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Global blood bath hurts Indian markets

August 5th, 2011

The 512 points lost on Dow Jones yesterday has created panic ripples across the world. Almost all global economies had one of their worst trading sessions today with the losses on indices appearing to be not less than 2 to 3%. Nikkei lost 359.3 points, Hang Seng lost 938.6 points, FTSE lost 114.35 points, DAX lost 103.58 points and Indian markets too closed with some red numbers.

The Sensex closed the day 387.31 points lower at 17305.87. At one point of time, the Sensex is down over 500+ points. The Nifty managed to close the day above the critical 5200 levels at 5211.25 losing 120.55 points today.

No sector is spared from the selling spree today. Auto, Banks, Metals, Capital Goods, Consumer Durables, Oil & Gas, almost all sectors saw heavy offloading of stocks, probably by FIIs.

Top losers of the day are Reliance Infra, Reliance Communications (both down over 7%), Cairn India, Sterlite Industries (both down over 6%), HCL Tech, Sesa Goa, Reliance Power (all three down by over 5% each) amongst others. Surprisingly few stocks managed to close in the green today. BPCL is up 1.99%, ONGC is up 1.41%, Hindalco and Cipla are marginally in the green.

Cipla (BSE: 500087 | NSE: CIPLA | ISIN: INE059A01026) announced its quarterly numbers today. Net Sales are at Rs. 155033 lacs for quarter ending on 30 June 2011 against Rs. 142738 lacs for the quarter ending June 30, 2010. Net Profit is at Rs. 25334 lacs for the quarter vs Rs. 25742 lacs for the same quarter last year.

Ranbaxy Laboratories (BSE: 500359 | NSE: RANBAXY | ISIN: INE015A01028) too announced its numbers today. Its Q2 net profit is down 25% at Rs 243 cr.

Jain Irrigation (BSE: 500219 | NSE: JISLJALEQS | ISIN: INE175A01038) reports its Q1 net profit is up 32% at Rs 82 cr.

Entry Filed under: Equity Markets, Pharmaceuticals