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Sensex recovers, ends down 94pts

This article was posted on Nov 17, 2008 and is filed under Market News

The Sensex opened 12 points higher at 9,397, touched a high of 9,436, and then soon slipped into the negative zone. Aggressive selling in banking and realty stocks dragged the index below the 9,000-mark to a low of 8,957 – down 479 points from the day’s high.

Selective buying at lower levels helped the index cut losses towards the close. The Sensex finally ended with a loss of 94 points at 9,291.

The BSE Realty index plunged over 5% to 1,908, and the Bankex tumbled nearly 4% to 4,956. The Consumer Durables and the Metal indices slipped over 3% each to 1,877 and 4,723, respectively.

The market breadth was fairly negative – out of 2,539 stocks traded, 1,799 declined, 680 advanced and the rest were unchanged today.


Wipro and ACC surged around 4.5% each to Rs 252 and Rs 437, respectively.

Tata Motors, Maruti and Bharti Airtel rallied around 2.5% each to Rs 140, Rs 550 and Rs 665, respectively.

NTPC, Infosys, BHEL and ONGC advanced around 1% each to Rs 151, Rs 1,233, Rs 1,293 and Rs 700, respectively.


HDFC Bank slumped 7.7% to Rs 934. Reliance Infrastructure plunged over 6% to Rs 484.

Tata Steel and DLF shed 4% each at Rs 166 and Rs 231, respectively.

HDFC and Satyam tumbled nearly 4% each to Rs 1,498 and Rs 252, respectively.

Hindalco dropped 3.5% to Rs 55, and Tata Power slipped 3% to Rs 724.

ITC and Mahindra & Mahindra declined 2.7% each to Rs 166 and Rs 322, respectively.

ICICI Bank and TCS dropped over 2% each to Rs 387 and Rs 519, respectively.

Jaiprakash Associates and Ranbaxy were down around 1.5% each at Rs 72 and Rs 211, respectively.


Reliance topped the value chart with a turnover of Rs 291.30 crore followed by ICICI Bank (Rs 180.50 crore), Reliance Capital (Rs 144.80 crore), HDFC (Rs 135.70 crore) and SBI (Rs 111.80 crore).

GVK Power led the volume chart with trades of around two crore shares followed by Suzlon (1.48 crore), Unitech (1.41 crore), Chambal Fertilisers (69.50 lakh) and Tata Teleservices (64.80 lakh).

source: BusinessStandard

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