Sensex Down 600pts; ICICI Bank Slumps 13% - Oct 11, 2008

The Sensex opened with a huge negative gap of 696 points at 10,632 on the back of negative cues from the global markets amid liquidity crunch as fears of a deeper US recession worries investors worldwide.

The index soon tumbled to a low of 10,240 - down 1,088 points (9.6%) - very close to its 10% lower circuit. A sudden bout of buying following a 150bps CRR cut by the RBI saw the index recover and touch a high of 10,904.

The index, however, has come down from the its higher levels and is now down 594 points at 10,734.

ICICI Bank has slumped almost 13% to Rs 395, and Reliance Communications has plunged 10.7% to Rs 269.

Tata Steel and Jaiprakash Associates have cracked nearly 9% each at Rs 308 and Rs 93, respectively. HDFC has crashed 8.5% to Rs 1,727.

BHEL and Satyam have tumbled nearly 8% each to Rs 1,352 and Rs 244, respectively.

Reliance Infrastructure, Wipro, Reliance, Bharti Airtel and TCS have shed 7% each at Rs 593, Rs 263, Rs 1,535, Rs 682 and Rs 509, respectively.

Larsen & Toubro, Infosys and DLF have slipped around 6% each to Rs 907, Rs 1,179 and Rs 291, respectively.

Hindustan Unilever has declined 5% to Rs 226.

Sensex Down Over 100pts In Opening Trades - Sep 13, 2008

The Sensex is now down 216 points at 14,446.

DLF has slumped 3.6% to Rs 484.

Reliance has plunged 3% to Rs 2,022. Tata Power has shed 2.8% at Rs 1,020, and ONGC has dropped 2.4% to Rs 1,051.

Reliance Infrastructure and Bharti Airtel have slipped around 2% each to Rs 1,012 and Rs 796, respectively.

Jaiprakash Associates, Hindustan Unilever, BHEL, Mahindra & Mahindra and ICICI Bank are down around 1.5% each.

Tata Motors and Ranbaxy have advanced 1% each to Rs 423 and Rs 463, respectively.

Sensex Down 356pts; Infosys Drops 4% - Sep 6, 2008

The Sensex is now down 356 points at 14,543.

All index stocks are in negative zone.

Infosys has plunged 3.8% to Rs 1,722. Jaiprakash Associates and HDFC have tumbled around 3.5% each to Rs 171 and Rs 2,341, respectively.

Sterlite, Reliance, ICICI Bank and Wipro have dropped around 4% each to Rs 594, Rs 2,087, Rs 697 and Rs 435, respectively.

Maruti and HDFC Bank have slipped 2.7% each to Rs 665 and Rs 1,269, respectively.

Satyam and Grasim have shed 2.5% each at Rs 422 and Rs 1,970, respectively.

Bharti Airtel, Tata Motors, DLF, Reliance Infrastructure and SBI have declined over 2% each

Mkts off to a cautious start; Ambuja Cements up nearly 5% - June 18, 2008

Trading got off to a cautious start on the major Indian bourses this morning amid mixed global cues. Select pharma, power, realty and metal stocks have edged higher in opening trade. IT, bank, auto and oil stocks remain subdued.

The Sensex, which touched a high of 15,789.62 after opening with a positive gap of nearly 50 points at 15,744.21, drifted down to 15,646.45 due to strong resistance at higher levels.

At present, the Sensex is down with a marginal loss of 18.19 points or 0.12% at 15,678.71. The Nifty is down with a small loss of 1.50 points at 4651.50. Earlier, after opening at 4652.80, it had progressed to 4679.75.

Ambuja Cements, the top gainer in the Sensex at present, is up by around 4.65% at Rs 90.50. ACC, HDFC, Ranbaxy Laboratories and Reliance Communication are the other prominent gainers. DLF, Grasim Industries, Mahindra & Mahindra, Hindalco, NTPC, Tata Steel and Tata Motors have also posted sharp gains.

Zee Entertainment has risen 4.2% to Rs 244. Suzlon Energy has gained over 3% at Rs 251.60. Tata Communications has moved up by 1.2% to Rs 439.

Hero Honda, Sun Pharmaceuticals, Siemens, HCL Technologies, Cairn India, Punjab National Bank, GAIL India and Tata Power have declined sharply.

Tata Consultancy Services, Wipro, ONGC, Maruti Suzuki, Infosys Technologies, ICICI Bank, Hindustan Unilever and ITC are among the major losers.

Indices Subdued As Investors Turn Cautious

MUMBAI: Trade turned choppy as wary investors chose to stay away from the market. Realty and metal shares remained weak but information technology counters provided the much needed support.

The positive close on Wall Street, and with most Asian markets closed for the Chinese New Year, there is no additional pressure on the equities, at least from global shores.

