Monday, 3 March, 2008

Sensex ends down 901pts, SBI drops 9%

The Sensex opened with a huge negative gap of 351 points at 17,228 on weak cues from the global markets. Selling gained momentum after the benchmark index slipped below the 17,000-mark.

The index tumbled to a low of 16,635 towards the end of the trading session. The Sensex finally settled with a loss of 901 points (5.1%) at 16,678 - the second-biggest single-day loss in absolute terms in history.

The NSE Nifty ended below its physchological 5,000-mark at 4,953 - down 271 points (5.2%).

The BSE market breadth was extremely negative - out of 2,766 stocks traded, 2,333 declined, 393 advanced and 40 were unchanged today.


SBI slumped nearly 9% to Rs 1,923. DLF and HDFC dropped around 8.5% each to Rs 715 and Rs 2,571, respectively.

BHEL tumbled 8% to Rs 2,099. Hindalco and NTPC declined 6.5% each at Rs 190 and Rs 189, respectively.

Reliance, ICICI Bank and Reliance Communications dropped around 6% each to Rs 2,305, Rs 1,024 and Rs 541, respectively.

Reliance Energy, Satyam and Larsen & Toubro slipped over 5% each to Rs 1,486, Rs 412 and Rs 3,344, respectively.

Infosys declined nearly 5% to Rs 1,472.

ITC, HDFC Bank and Bharti Airtel shed around 4.5% each at Rs 193, Rs 1,391 and Rs 791, respectively.


Cipla and Hindustan Unilever gained 2% each at Rs 212 and Rs 232, respectively. Ranbaxy added 1% to Rs 451.


Essar Oil topped the value chart with a turnover of Rs 257.70 crore followed by Reliance Petroleum (Rs 237.80 crore), OnMobile Global (Rs 235 crore), Reliance (Rs 230.50 crore) and Reliance Capital (Rs 208 crore).

Reliance Petroleum led the volume chart with trades of around 1.42 crore shares followed by Reliance Natural Resources (1.21 crore), IFCI (1.09 crore), Essar Oil (1.02 crore) and Nagarjuna Fertilisers (99.70 lakh).