Sensex closes below 14000; L&T, BHEL, RIL, ONGC, Satyam drag

22 September 2008

Markets ended with a marginal loss on the back of profit booking after witnessing choppiness for major part of the day. Overall it was a lacklustre session for the markets as benchmark indices were trading in a particular range. Capital Goods, Power, auto and technology stocks were witnessing selling pressure. However, FMCG, metal, few realty, pharma and banking stocks gained.

Markets had started on a positive note in line with global markets as US treasury may increase bailout package to USD 700 billion but immediately after opening both indices had turned choppy and remained volatile throughout the day.

L&T, Satyam, Reliance Industries, ONGC and BHEL were draggers to fronline indices. However, ITC, Bharti Airtel, Tata Steel, ICICI Bank, and HDFC were movers.

The Sensex has touched an intraday high of 14,221.04 and low of 13,917.48, before closing at 13,994.96, down 47.36 points or 0.34%. The Nifty swung between 4303.25 and 4202.40. It fell 22.2 points or 0.52%, to settle at 4223.05. BSE Midcap Index closed at 5,220.96, down 7.82 points or 0.15%. and small cap Index fell 21.88 points or 0.35% to 6,194.11.

Nifty futures slipped into a discount as Friday's longs book profits. Nifty PCR inched up to 0.99 from 0.96. The 4300 and 4200 put were seen active in trade. Call Unwinding was seen at 4100. 4300 Put saw open interest build-up. Nifty rollover was at 25% and marketwide rollover stood at 23%.

Among the fronliners, Satyam ended lower by 4.69%, Jaiprakash Associates -3.84%, Maruti Suzuki -3.17%, Ranbaxy Labs -2.70%, Hindalco -2.66%, Suzlon Energy -6.39%, Siemens -3.515 and L&T -2.78%.