Tuesday, February 17, 2009

Market Wrap 17 Feb 2009

Sensex Down 2.91%

Indian equities which belled on a negative note mirroring weak trends of Asian markets continued to trade negative due to selling pressure witnessed in realty, consumer durables (CD) and banking stocks which shed over 4%.

The pressure was so intense that the 30-share BSE Sensex fell below the 9,000 mark to hit a day`s low of 8,994.34 pts in the noon sessions. It however recouped towards the end of session embracing its psychological level once again.

Asian stocks fell, dragging the regional benchmark index down by the most in three weeks.

The Sensex ended the day with a loss of 270.45 points, or 2.91% at 9,035.00 after touching a high of 9,213.40 and a low of 8,994.34. The broad-based NSE Nifty fell 78.00 points, or 2.74% at 2,770.50 after hitting a high of 2,854.65 and a low of 2,757.30. 

BSE Midcap and Smallcap too ended on a negative note down by 2.31% and 2.35% respectively.

ITC which was up by 0.08% was the only major gainer in the 30-share index

On the other hand, Tata Steel (6.74%), ICICI Bank (5.69%), DLF (5.19%), Mahindra & Mahindra (5.01%), Hindalco Industries (4.73%), and Reliance Communications (4.53%) were the biggest losers in the Sensex.

Overall market breadth was negative. Out of the total 2,504 shares traded at BSE, 682 advanced, 1,722 declined while 100 remained unchanged.