Sensex at 18K but Nifty holds 5400 at strong

The Sensex slipped below the 18,000 level - a psychologically important level at 14:30 hours. Traders could be withdrawing money by selling shares as foreign money started going out since January. Foreign investors were net sellers of Rs 6,000 crore in January; they too were net sellers for last three days.

Indices hit five months low today on the back of consistent sell-off for 5th consecutive session. However, the Nifty managed to hold back the 5400-mark.

All sectoral indices were under selling pressure. The Realty Index always hit the most due to panic selling - down 3.7%. FMCG, Auto, Oil & Gas and Capital goods indices were down 2-2.6%. Healthcare, Power, IT, Bank and Metal Indices fell 1-1.5%.

The 30-share BSE Sensex was trading at 18,023, down 305 points and the 50-share NSE Nifty tanked 95 points to 5,411, after hitting a low of 17,997.80 & 5,403.05, respectively. The broader indices too lost 1.5%.

However, indices managed to show some recovery immediately due to buying in HDFC, Sterlite, ONGC and Hindalco. Buying at lower levels too helped in recovery.

Heavyweight Reliance Industries tumbled below Rs 900, down 3%. Tata Motors was the top loser on Nifty with 6% fall. JSPL and BPCL went down over 4%.

NTPC, ITC, ICICI Bank, L&T, Wipro, Infosys, Reliance Communications, Kotak Mahindra Bank and Tata Steel lost 1.7-2.5%. TCS, SBI, HDFC Bank and BHEL declined 0.5-0.8%.

In midcap space, Apollo Tyres, Novartis India, Sadbhav Engg, Uttam Galva and Hathway Cable went up 3.6-5%. However, Jain Irrigation plunged 16.3%. SpiceJet, Escorts, GVK Power and Kingfisher Airlines fell 7.5-11%.

Sensex plunges

The benchmark Sensex shed over 200 points in trade today and continued its downtrend for fifth consecutive day at 11:51 hours. It tried to claw back in opening trade but that fizzled out again on the back of further profit booking, which could be because of outflow of foreign money.

Foreign institutional investors were net sellers to the tune of Rs 2900 crore in previous three sessions and in previous month - they were net sellers of nearly Rs 6,000 crore.

The 50-share NSE Nifty was consistently trading below 5450 level, led by fall in five shares as against one share advanced. It was trading at 5,440, down 65 points and the 30-share BSE Sensex slipped 210 points to 18,117.

Suresh Mahadevan, UBS Securities said FIIs could take the markets down by 10-15%. "Markets have fallen 10% in January on back of macro concerns. While we believe that higher inflation is priced in, we are yet to see significant selling by FIIs that can take markets down by 10-15%. Earning estimates are likely to be revised downwards. The Nifty will find support at 4500 levels."

Technology, capital goods, financial, cement, FMCG, power, healthcare and auto companies' shares were pulling the markets down. However, HDFC, ONGC, Kotak Mahindra Bank, Sterlite, DLF, Hindalco and Axis Bank were only losers in trade.

Wipro, TCS and Infosys from technology pack went down 2-3%. ITC and HUL from FMCG space tumbled 3% & 1%, respectively. Heavyweight Reliance Industries was down 1.4%.

Tata Motors from auto segment plunged over 4%. M&M, Hero Honda and Maruti lost 0.5-1%. In financial space, ICICI Bank, HDFC Bank and SBI were down 0.5-1.2%.

L&T and BHEL from capital goods space slipped two percent each. Reliance Communications and Bharti Airtel from telecom pack declined over 1%. Ambuja Cements and ACC tumbled 2-2.8%.

In midcap space, A2Z Maintenance, Novartis India, Info Edge, ARSS Infra and Glodyne Tech were up 3.5-5%. However, Jain Irrigation, SpiceJet, Escorts, Techno Electric and Kirloskar Oil lost 6-10%.

In smallcap space, Nagarjuna Agri, OCL India, BS TransComm, Phillips Carbon and Twilight Litaka gained 6.5-10% while Gemini Comm, Hawkins Cooker, Vikas WSP, Bheema Cements and India Securities fell 5-7.5%.

Nifty volatile

The benchmark Nifty started the trade with a flat to positive bias today, following upside in global markets. Indices were consolidating at their previous closing values after a consistent sell-off seen in previous four days. The Nifty was hovering around 5500 level.

Jagdish Malkani, Member, NSE is expecting that the markets may spike up by around 200-300 points. However, he is concerned that there will be a lot of selling in that rally.

Among frontliners, Bharti Airtel, Bajaj Auto, Maruti, Reliance Communications, Reliance Infrastructure, HDFC, Kotak Mahindra Bank, ONGC, SAIL, IDFC and Reliance Industries were on buyers' radar.

