Sensex View & Outlook: Nirmal Bang Research

Market Round Up-BSE The markets witnessed huge selling pressure in the last one hour of the trade and ended with deep cut after seeing consolidation for the last two days. The Sensex ended at 15,514 down 2.45% or 390 points after hitting a low of 15,443. The Nifty touched an intraday low of 4559 before closing 2.31% or 109 points lower at 4585. Among the broader indices, the BSE Midcap Index lost 2.4% and the Smallcap Index was down 1.3%. All the sectoral indices ended in the red. Auto, realty, metal, FMCG, infrastructure and technology stocks saw huge selling pressure. The market breadth was negative and the Volumes crossed the Rs 1 lakh crore mark, total traded turnover was at Rs
1,02,020 cr. as against Rs 87,766 cr.

Movers & Shakers The BSE auto index plunged 4.4 % as investors continued to book profit after the strong recent gains. Tata Motors, Ashok Leyland, Hero Honda and Maruti fell over 5 % each.

The realty index on the BSE fell 3.6 %. Indiabulls Real tumbled 8.04%. Sobha Developer, HDIL, Omaxe, DLF, Ackruti City and Unitech were down 2-3.6%.

The metal index dropped 3 %. In the metal space, Hindalco, Ispat Industries and Sterlite Industries fell over 4.5 % each.

The power index on the BSE fell 2.3 %. Suzlon Energy, Torrent Power, GMR Infra, Reliance Infrastructure, Reliance Power, NTPC, Tata Power and Power Grid Corp were down 1.8-4.4%.

In the oil & gas space, ONGC, Reliance Petroleum, GAIL and Reliance Industries went down 1.4-3.4%

In the capital goods space, Punj Lloyd, Siemens, ABB, L&T and BHEL slipped 1.7-3.7%.

In the Sensex pack, Tata Motors was the biggest loser. The stock fell 6.9 % to Rs 418. Hindalco also shed 6.5 % to end at Rs 103.