Sensex ends 405 points down on FII selling; RIL, L&T fall 4%

Shares were massacred mercilessly on D-street as the BSE Sensex got an over 450 point whipping on incessant FII outflows. It was the biggest one day fall since February 27.

The 30-share BSE benchmark dropped 405.24 points or 2.30%, to close at 17,196.47, weighed down by 28 components. Meanwhile, the 50-share NSE benchmark slipped 136.50 points or 2.54% to 5,228.45 after a spike in global risk aversion triggered fears of foreign selling at a time of waning confidence in the struggling government.

Weaker-than-expected euro zone PMI was a trigger to pronounced selling in Indian stock markets and the rupee in the afternoon, in a day already marked by concerns about a government auditor report that said the government may have sold coal deposits too cheaply.

Also on Thursday, the government announced a sweeping rollback of a rail fare hike, adding to concerns about the ruling coalition's standing.

The BSE Realty, Power, Bank, Metal, Capital Goods and Oil & Gas indices were down 3-4%.

Oil & gas producer and India's most valued stock Reliance Industries plummeted over 4%. Engineering and construction major Larsen & Toubro was down 3.8% and state-run Bharat Heavy Electricals tanked more than 3%.

State Bank of India and ICICI Bank, country's largest lenders tumbled 3.3% and 3.8%, respectively while rival HDFC Bank slipped 2.5%.

Infosys, India's No. 2 software services exporter declined 1.4% and telecom major Bharti Airtel dropped 2.6%.

Shares of DLF and Jindal Steel topped the selling list, falling over 5% and 7%, respectively. However, Coal India and Hero Motocorp outperformed others, gaining 2.4% and 0.5%.

About four shares declined for every share rising on the National Stock Exchange. The BSE Midcap and Smallcap indices were down 1.7-2.3%.

Total traded volume was more than Rs 2.28 lakh crore today, which was quite high as compared to Rs 1.78 lakh crore on Wednesday.

Shares of gold loan financing companies hit quite badly after the Reserve Bank of India tightened norms for gold loan NBFCs.  Manappuram Finance plunged 18.5% and Muthoot Finance was down 10%.

European markets like France's CAC and Germany's DAX dropped nearly 1.5% while Britain's FTSE was down 0.9% after German's Manufacturing PMI fell to four-month low at 48.1 in March.

Robert Parker, vice chairman of Credit Suisse Asset Management feels global investors specially are taking some profits and reducing risk.

"Weak Purchasing Managers Indices (PMI) gives very clear picture of moderate growth in Germany, but recessionary trends elsewhere in the euro zone," he reasoned.

Even HSBC's China Flash purchasing manager's Index declined at 48.1 in March - lowest level since November - as against 49.6 in February, due to slowdown in new orders. Shanghai was down just 0.1%, which recovered in late trade.

At 14:56 hours IST: Sensex falls 2% on FII outflow; rupee breaks 51/$

The BSE Sensex shed all its yesterday's gains, falling more than 2% due to broadbased selling. The rupee at more than two-month low, breaching 51 a dollar level suggests that foreign institutional investors pulled out some money by selling Indian equities. European markets too were down over a percent post weak Germany and China data.

The BSE Benchmark tanked 352 points to 17,250.08 and the NSE benchmark was down 118 points to 5,246.90. The Indian rupee slipped by 44 paise to 51.10 a dollar.

Every sector was in bear grip - the BSE Realty Index always get butchered first during such fall, losing over 4%. Capital Goods, Power, Metal, Bank and Oil & Gas indices were down 2.7-3%.

Jindal Steel was the biggest loser among largecaps, falling 8%. India's most valued stock Reliance Industries crashed 4% to Rs 737.

Engineering and construction major Larsen & Toubro and country's largest private sector lender ICICI Bank were down 3.5%.

Shares of Infosys, HDFC Bank, State Bank of India, ITC, Tata Motors, Bharti Airtel and BHEL tanked 1-2.5% while Coal India and Hero Motocorp were only gainers, rising 2.4% and 0.55%, respectively.

The broader markets too followed the same trend - the BSE Midcap Index was down 2% and Smallcap down 1.4%.

At 14:18 hours IST: Sensex sheds over 200 pts, Nifty below 5300; CIL up 3%

The BSE Sensex shed more than 200 points and the NSE Nifty slipped below the 5300 level as European markets extended losses. German's Manufacturing PMI fell to four-month low at 48.1 in March. France's CAC and Germany's DAX fell over 1%, while Britain's FTSE was down 0.8%. The Dow Jones futures shed 63 points.

