END SESSION:09-01-09

 

The benchmark indices continued the downtrend for the second consecutive day and ended sharply lower amid high volatility. Shares of oil exploration, capital goods, metal, telecom, and select power and banking companies witnessed a steep fall. Sell-off was also seen in broader indices. However, shares of major technology, FMCG, oil marketing and select auto companies as well as NTPC remained on the higher side.

 

The culprit, no wonder, was Satyam again, which saw a sharp cut today as well. The stock touched a new 52-week low of 6.30 on the NSE and lost around 41%, to close at Rs 23.75. It traded with volumes of 215,407,478 shares, an increase of 149.28% compared to its five-day average of 86,411,144 shares. Satyam traded on on the BSE Sensex and NSE Nifty for last time on Friday — it was announced that Satyam would be replaced by Sun Pharma and Reliance Capital respective on the two indices.

 

The 50-share NSE Nifty went closer to the 2,800 level and hit a low of 2810.25 during the day. It shut shop at 2,873, down 1.62% or 47.40 points from the previous close. The 30-share BSE Sensex was down more than 300 points during the day and touched a low of 9,250.82. It was down by 180.41 points or 1.88% to settle at 9,406.47.

 

Volumes were better in today's trade as well. Total traded turnover was at Rs 64,891.47 crore. This includes Rs 12,984.81 crore from NSE Cash segment Rs 47,709.01 crore from NSE F&O and the balance Rs 4,197.65 crore from BSE Cash segment.

 

On the global front, Asian markets ended mixed. Straits Times fell 1.18% and Kospi down 2.05%. Taiwan, Nikkei and Hang Seng lost 0.27-0.73%. However, Shanghai rose 1.42% and Jakarta went up 1%.

 

European markets were trading marginally lower. FTSE went down 26.5 points to 4,478. CAC was down 13 points to 3,311 and DAX lost 20 points at 4,859, at 3:42 hours IST. 

 

Among the US futures, the Dow Jones Futures was down 31 points at 8,665 and Nasdaq fell 10.5 points to 1,239.

 

 

 turtle run to do job quicker

Disclosures/Disclaimers:The Calls/materials contained/made herein are for information purpose and are not recommendation to any person to buy or sell any securities. The information is derived from sources, that are deemed to be reliable but its accuracy and completeness are not guaranteed. The author does not accept any liability for the use of this column. Readers of this column who buy or sell securities based on the information in this column are solely responsible for their action. We may or may not have any position in given stock. If any other entity, individual or service provider also giving the same script and recommendation than we are not responsible for that. By continuing to read or referring to material contained, you have read and agreed to the disclosure & disclaimers mentioned & published.