The domestic market fell drastically to close in deep red by reacting badly to inflation data, which stood at 11.89% for the week ended June 28 as against 11.63% in earlier week. Also, the IIP number for the month of May, which declined to 3.8% as against 10.6% in same period of last year adds to the negative sentiment. Even the better than expected quarterly results of the IT bellwether "Infosys" fell to give support to the market. Indian market opened on upbeat note tracking mixed cues from the global markets but soon lost ground and slipped into negative territory. Though the market showed some sign of recovery in the mid session but fell to sustain and kept on drifting downwards due to heavy selling pressures. Market witnessed some volatility during the session. From the sectoral front, all indices closed in red and major selling witnessed among the frontline indices mainly the Capital Goods, IT, Metal, Power and Oil & Gas stocks. IT index closed with deep cut of more than 6% and Capital Goods and Power indices slipped by more than 4%. The market breadth was negative as 995 stocks closed in green while 1665 stocks closed in red and 61 stocks remained unchanged.
The BSE Sensex closed lower by 456.39 points at 13,469.85 and NSE Nifty ended down by 113.20 points at 4,049. The BSE Mid Caps and Small Cap closed negative with loss of 106.86 points and 95.58 points 5,365.64 and 6,713.66 respectively. The BSE Sensex touched intraday high 14,066.36 of and intraday low of 13,351.34.
Infosys has announced its first quarter results today. The Company has reported a consolidated net profit of Rs130200 lacs with a growth of 4.2% in the quarter ended June 2008 as against Rs124900 lacs in the previous quarter same year. The standalone Net Profit was at Rs. 126200 lacs for the quarter ended on June 2008 against Rs. 118200 lacs for the quarter ended on March 2008.
Losers from the BSE are JP Associates (8.48%), TCS Ltd (8.03%), Satyam Comp (7.19%), Infosys Tech (7.18%), L&T Ltd (6.89%), Reliance Infra (6.28%), HDFC (5.52%), Tata steel (4.69%), Wipro Ltd (4.34%) and ICICI Bank Ltd (4.09%).
The Capital Goods index closed down by 565.67 points at 10,774.38. Lossers are L&T Ltd (6.89%), Punj Lloyd (6.25%), Alstom Proje (6.13%), ABB Ltd (5.80%), BEML Ltd (4.86%) and Elecon Eng C (4.21%).
The IT Index closed lower by 281.77 points at 3,907.63. Lossers are I-Flex (9.10%) along with Satyam Computer (7.19%), Infosys Tech (7.18), Tech MAhindra (6.87%), Rolta India (6.80%), Moser Bayer (4.55%) and Wipro Ltd Ltd (4.34%).
The Metal index closed down by 247.46 points at 12,711.71. Lossers are Ispat Industries (6.47%), Tata Steel (4.69%), JSW SL (3.51%), Jindal Steel (2.67%), Steel Authority (2.36%) and Jindal Stain (2.35%).
The Oil & Gas index ended down by 193.31 points at 8,886.28. As BPCL (8.06%), Essar Oil Ltd (5.73%), IOC (4.59%), Reliance Natural Resources (3.76%), ONGC (3.65%) and HPCL (2.93%) closed in negative territory.
The Power index lost 104.72 points to close at 2,344.06. Major lossers are GMR Infrastructure (7.17%), Tata Power (6.29%), Reliance Infra (6.28%), ABB Ltd (5.80%), Reliance Power (5.16%) and GVK Power Inf (5.11%).
The BSE Sensex closed lower by 456.39 points at 13,469.85 and NSE Nifty ended down by 113.20 points at 4,049. The BSE Mid Caps and Small Cap closed negative with loss of 106.86 points and 95.58 points 5,365.64 and 6,713.66 respectively. The BSE Sensex touched intraday high 14,066.36 of and intraday low of 13,351.34.
Infosys has announced its first quarter results today. The Company has reported a consolidated net profit of Rs130200 lacs with a growth of 4.2% in the quarter ended June 2008 as against Rs124900 lacs in the previous quarter same year. The standalone Net Profit was at Rs. 126200 lacs for the quarter ended on June 2008 against Rs. 118200 lacs for the quarter ended on March 2008.
Losers from the BSE are JP Associates (8.48%), TCS Ltd (8.03%), Satyam Comp (7.19%), Infosys Tech (7.18%), L&T Ltd (6.89%), Reliance Infra (6.28%), HDFC (5.52%), Tata steel (4.69%), Wipro Ltd (4.34%) and ICICI Bank Ltd (4.09%).
The Capital Goods index closed down by 565.67 points at 10,774.38. Lossers are L&T Ltd (6.89%), Punj Lloyd (6.25%), Alstom Proje (6.13%), ABB Ltd (5.80%), BEML Ltd (4.86%) and Elecon Eng C (4.21%).
The IT Index closed lower by 281.77 points at 3,907.63. Lossers are I-Flex (9.10%) along with Satyam Computer (7.19%), Infosys Tech (7.18), Tech MAhindra (6.87%), Rolta India (6.80%), Moser Bayer (4.55%) and Wipro Ltd Ltd (4.34%).
The Metal index closed down by 247.46 points at 12,711.71. Lossers are Ispat Industries (6.47%), Tata Steel (4.69%), JSW SL (3.51%), Jindal Steel (2.67%), Steel Authority (2.36%) and Jindal Stain (2.35%).
The Oil & Gas index ended down by 193.31 points at 8,886.28. As BPCL (8.06%), Essar Oil Ltd (5.73%), IOC (4.59%), Reliance Natural Resources (3.76%), ONGC (3.65%) and HPCL (2.93%) closed in negative territory.
The Power index lost 104.72 points to close at 2,344.06. Major lossers are GMR Infrastructure (7.17%), Tata Power (6.29%), Reliance Infra (6.28%), ABB Ltd (5.80%), Reliance Power (5.16%) and GVK Power Inf (5.11%).
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