Sensex View & Outlook: Nirmal Bang Research
Market Round Up- The benchmark indices ended lower today for the third consecutive day despite strong gains in other Asian markets. The Sensex fell 150 points to close at 15,009 after hitting an intra-day low of 14,902. The Nifty shed 43 points to finish at 4,437 after hitting a low of 4,399. The broader indices underperformed the benchmark indices, slipped 1.7-2%. The markets plunged due to monsoon worries; auto and FMCG stocks were badly hit. Selling was across the board in capital goods, cement, power, telecom, banking and oil marketing stocks, except technology stocks witnessed buying interest throughout the day. The Aug Nifty future ended with 49 points discount at 4,388.
Movers & Shakers
The BSE auto index fell 4.5 % led by a decline in M&M, Bajaj Auto, Hero Honda, Maruti Suzuki and Tata Motors were down 3-9%.
The BSE FMCG index lost nearly 3 %. Colgate, ITC and HUL fell 3-8%.
The capital goods index slipped 2 %. BHEL, LT, Siemens lost 2% each.
IT stocks, however, ended higher today. The IT index on the BSE rose 2.6 %. Patni Computer, TCS and Mphasis rose over 6 % each.
Cement stocks like ACC, Ambuja Cements, Grasim and India cement declined 3-7% each.
In the pharma pack, Cipla shot up 6.12%, as the company manufactures Tamiflu, a drug used to treat Swine Flu. Aurobindo Pharma, Apollo Hospital, Glenmark gained 2-3%.
In the Sensex group TCS was the biggest gainer. The stock advanced 6 % to Rs 538. Wipro, Infosys and Tata Power surged over 2 % each.
M&M was the top loser in the pack. The stock plunged over 9 % to Rs 758. ACC also fell 6.5 % to end at Rs 809. HUL lost 3.3 % while Tata Motors lost 2.7 %.