Markets crash: Sensex below 10K

Mumbai: It was the biggest weekly loss for the Sensex in five weeks as markets caved into selling pressure.

The Sensex closed down 143.19 points or 1.41% at 9981.11. It touched an intraday high of 10184.04 and an intraday low of 9970.

The Nifty closed down 40.10 points or 1.33% at 2981.50. It touched an intraday high of 3038.80 and an intraday low of 2976.70.

The CNX Midcap Index closed down 68.55 points or 1.54% at 4368.85. It touched an intraday high of 4457.95 and an intraday low of 4362.80.

The BSE Small Cap Index closed down 139.83 points or 2.21% at 6196.28. The BSE Midcap Index closed down 68.30 points or 1.42% at 4754.88.

The market breadth was extremely negative, about 592 shares advanced, 1884 shares declined, and 47 shares remained unchanged.

Grasim, Nalco, Hindalco, Hero Honda, IPCL, Tata Motors and ITC were the biggest index losers.

Zee, Wipro, Ranbaxy Labs, Jet Airways, GSK Pharma, and Bajaj Auto were the biggest index gainers.

The total market turnover today was at Rs 38,823.65 crore (Rs 388.23 billion). The BSE cash turnover was at Rs 3,508.84 crore (Rs 35.08 billion). The NSE cash turnover was at Rs 7,099 crore (Rs 70.99 billion). The NSE F&O turnover was at Rs 28,215.81 crore (Rs 282.15 billion).

Experts believe that since the markets are moving in a volatile fashion, one must stay out of them and just watch levels.

The BSE FMCG Index underperformed the other indices. It closed down 2.66% at 1879.21 amid losses in Shaw Wallace, McDowell, Tata Tea, HLL, Colgate, ITC and Dabur India.

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Metal stocks including Nalco, Hindalco, Sesa Goa, JSW Steel, Hindustan Zinc, Welspun Gujarat and Sterlite Industries also ended in the red. The BSE Metal Index closed down 2.22% at 6831.78.

The BSE Bankex closed down 1.90% at 5086.56 as stocks including Bank of India, Canara Bank, IOB, PNB, Bank of Baroda, Oriental Bank, ICICI Bank, HDFC Bank, SBI and Union Bank ended lower.

Auto stocks including Hero Honda, Tata Motors, Bharat Forge, Punjab Tractors, Cummins, Tube Investment, Amtek Auto, Escorts, MRF and Ashok Leyland also lost ground. The BSE Auto Index closed down 1.75% at 4811.27.

Capital goods stocks including Greaves Cotton, KEC International, Ingersoll Rand, Alstom Projects, Larsen, ABB, Siemens and Alfa Laval also witnessed selling pressure. The BSE Capital Goods Index closed down 1.54% at 7079.22.

Consumer durable stocks like Su-Raj Diamonds, Titan and Mirc Electronic also finished lower. The BSE Consumer Durables Index closed down 1.52% at 3174.58.

The BSE Oil & Gas Index closed down 1.30% at 4398.99 due to selling in Kochi Refineries, ONGC, BPCL, HPCL, MRPL, Chennai Petro, Petronet LNG and Gail.

Pharma stocks including Wyeth, Wockhardt, Aventis Pharma, Novartis India, Apollo Hospital, Lupin, Glenmark and Cadila Health also depressed. The BSE Healthcare Index closed down 0.93% at 3541.97.

However, select technology stocks surged up. The BSE IT Index closed up 0.27% at 3644.33.