However, Tata Motors, GAIL, ICICI Bank, TCS, Wipro and ITC were witnessing selling pressure.

BPCL lost 1% on spike in crude. Crude oil was trading at USD 92 a barrel on New York Mercantil Exchange.

At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,392, up 64 points and the 50-share NSE Nifty rose 15 points to 5,522.

The CNX Midcap went up 49 points to 7,971. About 508 shares advanced while 176 shares declined on National Stock Exchange.

Midcap & Smallcap

Unitech lost 3%. The company approached court to stop pledged share sale held against debt raised by promoter entities.

Jet Airways was down 1.5% and Kingfisher Airlines down 0.4%. PSU oil companies will hike ATF prices by 4.5% effective Tuesday, reports CNBC-TV18 quoting PTI.

Stock Market in Pressure

Indian stock sell next day his back on the clock at 14:16 off in European markets pulled back toward less. Nifty to remain the benchmark against 5500 levels. Technology, FMCG, energy, telecommunications, cement, Anil Dhirubhai Ambani, to reside in personal financial and metal company "stock market pressure".

French CAC, German DAX and UK FTSE European markets such as Egypt was concerned about one percent. There between government troops and demonstrators President Hosni Mubarak, after which increases are struggling to remove. Were anti-government riots in more than 100 people were killed. Egypt controls the Suez Canal, oil and Asian goods to Europe for the supply was passed.

But ONGC, Siemens, BHEL, Dr Reddy's Laboratories in the continued sale, Reliance Industries, Hindalco, PNB, M&M and L&T has supported all the benchmark.

Blackstone Group Punita Kumar Sinha said the Indian market was not just to their lowest point in the evaluation provides an opportunity for further improvement.

Kumar, India and Indonesia said that she was seeing a steady outflow. He seems to Exchange Traded Funds and private investors are pulling money, as much support for the collapse of the Indian market trend is up.

However, Lalit Thakkar, MD organization, Angel Broking said that the Nifty bottoming out can be to a level of 5.400 to 5.350. He believes that interest will come from retail investors.

The 30-share BSE Sensex fell 221 points to 18,174 and the 50-share NSE Nifty slipped 51 points to 5,461. The BSE Midcap and Smallcap indices too declined 1.4% each.

Heavyweights TCS, ITC, Bharti Airtel, Infosys, HDFC and NTPC were down 2-3.6%. Jaiprakash Associates tanked 5% and Sterlite Industries lost 4%.

HDFC Bank, Sun Pharma, went DLF, Tata Motors and Tata Power down 1.5-3%.

Midcap space, Cholamandalam, Jammu and Kashmir Bank, Coromandel Intl, GSFC and collected Supreme Inds 3-6%, while 13% fell Mindtree. Jain Irrigation, Agro sanwaria, IVRCL Infrastructure and Kingfisher Airlines have lost 6-11%.

Nifty Below 5450

Nifty a weak note, under the leadership of the last meeting in January began to sell off in almost every heavy weight. U.S. markets fall at the back drop for the fourth consecutive day, tracking the tension in Egypt. Nifty has slipped below the 5450 level of panic selling and the tip was below 5400 points.

Investors are more cautious use of the Suez Canal, oil and Asian goods to Europe's growing important clashes between government forces and protesters demanding the removal of President Hosni Mubarak.

In frontliners, Maruti Suzuki (down 4.5% number -), Bharti Airtel, Reliance Communications, Jaiprakash Associates, Sterlite Industries, Tata Steel, Hero Honda, Tata Motors, BPCL, Sun Pharma, Wipro, DLF (number) L &T , TCS, Infosys, SBI, ICICI Bank and Kotak Mahindra Bank witnesses selling pressure was.

Siemens, however, jumped 16% after the open offer. Company bucks to buy an open offer of shares to 19.82% 930/share. Promoters currently hold 55% stake. Motion 25 is open and closed on March 13 in April

Dr. Reddy's Laboratories gained 3.3%, as it has received U.S. court approval to sell Allegra D24, CNBC TV 18-NW18 cited reports.

ONGC was 1.7%, as 7083 net profit of Rs 131 crore reported an increase in%

At 9:17 hours IST, the 30-share BSE Sensex was trading at 18,144, down 251 points and the 50-share NSE Nifty was at 5,449, down 63 points. 

The Nifty Junior fell 234 points to 10,620 and CNX Midcap lost 147 points to 7,733. About 107 shares advanced as against 663 shares declined on National Stock Exchange.

Midcap and smallcap space:


Mindtree lost 12% Ashok Soota retired company directors. Soota 1999 Mindtree the establishment.

Aban Offshore was the 2% and 8% Exide. Lupin, Ashok Leyland, United Phosphorus, S Kumar, REC, Apollo Tyres, South Indian Bank, Delta Corp., Best Galva and TVS Motor fell 3-5%.