Millennium Post

The day before: Markets crash into Kejri-wall

The day before: Markets crash into Kejri-wall
Downward march in Sensex continued for the seventh consecutive day, dipping another 491 points to end at 28,227.39 on all-round selling pressure by funds and retail investors amid exit polls showing that the BJP may not be able to form government in Delhi.

Persistent foreign capital outflows coupled with weakness in the global market also affected the market sentiment. Shares of the Capital Goods, Realty, Metal, Auto, banking, Consumer Durable, FMCG and Refinery declined sharply on heavy selling pressure. The sensex resumed lower at 28,566.50 and dropped further to 28,183.32 before finishing at 28,227.39, showing a loss of 490.52 points or 1.71 per cent.

It has lost 1,454.38 points or 4.90 per cent in the seven trading days. The CNX 50-sahre Nifty also fell by 134.70 points or 1.56 per cent to 8,526.35. Major sensex losers in points were Larsen (115.71 points) Icici Bank (51.05 points), TCS (42.56 points), Tata Motors (40.79 points), SBI (36.68 points), HDFC Bank (36.71 points), Reliance Ind (30.10 points), HDFC (28.55 points), Axis Bank (21.65 points) and ITC (21.18 points). Foreign portfolio investors sold shares worth a net Rs 96.45 crore last Friday, as per provisional data.

Asian markets ended lower after dismal Chinese trade data eclipsed a strong US jobs report, raising concerns about a deepening slowdown in the world’s second-largest economy. Key indices in Taiwan, Singapore, South Korea and Hong Kong ended lower by 0.37 pct to 0.64 pct while indices in Japan and China rose by 0.36 pct to 0.62 pct. European stocks were trading lower as concern grew over the political situation in Greece as Greece’s Prime Minister Alexis Tsipras reaffirmed his rejection of the country’s international bailout program.

Key indices in France, Germany and UK fell by 0.18 pct to 0.54 pct. Mr.Jignesh Chaudhary, Head Of Research, Veracity Broking Services said,” In Delhi elections, exit polls showed Prime Minister Narendra Modi may face defeat, taking cues from this Indian local equity continued to trade weak and during the day indices went down by over one & half per cent which forced indices to post its seventh daily fall in a row.  Metal stocks also declined as weak Chinese import data fuelled the worries over the economic growth”. 24 scrips out of the 30-share sensex pack ended lower while remaining six finished higher.

Major losers were Larsen (6.61 pct), Tata Steel (5.79 pct), SSLT (4.65 pct), Gail India (4.52 pct), Cipla (3.90 pct), SBIN (3.65 pct), Tata Motors (3.06 pct), M&M (3.05 pct), Bharti Airtel (3.02 pct), Icici Bank (2.91 pct), TCS (2.60 pct), Maruti (2.57 pct), Tata Pwoer (2.44 pct), BHEL (2.06 pct), Hero Motocorp (1.83 pct) and Axis Bank (1.63 pct).
PTI

PTI

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