rs 86.4 crore in Q3FY12 to Rs 1 crore in Q3FY13. Realty major DLF fell 2.5 percent after disappointing results in the third quarter.
Kingfisher Airlines dropped 5 percent while United Breweries gained 2.5 percent as the company said they have not pledged shares of Kingfisher Airlines to lenders.
Meanwhile, Jet Airways was up 1.4 percent on hopes of a deal with Etihad getting declared this weekend.
Defensives like HDFC Bank, HDFC, ITC and HUL were supporting the market, trading with marginal gains.
Country's largest lender State Bank of India gained just 0.2 percent while its rival ICICI Bank declined 0.2 percent.