Nifty ends below 4300; infra, rate sensitives slip 2-7 per cent
30 Jun 2009
The benchmark indices retreated on the back of huge selling in rate sensitives, infrastructure, cement, metal and pharma shares. The Nifty closed below 4300 and the Sensex below 14500 levels; the broader indices also followed the same trend while the global markets were quiet in trade today.
The 30-share BSE Sensex lost 291.90 points or 1.97%, to settle at 14,493.84 and the 50-share NSE Nifty closed at 4291.10, down 2.27% or 99.85 points from previous close. Among the broader indices, the BSE Midcap Index fell 153.75 points or 2.94%, to 5,076.34 and the Smallcap Index declined 2.51% or 147.82 points, to 5,740.04.
Suzlon Energy, Idea Cellular, DLF, Tata Motors, Unitech, Jaiprakash Associates, Sterlite Industries and Reliance Infrastructure were top losers on the bourses.
Stocks, which announced their QIPs (qualified institutional placement) or raised money via QIP witnessed huge selling pressure, after seeing run-up in last few days. HDIL, Lanco Infratech, Bajaj Hindusthan, Unitech, Sobha, HCC and Shree Renuka Sugars slipped 2.5-12%.
GMR Infrastructure lost nearly 8.8%, as the company was not to proceed with QIP (qualified institutional placement), reports CNBC-TV18 quoting sources. The company had earlier cut QIP size to $100-200 million from $500 million.
All sectoral indices ended in the red; the BSE Realty Index underperformed other indices, fell 7.4%. Metal, Power, Capital Goods, Bank, Oil & Gas, Healthcare and Auto indices tumbled 2-3.4%.
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