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Sensex, Nifty fall 1%; metals, capital goods, banks drag

14:00

The News International Team

03:30pm Market Closing

The market extended its southward journey for the second trading session of the October month with the Sensex falling 296.02 points or 1.11 percent to 26271.97 on Tuesday.

The Nifty closed way below the 7900, down 93.15 points or 1.17 percent to 7852.40. About 1120 shares advanced while 1762 shares declined on the BSE.

Hindalco Industries, Sesa Sterlite, Cipla, Dr Reddy’s Labs, HDFC, DLF, Jindal Steel and Cairn India were top losers, falling 3-6 percent while NTPC, Gail India and Power Grid bucked the trend, up 1-1.5 percent followed by Tata Motors, Wipro and Tata Power with marginal gains.

02:55pm Market Check

Equity benchmarks extended losses in last hour of trade with the Sensex falling 277.62 points or 1.04 percent to 26290.37 and the Nifty shedding 84.10 points or 1.06 percent to 7861.45.

Decliners beat advancers on the Bombay Stock Exchange by a ratio of 1718 to 1071.

HDFC, Dr Reddy’s Labs, Sun Pharma, Hindalco Industries, Sesa Sterlite, DLF, Cairn India and Jindal Steel topped the selling list, down 3-6 percent.

02:30pm Interview

KK Mohanty, managing director, Gammon Infrastructure says the company has pared the promoter share by 15 percent to 65 percent.

Speaking to CNBC-TV18, Mohanty says the company is not into corporate debt restructuring (CDR)  and has more than 6 operational projects.

Furthermore, he adds that while the company’s Nasik and Mumbai tollway has seen a dip in traffic, the company expects to log in a revenue of Rs 1000 cr.

02:00pm Market Check

The market slipped further with the Sensex losing 211.53 points to 26356.46 and the Nifty falling 63.55 points to 7882 weighed down by capital goods, healthcare, metals, and banking and financials stocks.

About 1163 shares have advanced, 1560 shares declined, and 115 shares are unchanged.

Shares of HDFC, L&T, Sun Pharma, M&M, Sesa Sterlite, Dr Reddy’s Labs and Hindalco Industries lost 2-4 percent while  Tata Motors and NTPC gained 1-2 percent.

In the midcap space, Apollo Tyres, Hathway Cable, Shipping Corporation, Sobha Developer and Religare Enterprises rallied 4-7 percent while Den Networks, Trinity Trade, Petronet LNG, Gujarat State Petronet and Blue Star lost 4-6 percent.

Among smallcaps, Cera Sanitary, Shree Global, Heidelberg Cement, OCL India and Sundram rose 6-16 percent whereas ESS DEE, Oscar Investment, Venkys, Bodal Chemicals and Orissa Sponge slipped 5-6 percent.

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