Indian equities dipped further on Friday led by metal, power and
realty sectors. Q1 GDP growthcame inslightly better at 5.5% against
5.3% growth widely expected by the market participants. European
markets were trading ahead of US Federal Reserve Chairman Ben
Bernanke speech later in the day.
At 1.45 p.m., the Sensex was trading down 118.29 points or 0.67%
at 17,423.35 with 24 components falling. Meanwhile, the Nifty was
trading lower by 51.20 points or 0.96% at 5,263.85 with 45
Reliance Industries contributed fall of 20.69 points in the
Sensex. It was followed by ICICI Bank (15.2 points), Tata
Consultancy Services (13.47 points), ITC (12.78 points) and
Hindustan Unilever (12.31 points).
However, Housing Development Finance Corporation contributed
rise of 7.18 points in the Sensex. It was followed by Oil &
Natural Gas Corporation (5.93 points), Bharti Airtel (5.11 points),
State Bank Of India (2.18 points) and H D F C Bank (0.11
Biggest gainers in the 30-share index were Bharti Airtel
(1.34%), Cipla (1.25%), Oil & Natural Gas Corporation (0.83%),
Housing Development Finance Corporation (0.57%), State Bank Of
India (0.37%), and HDFC Bank (0.01%).
On the other hand, Sterlite Industries (India) (3.31%), Bharat
Heavy Electricals (2.65%), Hindalco Industries (2.64%), Hero
Motocorp (2.38%), Coal India (2.08%), and Hindustan Unilever
(1.90%) were the major losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger
counterparts gaining 0.10% and 0.16% respectively. The major
gainers in the BSE Midcap were Alok Industries (2.6%), Aban
Offshore (0.88%), Allcargo Logistics (0.27%), Amtek Auto (0.23%)
and Amara Raja Batteries (0.11%).The major gainers in the BSE
Smallcap were Aanjaneya Lifecare (4.76%), Action Construction
Equipment (4.52%), Adhunik Metaliks (2.16%), Aarti Industries
(0.35%) and Trident (0.23%).
Sectors in Limelight
The Metal index was at 9,660.47, down by 146.07 points or by
1.49%. The major losers were Hindalco Industries (2.64%), Coal
India (2.08%), JSW Steel (0.62%), Hindustan Zinc (0.48%) and
Bhushan Steel (0.24%).
The Power index was at 1,867.54, down by 26.07 points or by
1.38%. The major losers were G M R Infrastructure (6.53%), JSW
Energy (2.9%), Bharat Heavy Electricals (2.65%), NTPC (1.87%) and
Reliance Infrastructure (1.42%).
The Realty index was at 1,505.97, down by 19.12 points or by
1.25%. The major losers were D L F (2.02%), Housing Development and
Infrastructure (1.88%), Godrej Properties (1.43%), Indiabulls Real
Estate (1.26%) and D B Realty (0.92%).
On the other hand, the HC index was at 7,497.55, up by 25.72
points or by 0.34%. The major gainers were Biocon (3.5%), Cadila
Healthcare (2.21%), Glaxo SmithKline Pharmaceuticals (2.09%), Cipla
(1.25%) and Aurobindo Pharma (1.14%).
Market breadth was negative with 1,264 advances against 1,374
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a
turnover of Rs. 629.17 million. It was followed by United Spirits
(Rs. 533.77 million), Indraprastha Gas (Rs. 300.01 million) and I C
I C I Bank (Rs. 272.27 million).
The volume chart was led by Cals Refineries with trades of over
15.77 million shares. It was followed by Mahanagar Telephone Nigam
(5.48 million), Kingfisher Airlines (5.22 million) and Spicejet