Mkt ends in deep red but off lows: Sensex down 800 pts

Tuesday, January 22, 2008

Mkt ends in deep red but off lows: Sensex down 800 pts


The markets closed in red but showed remarkable recovery and were off the lows. It was yet another scary session which opened with circuit down and the markets were shut for an hour then recovered a bit after opening but continued to witness some wild swings.However, markets got some buying support towards the end with some positive cues of recovery in European markets.The Finance Ministry has ruled out foul play in the stock market.

Nifty ended down 310 points recovered nearly 450 points from the day's low.

NSE Advance:Decline ratio was at 1:18; which was as bad as 1:87 at one of time.

Sensex closed down 850 points, it recovered over 1400 points from the day's low.

Bharti Airtel, Infosys, Reliance Energy, Idea, SBI, Nalco and Sesa Goa were among the stocks providing support at the lower levels.

ITC, M&M, Ambuja Cements, Hero Honda, ONGC, Sun Pharma, Ranbaxy are the top losers. The other losers were Tata Steel, Satyam, PNB, Maruti, Cipla and HUL.

Sensex closed down 875.41 points or 4.97% at 16729.94, and the Nifty down 309.50 points or 5.94% at 4899.30.

About 273 shares have advanced, 2668 shares declined, and 41 shares are unchanged.

The BSE Midcap Index ended at 7,202.25 down 9%.

The BSE Smallcap Index ended at 10,028.39 down 8%.

The BSE Bankex was down 4% at 10,158.35. Allahabad Bank, Andhra Bank, Karnataka Bank, IOB, Canara Bank, Union Bank closed in red.

The BSE Capital Goods Index closed at 16,452.73 down 4%. Carborundum, Alfa Laval, Astra Microwave, Bharat Elec, Jyoti Struct closed lower.

The BSE Auto Index closed at 4,475.56 down 4%. Escorts, MRF, Tube Investment, Ashok Leyland, Apollo Tyres, TVS Motor closed lower.

The BSE Metal Index closed at 14,114.03 down 6%. JindalStainless, Jindal Saw, Hind Zinc, Hindalco, Mah Seamless closed lower

The BSE FMCG Index closed down 8% at 2,000.17. Bata India, Tata Tea, GlaxoSmith Con, Dabur India, United Spirits, ITC ended lower.

BSE Oil and Gas Index closed at 9,974.78 down 10%. Reliance Natura, Essar Oil, Petronet LNG, Reliance Petro, ONGC, HPCL ended lower.

The BSE IT Index was at 3,443.59 down 4%. iflex, HCL, Infosys, Tech mahindra, TCS, Tech Mahindra closed lower.

The NSE cash turnover was at Rs 20589.74 crore and the NSE F&O turnover was at Rs 44307.58 crore.

So, what have we here... Market recovering??? No idea...

Some are saying that the Global cues will stabilize, and market will be alright. But, investors are warned from plunging now as the market is very volatile.

Let's wait and see what wednesday have in store for us. :)

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