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Sensex ends weak
CONTENT COURTESY SHAREKHAN
30th September, 2005:  The Sensex and
the Nifty ended marginally lower, after succumbing to huge
losses in early trades.
After touching new peaks in the last few trading sessions, the
market finally slipped marginally and fell in line with other
Asian market peers.
A positive open saw the Sensex begin the trading session 23
points higher at 8673 and touch an intra-day high of 8684 in
early trades. However the market soon turned bearish and
witnessed a fall as the trading session progressed. Relentless
selling pressure gripped the market in early noon trades and
the Sensex tumbled deep into the red to touch an intra-day low
of 8527, down 157 points from the day's high. The Sensex
erased most of the losses towards the close on steady to
strong buying in select heavyweights, but still ended weak at
8634, down 16 points. The Nifty, too, after a mixed outing,
shed ten points to close at 2601.
The market breadth was extremely negative. Of the 2,541 stocks
traded on the BSE, 2,118 stocks declined, 405 stocks advanced
and 18 stocks ended unchanged.
The BSE Small cap index lost 1.87%. Sectoral indices like the
BSE PSU index, the BSE CG index, the BSE FMCG index and the
BSE Oil & Gas index also ended at lower levels. The BSE Auto
index, the BSE Bankex, the BSE HC index and the BSE IT index,
however, logged steady gains.
Reliance Industries dropped 1.89% at Rs793 and L&T tumbled
2.13% at Rs1,511. Infosys, ONGC, ITC and Wipro also closed in
negative territory. ICICI Bank, however, advanced 2% at Rs607
and Reliance Energy soared 3.56% at Rs581. HDFC, Bajaj Auto,
Dr Reddy's, Satyam, SBI and Tisco gained nearly 1-2% each.
Over 84.97 lakh HFCL shares changed hands on the BSE followed
by Reliance Capital (72.28 lakh shares), IFCI (51.75 lakh
shares) and Tata Tele (43.05 lakh shares).
Value-wise Reliance Capital registered a turnover of Rs282
crore on the BSE followed by Reliance Industries (Rs233 crore),
Satyam (Rs175 crore) and SBI (Rs112 crore).
Movers & Shakers
* ACC ended flat despite selling its refractory business for
Rs257 crore.
* Reliance Capital lost ground despite getting the IRDA's nod
to pick up a 100% stake in AMP Sanmar Life Insurance Company.
* An order worth $66 million from MK Shipping failed to lift
Bharati Shipyard.
DISCLAIMER
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