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Sensex tests 18200 mark, loses 222 points in days trade

July 28th, 2011

Selling in the Indian stock markets continued for the third day ever since the RBI announced a 50 basis points hike and the weak global environment. The BSE Sensex opened lowered and continued to be battered in its every small attempt to recover. The Sensex closed the day at 18209.52 down 222.73 points. Metal and Realty continued to be the sectors causing the damage followed by Oil & Gas, IT and Banks. The Nifty closed the day at 5487.75 losing 59.05 points or 1.06% in trade today.

Top Nifty losers of the day include Reliance Infra, JP Associates, IDFC, Reliance Capital, Jindal Steel amongst others. The gainers pack include ITC, ACC, Ranbaxy, Grasim and Ambuja Cements. The gaining stocks are largely because of positive quarterly numbers announced by them today.

ITC (NSE Symbol: ITC; ISIN: INE154A01025; Industry: CIGARETTES) opened the day at 198.35, has hit intraday high of 207 and low of 198.35 to close the day at 206.50 up 5.60 or 2.79%. The company has beat street expectations with its net up 24% at Rs. 1330 crores.

HUL too joined ITC in reporting some good numbers. HUL announced its Q1 net is up by 18% YoY.

Bharatiya Global Infomedia Ltd (Scrip ID: BGLOBAL, Scrip Code: 533499) had a disastrous listing today. The script opened at 84 and quickly began losing ground only to close at 27.15. There are over 11 lakh shares in the selling queue at the closing time. The market might have been feeling that the pricing is rather a very high compared to its peer, Bartronic India Ltd, which is also in a similar business.

Entry Filed under: Equity Markets, IT & ITes, Closing Bell, FMCG