Market Update 3/2/2007

The markets opened on bearish note in the morning today and trade in red for most of the time before noon. During after noon markets witnessed some buying interest in the auto, pharma and sugar stocks and as a result it gained over 70 points but couldnot hold the gain and crumled sharply on the back of selling presure and ended the week in deep red. All the BSE indices closed down.

At 15.47 pm IST, the Sensex is down 273.42 points or 2.08% at 12886.13, and the Nifty down 84.45 points or 2.22% at 3726.75. About 897 shares have advanced, 1628 shares declined, and 52 shares are unchanged.

BSE Midcap closed down 56.35 points or 1.02% at 5,466.24 and BSE Smallcapended down 67.05 points or 1% at 6,645.81.

BSE Auto index ended down 54 points or 1.07% at 5,015.88. Asahi India, Hind Motors and M&M were hardest hit.

BSE Bankex was down 137.17 points or 2.08% at 6,447.33. Union Bank, SBI and BOB were the top losers.

BSE Consumer Durable index ended down 9.60 points or 0.27% at 3,571.49. Blue star, Samtel declined most.

BSE Capital Good index lose 273.98 points or 3.05% and closed in red at 8,723.25. L&T, Siemens and Bharat Electronics were top losers.

BSE FMCG index was down 30.01 points or 1.68% at 1,755.94. ITC, Tata Tea and Nestle declined most.

BSE Pharma Index closed down 32.37 points or 0.92% at 3,490.18. Divis lab, Biocon and Wockhardt were top losers.

BSE IT index ended down 117.30 points or 2.31% at 4,954.05. Mphasis, TCS and Wipro ended in red with deepest cut.

BSE Metal index closed down 103.03 points or 1.21% at 8,423.10. Hin Zinc, SAIL and JSW Steel were top losers.

BSE Oil & Gas index ended down 145.91 points or 2.30% at 6,192.91. Reliance, Petronet and BPCL were worst hit.

Markets today:

• Markets fall sharply in late trade on broad-based selling
• Bank, capital goods, technology, oil stocks biggest losers
• Sensex down 2.1% at 12,886; Nifty down 2.2% at 3727
• All major sector indices close in negative territory
• BSE Bankex down 3.1%; SBI down 4.8%, HDFC Bank down 4.4%
• BSE Capital Goods index down 3%; L&T down 5.3%, Siemens down 4%
• BSE IT Sector index down 2.3%; TCS down 3.7%, Infosys down 3%
• BSE Oil & Gas index down 2.3%; BPCL down 3.2%, HPCL down 2%
• Select gainers: Hero Honda up 3.7%, Nalco up 2.9%, Jet up 2%
• Second rung stocks face relatively lesser selling pressure
• NSE CNX Midcap & BSE Small Cap indices down 1% each
• Market breadth negative; NSE Advance Decline ratio 1:2
• Total turnover Rs 45,476.81 cr vs Rs 48,086.28 cr on Thursday

Turnover:

• NSE Cash turnover - Rs 8952.25 cr
• NSE F&O turnover - Rs 32529.46 cr
• BSE Cash turnover - Rs 3995.1 cr
• Total turnover - Rs 45476.81 cr