India Stock Market: Sensex Down 230.77 Points On Thursday

Sensex (^BSESN) down 230.77 points on Thursday (October 29, 2009)
-4th Consecutive fall
-Markets witness huge selling pressure

Sensex fell 230.77 points or 1.4% to 16052.72
Nifty (^NSEI) fell 75.60 points or 1.6% to 4750.40
Mid Cap fell 2%. Small Cap fell 1.3%.
BSE 500 fell 1.6%. Sensex losers: 23

Of 13 BSE Sectoral indices, 11 posted losses
Advancers: 818, Decliners: 1880, Unchanged: 59
Advance/Decline Ratio: 1:2

Sensex Day’s Range: 16264.09 - 15993.89
Nifty Day’s Range: 4826.10 - 4738.40
52-Week Range: 17493.17- 8047.17
52-Week change (%): -8.2%

Sensex ended down sharply tracking a fall in Asian and U.S. stocks, which tumbled after disappointing data on the U.S. housing market fuelled concerns about global growth. Banks continued to be the top losers, on worries their profits would be hurt after the central bank raised the provision ratio for bad debts in its credit policy review.

Sensex gainers were: Mahindra & Mahindra +3.6%, ONGC +1.6%, Sun Pharma +1.5%, HUL +0.8%, HDFC +0.5%, ITC +0.2% and HDFC Bank +0.2%.

Sensex losers include DLF -6.8%, Reliance Comm -6.5%, ICICI Bank -4.8%, JP Associates -4.1%, Bhel -3.8%, Tata Steel -3% and Hindalco -2.7%.

Realty index fell 6.4% led by Indiabulls Realty -9.3%, Unitech -7.1%, DLF -6.8%, HDIL -5.3%, Parsvnath -4.3% and Ansal Properties -3.5%.

Metal index dropped -2.6% suppoted by Jindal Steel -4.3%, NMDC -4.2%, Welspun Guj -3.9%, JSW Steel -3.6% and Nalco -3%.

Bankex tumbled 2.6% helped by Bank of India -12.3%, Indian Overseas Bank -8.2%, Allahabad Bank -5.7%, Kotak Mahindra Bank -5.3% and ICICI Bank -4.8%.

Teck tanked 2% assisted by Tata Comm -9.2%, Dish TV India -7.9%, Reliance Comm -6.5%, Tata Teleservices -5.3% and MTNL -5%.

Power index slipped 2% aided by GMR Infra -7.5%, Reliance Power -4.3%, Bhel -3.8%, Neyveli Lignite -3.5%, Suzlon Energy -3.3% and GVK Power -2.4%.

Other sectoral losers were: IT -1.8%, Capital Goods -1.7%, PSU -1.4%, Consumer Durables -0.9%, Oil & Gas -0.7% and Auto -0.7%.

Healthcare index ended flat.

FMCG was the only sector, which moved up 0.7%.

Buzzers:
Citurgia Biochem +20% at Rs 124.60, PNB Gilts +20% at Rs 28.55, Rishabhdev Tech +19.9% at Rs 20.50, Techtran Polylenses +17.2% at Rs 21.85, Panyam Cements +12.9% at Rs 132, Natural Capsule +10.9% at Rs 42.85 and Petron Engg +10% at Rs 197.15.

Heavy Losers:
Bank of India -12.3% at Rs 357.80, Ester Industries -10.8% at Rs 20.60, Hitech Plast -10% at Rs 72.80, Modern India -10% at Rs 180.20, Donear Ind -9.8% at Rs 22.60, Silver Smith -9.6% at Rs 20.80 and Indiabulls Realty -9.3% at Rs 239.40.

Turnover:
The markets clocked total turnover of Rs 1, 43,605.92 crore on expiry day and F&O turnover remained above the Rs 1 lakh crore mark for the third day in a row. Total turnover included Rs 20,604.15 crore from the NSE cash segment, Rs 1, 18,012.74 crore from the NSE F&O and the balance Rs 4,989.03 crore from the BSE cash segment.

PNB Gilts jump 20 pct:
In the smallcap space, PNB Gilts shot up 20% at Rs 28.55 as PNB said, it would merge PNB Gilts with self by December-end.

Inflation:
The wholesale inflation rose at its fastest pace in six months in the year to Oct. 17 and is set to quicken sharply, just as the Reserve Bank of India forecast this week in laying the ground work for a future rate rise.

The widely watched wholesale price index rose by 1.51 percent in the 12 months to Oct. 17, its strongest pace since May 16 when it was 1.65 percent.

The annual rise was slightly below market forecasts for an increase of 1.59 percent, but showed a pick up from 1.21 percent in the week-earlier data.

Asian Markets:
Shanghai Composite plunged 2.3%. Hang Seng declined 2.3% Nikkei dropped 1.8%. Straits Times fell 0.6%. Seoul Composite slipped 1.5%. Taiwan Weighted tumbled 2.4%.

European Markets:
European markets were trading: FTSE: -0.03%, DAX: +0.1%, CAC flat.

Crude:
Crude was quoting at $77.85 a barrel.

Concern:
Heightened worries about global growth

An eight-month, 68 percent rally in global stocks failed to convince investors and analysts that it’s time to take on more risk or dispel their concerns about U.S. economic policies and its banking system.

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