Indian Markets close lower on Monday; Stock Market Review: Nirmal Bang
The benchmark indices ended lower on profit booking and weak Asian and European cues. The sell-off was seen in shares of metal, realty, capital good, infrastructure, telecom, and oil & gas companies. Selling was across the board and all sectoral indices closed in the red. The Bse Sensex ended down 193 points to close at 11,683 after trading in the range of 12,026-11,621. The Nifty shut at 3,554 down 66 points or 1.8% after trading between 3658-3534. Among the broader indices - the BSE Midcap Index slipped 1.56% or 59 points and the Smallcap Index lost 2.15% or 92 points.
Movers & Shakers
The BSE realty index slumped 5.2 % led by selling in Unitech, and Orbit Corp. The stocks fell more than 8 % each. DLF and HDIL were down 4-5%.
The BSE capital goods index lost 2.5 %. Punj Lloyd, Siemens, L&T, BHEL and ABB fell 2-4%.
The BSE metal index shed 1.7 %. In the metal space, Welspun-Gujarat, SAIL and Hindustan Zinc were the biggest losers, down over 4 % each.
Huge selling pressure was also seen in telecom sector. Reliance Comm, Tata Comm, Idea Cellular and Bharti Airtel fell 2.5-4.6%.
In the banking space, SBI tumbled 4.86% and PNB was down 1.55% while ICICI Bank, HDFC Bank and Axis Bank were gainers up .50-2%.
In the Sensex pack DLF was the biggest loser. The stock fell 5.1 % to Rs 228. SBI, RCom and JP Associates were the other main losers in the group down 5% each.
M&M, however was the gainer in the pack up 1.5 %.