Indian Sensex Down On Uncertainties Over Next Monday’s Budget

–Comes off its high
–However posts its highest quarterly gain in 17 years

Sensex fell 291.90 points or 2% to 14493.84
Nifty fell 99.85 points or 2.3% to 4291.10.
Mid Cap index fell 2.9%. Small Cap fell 2.5%.
BSE 500 was down 2.5%. Sensex losers: 27

All 13 BSE Sectoral indices posted losses.
Advancers: 760, Decliners: 1841, Unchanged: 73
Advance/Decline ratio: 3:7

Sensex Day’s Range: 14907.48 - 14420.41
Nifty Days Range: 4426.75 - 4267.35
52-Week Range: 15600.30 - 7697.39
52-week change: -7.1%

Sensex losers included DLF -8.1%, Tata Motors -7.2%, JP Assoicates -7.2%, Sterlite Ind –6%, Reliance Infra -5.5%, R Com -5.5% and ICICI Bank -3.6%.

Sensex gainers were: Hero Honda 1.1%, TCS +1% and HUL 0.4%.

Realty index fell 7.4% led by HDIL -12.2%, Indiabulls Realty -8.3%, DLF -8.1%, Unitech -6.7%, Mahindra Life -5% and Orbit Corp -5%.

Metal index tumbled 3.4% supported by Welspun Gujarat -9.2%, Ispat Ind -6.4%, Sterlite Ind -6%, Guj NRE Coke -4.9%, Jai Corp -4.9% and Jindal Saw -4.4%.

Power index plunged 3.2% aided by Suzlon -11.4%, GMR Infra -8.8%, GVK Power -6.3%, Reliance Infra -5.5%, Siemens -5% and Rel Power -4%.

Capital Goods index tanked 3.2% helped by Suzlon -11.4%, Havells India -7.7%, Alstom Projects -6.7%, Everest Kanto -6.3%, Punj Lloyd -5.6% and Areva T & D -5.5%.

Bankex lost 2.5% facilitated by IDBI Bank -6%, Kotak Mahindra Bank -5.8%, IndusInd Bank 5.5%, Axis Bank -3.9%, ICICI Bank -3.6% and Oriental Bank -3.4%.

All other sectoral losers were: Oil & Gas -2.3%, Healthcare -2%, Auto -2%, PSU -1.7%, Teck -1.5%, Consumer Durables -1.5%, FMCG -0.6% and IT -0.6%.

Volume shockers on the BSE:
Suzlon 24.76 million shares, Unitech 20.34 mln shares, RNRL 13.49 mln shares and IFCI 12.49 mln sjhares

Turnover:
Total traded turnover stood at Rs 78,432.23 crore. This included Rs 19,313.04 crore from the NSE cash segment, Rs 52,352.53 crore from the NSE F&O and the balance Rs 6,766.66 crore from BSE cash segment.

Buzzers:
Farmax Retail +20% at Rs 86.40, Ajmera Realty +17.4% at Rs 215.95, BPL +9.9% at Rs 29.90, Savera Hotels +8.6% at Rs 34.80, Tulip Telecom +7.8% at Rs 843.85 and Srei Infra +7.1% at Rs 82.05.

Heavy Losers:
HDIL -12.2% at Rs 232/70, Asahi India -11.9% at Rs 49.85, Suzlon -11.4% at Rs 103.70, Bajaj Hindusthan -10.9% at Rs 204.30, Rishabhdev Tech -10.3% at Rs 24.40 and DCM Shriram Ind -10.2% at Rs 88.55.

Suzlon Energy dips 11 pct:
The shares of Suzlon Energy ended lower 11 per cent to Rs 103.70 on confusion about its stake sell in Hansen Transmission and the reduced level of visibility from order backlog point of view.

GMR Infra dips on dropping QIP Plan:
GMR Infrastructure lost nearly 8.8% to Rs 141.65, as the company was not to proceed with QIP (qualified institutional placement), reported CNBC-TV18 quoting sources. The company had earlier cut QIP size to $100-200 million from $500 million.

Unitech falls 7 pct:
Unitech, India’s No. 2 listed property developer, has got commitments to raise about $575 million from institutions in its second round of shares sales, sources told Reuters. The share however ended lower 6.7 per cent to Rs 79.60.

Tech Mahindra attracts buyers but stock falls:
Tech Mahindra rose 4.2 per cent to Rs 773 in the early session after the news that British Telecom, Satyam and Tech Mahindra will work together to increase their business. However, the stock fell 1.4 per cent to Rs 732.40 from its previous close of Rs 742.40 in line with the prevailing weakness in the market.

U.K. Economy shrinks most since 1958:
The U.K. economy shrank more than previously estimated in the first quarter in the biggest contraction since 1958 as the recession choked industries from construction to services. Gross domestic product fell 2.4 percent from the final three months of 2008, compared with the prior measurement of a 1.9 percent drop, the Office for National Statistics said today in London.

Asian Markets:
Asian markets ended mixed. Shanghai, Hang Seng and Jakarta Composite were down 0.4-0.8%. However, Nikkei gained 1.8%. Straits Times and Taiwan Weighted rose 0.6% each. Kospi was up just 0.1%.

European Markets:
European markets were quoting: FTSE 100 was -0.1%. The CAC 40: -0.2% and the DAX was -0.2%.

Crude:
Crude was quoting at $71.70 per barrel.

Optimism:
Investors expect that the Union Budget would usher in fresh economic measures to boost the economy.

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