Sensex plunges over 300 points as Rail Budget disappoints - The New Indian Express

Sensex plunges over 300 points as Rail Budget disappoints

Published: 26th February 2013 04:18 PM

Last Updated: 26th February 2013 04:18 PM

Railway Minister Pawan Bansal's maiden Budget failed to impress the Street. Indian equities plunged today withNifty dipping below 5,800 amid a huge selloff.Oil & gas, auto and capital goods were badly hit. At the close, the benchmark 30-share index, BSE Sensex declined 316.55 points or 1.64% at 19,015.14 with 25 components posting drop. Meanwhile, the broad based NSE Nifty fell by 93.40 points or 1.60% at 5,761.35 with 44 components registering drop Sensex Movers

Reliance Industries contributed fall of 55.38 points in the Sensex. It was followed by Housing Development Finance Corporation (53.6 points), I C I C I Bank (40.4 points), Oil & Natural Gas Corporation (30.01 points) and Larsen & Toubro (22.46 points).

However, Infosys contributed rise of 23.57 points in the Sensex. It was followed by Tata Consultancy Services (15.46 points), Bharti Airtel (4.59 points), Grasim Industries (2.65 points) and NTPC (2.12 points).

Major gainers in the 30-share index were Tata Consultancy Services (1.56%), Infosys (1.47%), Bharti Airtel (0.96%), NTPC (0.73%), and Hindustan Unilever (0.22%).

On the other hand, Hindalco Industries (4.49%), Bajaj Auto (4.20%), Housing Development Finance Corporation (3.76%), Oil & Natural Gas Corporation (3.74%), Tata Motors (3.29%), and Reliance Industries (3.11%) were the biggest losers in the Sensex.

Mid & Small-cap Space

The BSE Mid and small caps underperformed their larger counterparts declining -1.73% and -2.41% respectively.The major losers in the BSE Midcap were Amara Raja Batteries (3.72%), Aban Offshore (3.1%), A I A Engineering (3.02%), Alstom India (2.74%) and Allahabad Bank (1.78%).The major losers in the BSE Smallcap were Aanjaneya Lifecare (20%), Trident (4.51%), A2Z Maintenance & Engineering Services (4.09%), Styrolution ABS (India) (0.97%) and Aarti Industries (0.74%).

Sectors in Limelight

The Auto index was at 10,467.82, down by 317.05 points or by 2.94%. The major losers were Bajaj Auto (4.2%), Mahindra & Mahindra (3%), Ashok Leyland (2.79%), Bharat Forge (2.2%) and Hero Motocorp (0.77%).

The Oil & Gas index was at 8,722.49, down by 242.3 points or by 2.7%. The major losers were Hindustan Petroleum Corporation (3.64%), Bharat Petroleum Corporation (1.66%), G A I L (India) (0.89%), Cairn India (0.28%) and Castrol India (0.19%).

On the other hand, the IT index was at 6,800.82, up by 73 points or by 1.09%. The major gainers were Tata Consultancy Services (1.56%) and Infosys (1.47%).

Market Breadth

Market breadth was negative with 812 advances against 2,104 declines.

Value and Volume Toppers

Power Grid Corporation Of India topped the value chart on the BSE with a turnover of Rs. 1,024.06 million. It was followed by State Bank Of India (Rs. 742.24 million), Jet Airways (India) (Rs. 622.94 million) and Zee Entertainment Enterprises (Rs. 536.51 million).

The volume chart was led by Power Grid Corporation Of India with trades of over 9.23 million shares. It was followed by Birla Cotsyn (India) (9.07 million), Suzlon Energy (5.98 million) and Housing Development and Infrastructure (3.72 million).

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