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Sensex ends down 208pts; SBI, Reliance drag

This article was posted on Nov 26, 2008 and is filed under Market News

The Sensex opened with significant positive gap of 258 points at 9,161 on the back of positive cues from the US markets. The index soon touched a high of 9,183, and thereafter pared gains as the day progressed.

Significant weakness in select energy, realty and banking stocks dragged the index into the negative zone. The index tumbled to a low of 8,649 – down 534 points from the day’s high. The Sensex finally ended with a loss of 208 points at 8,696.

The BSE Oil & Gas index plunged nearly 4% to 5,409. The Capital Goods and Realty indices shed 2.5% each at 6387 and 1543, respectively. The Bankex dropped 2% to 4365.

The market breadth was fairly negative – out of 2,523 stocks traded, 1,446 declined, 990 have advanced and the rest were unchanged.


Mahindra & Mahindra tumbled 7.6% to Rs 277. SBI and Reliance slumped 6.5% each to Rs 1,072 and Rs 1,072, respectively.

Reliance Communications plunged 5% to Rs 196. Ranbaxy and Sterlite shed 4.7% each at Rs 204 and Rs 205, respectively.

Jaiprakash Associates dropped over 4% to Rs 55. TCS and Tata Steel slipped 3.3% each to Rs 503 and Rs 151, respectively.

Larsen & Toubro declined 3% to Rs 736. Wipro and ITC were down 2% each at Rs 229 and Rs 168, respectively.


Satyam and Tata Motors rallied nearly 2% each to Rs 234 and Rs 136, respectively.

ONGC and Maruti were up 1% each at Rs 686 and Rs 535, respectively.


Reliance topped the value chart with a turnover of Rs 337 crore followed by SBI (Rs 198 crore), Reliance Capital (Rs 182.70 crore), Educomp Solutions (Rs 143 crore) and Reliance Infrastructure (Rs 132.20 crore).

GVK Power led the volume chart with trades of around 2.20 crore shares followed by Suzlon (1.23 crore), Unitech (1.12 crore), Reliance Natural Resources (64.80 lakh) and Sesa Goa (63.25 lakh).

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