GetPaidIndia.com

Bad day for the markets; Sensex slips 616.73 pts - April 2, 2007

April 2nd, 2007

One of the red day in the Indian stock markets as indices, initiated by the news of CRR hike by RBI, went on a massive selling spree without sparing any sector.

Sensex opened weak at 12,811.93 and saw selling pressure from right then. It touched an intraday high at 12,811.93 and intraday low at 12,425.52 before closing at 12,455.37 (-616.73 pts; -4.72%). The other smaller indices closely followed the bigger indices. Midcap index lost -174.83 pts (-3.25%) while Small Cap index lost -176.45 pts (-2.73%). BSE 100, BSE 200 and BSE 500 all lost over 4%

Looking at sectors, Auto lost the most. The BSE Auto Index lost 299 points (-6.1%). Bank, Capital Goods followed with over 5% losses.

The Nifty closed the day at 3633.60 (-4.92%). Bank Nifty lost 6.57% while CNX IT lost 4.64%.

All the 12 stocks on Bank Nifty closed in red. Corporation Bank, OBC and PNB lost over 10% in a single day. Bank of India lost 8% while Syndicate Bank closed the day poor by 7.9%. Nifty 50 losers apart from the Banking stocks are Maruti, M&M (-8%), Tata Motors, Wipro, Hero Honda (-7%), HCL Tech and ONGC (both -6%)

GAIL got the attention today. The script opened at 264.90 and last traded at 266.95 (+0.91%)

Hexaware is the lone stock to close in positive on CNX IT today. The script closed up 1.51%. Top CNX IT losers of the day include Wipro (-7%), HCL Tech (-6%), Tata Elxsi, Polaris (both -5%) and Subex (-4.9%)

One surprise sector today is the Sugar stocks. Balrampur Chinni Mills closed at 67.05 while Dwarakesh Sugar closed at 78.15

An unfortunate day for new listings

Themis Medicare Limited opened at 141.50 and closed at 128.30 (-9.33%)
Techno Electric And Engineering Company Limited opened at 103.65 and closed at 100.95 (-2.60%)
K S Oils Limited
JMT Auto Limited opened at 94.00 and closed at 90.35 (-3.88%)

Entry Filed under: Equity Markets, Closing Bell