“Volatility can be the order of the day; an intra-day upside could come in below the 5,113 level while significant support at lower levels (5005) – would limit the downside. The outlook has turned neutral again while resistance comes in at the 5550+ level and support comes in at 4,820,” said Asit C. Mehta in a note.

At 11:29 am, Bombay Stock Exchange’s Sensex was at 17,507.55, down 0.11 per cent or 19.38 points, slipping from a high of 17,688.73 in trade so far. The low was 17,373.69.

National Stock Exchange’s Nifty was down 0.43 per cent or 21.85 points at 5111.40. The index swung between a range of 5173.85 and 5078.25 so far.

Secondline shares took a sharp knock. BSE Midcap and Smallcap Index were down 1.79 per cent and 2.27 per cent, respectively.

Declines in DLF (down 4.24 %), L&T (3.04%), Bajaj Auto (2.47%), Tata Steel (1.86%), HDFC (1.54%), ICICI Bank (1.47%) kept the indices subdued.

Biggest large cap gainers were Infosys (up 4.47%), TCS (3.31%), Satyam Computers (3.26%), Wipro (1.79%), Ranbaxy (1.43%) and Hindustan Unilever (1.08%).

Market breadth on BSE showed 2,005 declines against 433 advances.

Sensex Down 83 Points In Early Trade

MUMBAI: The Bombay Stock Exchange benchmark Sensex fell 83 points in early trade on fresh selling by funds and retail investors, in line with weak global markets.

The 30-share index, which lost 524 points yesterday, shed another 82.61 points to 18,056.88 in the first five minutes of trade as market participants sold shares mainly in bluechips like ONGC, Reliance Industries and Satyam.

Similarly, the wide-based National Stock Exchange fell by 27.35 points to 5,295.20.

Stocks Open Sharply Lower; Sensex Down 643 pts

MUMBAI: Equities opened sharply lower on Wednesday extending a global sell-off as fears of the US economy heading into recession heightened late Tuesday.

At 10 am, the Bombay Stock Exchange’s Sensex was down 643 points or 3.44 per cent at 18,020.30

National Stock Exchange’s Nifty was down 213 points or 3.88 per cent at 5271.20.

ABB (down 5.03%), Unitech (4.42%), Dr Reddy’s Laboratories (4%), NTPC (3.87%), Ranbaxy Laboratories (3.67%) and Tata Power (3.06%) were under pressure.

“Though liquidity is abundant and open interest in derivatives very low, the issue is a weakening US economy. Our market cannot rise in an environment where the US continues to weaken. The Sensex had recouped 60 per cent of the 5875 loss it had seen from the all time high. A lower top has been made at 18895. The first support is at 18312 and is unlikely to hold. The next logical support is at 17534, but we are unlikely to travel there today. The nascent recovery is likely to be nipped in the bud,” said Anagram Stock Broking in a note.

US stocks plunged Tuesday after a key service sector gauge contracted in January possibly signaling that the US economy is already in recession. The ISM Survey for the services sector showed the reading at 41.9 as against expectations of 53. A reading below 50 indicates contraction of economy.

Dow Jones Industrial Average dropped 2.93 per cent, the Standard & Poor 500 Index lost 3.2 per cent, while the Nasdaq Composite Index fell 3.08 per cent.

Elsewhere in Asia, the Nikkei 225 was down 4.05 per cent, the Hang Seng down 5.85 per cent and the Straits Times down 3.66 per cent.

Markets Remain Weak, Sensex Down 255 Pts In Early Trade

Stocks continued their downslide with the Bombay Stock Exchange benchmark Sensex on Friday falling by 255 points during early trade following weak global cues amid strong indications that the US economy is heading towards recession.

Asian indices the Hang Seng, Shanghai Composite, Nikkei, Taiwan and Strait Times were down in a range of 0.18 to 2.0 per cent during morning trade.

The Dow Jones Industrial Average yesterday tumbled by 306.95 points and the Nasdaq Composite Index by 47.69 points.

The BSE barometer opened weak at 19,579.61 and later moved downwards to 19,445.71 at 10.30 am, a loss of 255.11 points from previous close of 19,700.82.

Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) fell further by 76.60 points to 5,836.30 at 10.30 am from previous close of 5,913.20.

Foreign Institutional Investors (FIIs), which have suffered heavy US mortgage-related losses, were believed to be booking profits in Indian bourses, market players said.

News that Prime Minister's Economic Advisory Council has scaled down its growth projection for 2007-08 to 8.9 per cent from 9 per cent earlier on account of slow expansion in manufacturing and energy generation also had adverse impact on the market sentiment.

FIIs were net sellers to the tune of Rs 2,267.40 crore on January 16, according provisional data.