Last-hour selling pips market

The 30-stock Sensex of the BSE started the day with an optimistic note--81 points higher than its previous close (14,483). However, in the next 10 minutes it was trading below the previous close, and all through the day it traded below this level. Action was witnessed an hour-and-a-quarter before the closing bell—the index fell precipitously and in the next 45 minutes the Sensex was trading at the lowest of the day, more than 200 points lower.

The slide was driven by selling in heavyweights and major correction in reality, banking, power, capital goods and consumer durable stocks.The index wrapped up the day 185 points or 1.28% lower.

The 50-stock Nifty also witnessed almost similar up and downs and wound up the day 45 points or 1.05% lower.

All the 13 sectoral indices ended lower today. BSE Realty (-3.5%), BSE Bankex (-2.14%) and BSE Power (-1.41%) were the top three losing indices for the day. BSE CG, BSE Oil & Gas and BSE PSU lost around 1%, while the remaining seven indices posted marginal losses.

The breadth of the market was extremely negative, as around 58% stocks (1,571 stocks) declined while 38% stocks (1,036 stocks) advanced. Around 4% stocks (99 stocks) ended unchanged.

Of the 30 stocks that constitute the Sensex, only four stocks added to their values. These stocks were Hindalco, up 2.06% at Rs138.50, Infosys Technologies up 0.50% at Rs1,708, Tata Steel up 0.67% at Rs581.40 and Mahindra & Mahindra up 0.29% at Rs575.90.

Among the major losers, DLF tumbled 3.99% at Rs478.20, Reliance Infrastrusture plunged 3.65% at Rs965.75, State Bank of India slumped 2.96% at Rs1,330.90, ICICI Bank dropped 2.71% at Rs648.85, HDFC shed 2.47% at Rs2,286, Tata Motors lost 2.43% at Rs422.80, BHEL declined 3% at Rs1,748 and Reliance Communications down 2.34% at Rs397.30. Other frontline stocks too were down around 0.50-2% each.

Reality stocks were hit the hardest. Indiabulls Realestate crashed 8.59% at Rs261.70, DLF tumbled 3.99% at Rs478.20, Ansal Properties declined 3.11% at Rs99.65 and Unitech dropped 2.28% at Rs156.35. Akruti City, Peninsula Land, Orbit Corporation, Parsvnath Developers and Mahindralife were down over 1-2% each.

On turnover front, over 1.30 crore Nutek India shares changed hands on the BSE followed by Reliance Natural Resources (1.20 crore shares), GTL Infrastructure ( 78.68 lakh shares), Firstsounce Solutions (74.85 lakh shares) and Chambal Fertilisers & Chemicals(62.06 lakh shares).