All eyes on Infosys
The markets registered fifth straight day of losses with the key indices slipping over 1.5% each. Bears were in complete control as the markets slid following weak global cues. Banking, Technology and Pharma and Oil & Gas stocks led the fall with Bank index losing by 2.45%.The benchmark index fell below the 13400 as heavy weights like BHEL, Reliance Communication, SBI, Dr Reddy’s Lab, ONGC, ABB, Bharti Airtel and Infosys dragged the benchmark index to hit a low of 13336.52 in intra-day. Finally, the BSE benchmark Sensex fell below the 13400 level losing 204 points to close at 13362. NSE Nifty was down 61 points to close at 3850.
Shree Ashtavinayak has made an impressive debut on the bourses today, the scrip got listed at Rs189 and has rallied by over 28% to Rs202 touching an intra-day high of Rs204 and a low of Rs185 and has recorded volumes of over 16,00,000 shares on NSE. The company entered capital market with an initial public offering of 37,28,000 equity shares of Rs10 each and was subscribed by 6.04 times.
Deccan Chronicle spurred over 4.5% to Rs812 after the company announced that they would consider stock split plan on Jan 19. The scrip touched an intra-day high of Rs836 and a low of Rs756 and recorded volumes of over 1,00,000 shares on NSE.
Banking stocks led the down fall as index heavy weight SBI fell over 3.4% to Rs1134, ICICI Bank was down by 3.1% to Rs883, HDFC Bank dropped 1.7% to Rs996. Canara bank, OBC and PNB were the major loser among the Mid-Cap stocks.
Metal stocks fell as prices on LME slipped lower. National Aluminum fell over 3.5% to Rs200, SAIL declined by 2.5% to Rs82, Tisco was down by 0.7% to Rs452 and Sterlite Industries lost 1% to Rs520.
Oil exploration stocks lost ground. Heavy weight ONGC dropped 2.9% to Rs890 and Reliance Industries fell over 0.5% to Rs1273. The Oil refinery stocks also were on the receiving end IOC plunged over 4.55 to Rs446, HPCL was down 1.7% to Rs283 and BPCL edged lower by 0.25 to Rs345.
Telecom stocks ended lower as profit booking dragged them down. Heavy weight Bharti Airtel dropped 1.5% to Rs613, R Com lost 3.7% to Rs407 and VSNL slipped 2.8% to Rs421. However, MTNL added 1% to Rs156.
Real Estate stocks also were under pressure. Bombay Dyeing lost 3.3% to Rs711 and Gesco Corp dropped 4% to Rs805 and Century Textile shed by 0.5% to Rs720.
Cement stocks were also on the receiving end. Grasim dropped 1.8% to Rs2769, Gujarat Ambuja slipped 2% to Rs136, ACC was down 0.5% to Rs1019 and Kakatia Cement lost 1% to Rs100.
Power stocks were badly beaten up on back of selling pressure. Suzlon Energy lost over 4% to Rs1199, Reliance Energy slipped 2.1% to Rs504 and Tata Power declined 0.5% to Rs557