Published on March 3, 2014
Snapping 5-day winning streak, Sensex sheds 173 points on Ukraine crisis Market Snapshot | 03-03-2014 04:21 PM Snapping 5-day winning streak, Indian indices made a marginally down start on gloomy Q3 GDP data and global risk aversion amidst Ukraine crisis. Markets continued the negative trades with Sensex slipping below 21K mark. Benchmarks ended near day’s low levels dragged by selling in Healthcare and Teck stocks. Sensex lost 173 points and Nifty ended 0.88% down. On global front, US indices traded mixed whereas Asian and European indices traded in deep red on Ukraine crisis. Ukraine's new PM has alleged Russia of declaring war on the country after Russian decision to send troops into the country. Back home, announced on Friday after market hours, India’s Gross Domestic Product (GDP) for October-December quarter of FY14 grew just by 4.7% at Rs 14.8 lakh crore as against 4.5% growth at Rs 14.1 lakh crore in the same quarter of the previous fiscal and 4.8% in previous quarter of the same fiscal. The gauge recorded sub 5% growth for the fifth consecutive quarter. (Read More) On currency front, Rupee weakened against Dollar tracking weakness in local equities and pessimistic global cues. In futures trades, INR hit an intra-day high of 62.12/USD and an intra-day low of 62.37/USD. In spot trades, INR hit an intra-day high of 61.84/USD and an intra-day low of 62.05/USD. As per RBI reference rate, INR stood at 61.86/USD. (Read More) On stock specific front, AstraZeneca Pharmaceuticals was locked by at upper circuit of 20% to hit fresh 52 week high at Rs 1110.9 on BSE as its Sweden based parent company AstraZeneca Pharmaceuticals AB underlined plans to delist company’s equity shares from the Indian stock exchanges. Railway stocks - Kalindee Rail Nirman, Titagarh Wagons, Texmaco Rail and Engineering, Hind Rectifiers and Kernex Microsystems rallied 3-12% on BSE as Government is reportedly mulling new norms for liberalizing the foreign direct investment (FDI) system in railways. T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1254 and 1527 respectively, while 134 scrips remained unmoved. The S&P BSE Sensex ended at 20946.65, down 173.47 points or 0.82%. The 30 share index touched a high and a low of 21140.00 and 20920.98 respectively. 5 stocks advanced against 25 declining ones on the benchmark index. The CNX Nifty lost 55.50 points or 0.88% to settle at 6221.45. The index touched high and low of 6277.75 and 6212.25 respectively. 10 stocks advanced against 40 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved down to 6480.74 and lost 0.30% while S&P BSE Small-cap index jumped up by 0.06% to 6449.16. The broader S&P BSE 500 index decreased to 7658.17 (down 0.67%) and CNX 500 index declined to 4816.30 (down 0.68%). The volatility as denoted by INDIA VIX gained 7.76% at 15.28 from its previous close of 14.18 on Friday. Sectors in action On the BSE Sectorial front, Consumer Durables (up 1.74%) and Oil & Gas (up 0.24%) were the top gainers. Healthcare (down 1.55%), Information Technology (down 1.25%) and Automobile (down 1.18%) were the top losers. The Angels and the Devils Reliance Industries Ltd (up 0.53%), Tata Steel Ltd (up 0.39%), Hindalco Industries Ltd (up 0.38%), ITC Ltd (up 0.35%) and Coal India Ltd (up 0.14%) were the top gainers on the Sensex. Dr. Reddys Laboratories Ltd (down 2.97%), Bharat Heavy Electricals Ltd (down 2.81%), Sun Pharmaceutical Industries Ltd (down 2.75%), Mahindra and Mahindra Ltd (down 2.22%) and Cipla Ltd (down 1.99%) were the top losers on the Sensex.