The BSE benchmark slipped 200.50 points to 17,401.21, weighed down by 24 stocks. Meanwhile, the NSE benchmark tanked 69 points to 5,295.80. The Indian rupee declined 32 paise to 50.98 a dollar.

Country's largest lenders State Bank of India and ICICI Bank were down 1.5-2% while rival HDFC Bank went down 0.5%.

Index heavyweight and oil & gas producer Reliance Industries tumbled over 3% to Rs 744.35. Capital goods majors Larsen & Toubro and BHEL fell 2-2.7%.

Auto stocks too were under pressure - Tata Motors, M&M, Bajaj Auto and Maruti Suzuki lost 1-2%. Shares of Infosys and Bharti Airtel were down over 1%.

Jindal Steel topped the selling list today, falling nearly 7% while Coal India rallied over 3%.

The market breadth weakened further; about 404 shares advanced while 1004 shares declined on the National Stock Exchange.

At 13:43 hours IST: Sensex slips; Europe drops too, rupee moves towards 51/$

The BSE Sensex continued to trade with moderate losses due to weak opening of European markets and further depreciation in the rupee.

The BSE benchmark was down 66.5 points at 17,535.19 and the NSE benchmark dropped 27.5 points to 5,337.50. European markets like France's CAC, Germany's DAX and Britain's FTSE declined 0.4% each. The Indian rupee dropped by 30 paise to 50.95 a dollar.

India's most valued stock and oil & gas producer Reliance Industries fell over 2%. Even ICICI Bank, country's largest private sector lender slipped 1.7% while rival SBI was down 0.25% and HDFC Bank was up just 0.2%.

Other index heavyweights Infosys, Larsen & Toubro, BHEL and Bharti Airtel were down 0.5-1%.

Shares of all JSW group companies were under pressure. Jindal Steel tanked 6%; JSW Steel tumbled 3.4% and JSW Energy was down nearly 5%.

However, Coal India, country's largest coal mining company rallied 3.7%. ITC, TCS, HDFC, ONGC, HUL and Hero Motocorp moved up 0.5-1%.

In the second line shares, Zydus Wellness, Vaarad Ventures, Sunteck Realty, Blue Star and Ashok Leyland surged 4-10% while Shree Renuka, KSK Energy Ventures and India Infoline tanked 4-5%.

Gold loan financing company Manappuram Finance plunged 15.89% and Muthoot Finance was down 9% after the Reserve Bank of India has tightened norms for gold loan NBFCs

Declining shares outnumbered advancing by 852 to 554 on the National Stock Exchange.

At 12:30 hours IST: Sensex falls amid choppy trade; RIL, ICICI Bank down

The BSE Sensex fell moderately in the afternoon trade, weighed down by index heavyweights Reliance Industries, L&T, Infosys and Bharti Airtel. Even SBI and ICICI Bank were under pressure. The Indian rupee too depreciated to 50.90 a dollar, down by 24 paise.

The market was worried due to roll back of the rail fare hike by new Railway Minister Mukul Roy, though it was on expected lines. Earlier Railway Minister Dinesh Trivedi had hiked rail fares by 9-16%, which was opposed by his Trinamool Congress party leader and Kolkatta chief minister Mamata Banerjee.

The BSE benchmark was down 81 points at 17,520.81 and the NSE benchmark fell 32 points to 5,332.50. The broader markets too were under pressure.

Oil & gas producer Reliance Industries lost 1.8%. Country's largest lenders State Bank of India and ICICI Bank were down 0.56% and 1.35%, respectively.

Capital goods majors Bharat Heavy Electricals and Larsen & Toubro dropped nearly 1%. Infosys, India's No. 2 software services exporter declined 0.7% and telecom player Bharti Airtel was down 1.4%.

Shares of Jindal Steel crashed 6.5% while Tata Steel slipped over 1%.

However, ITC, HDFC Bank, HDFC, ONGC, HUL, Hero Motocorp and Sun Pharma gained 0.5-1%. Coal India outperformed others, rising 3%.

The market breadth turned in favour of declines; about 592 shares advanced while 779 shares declined on the NSE.

At 11 hours IST: Sensex volatile; Muthoot, Manappuram fall sharply

The BSE Sensex was lacklustre since the opening due to lack of cues globally and locally. The index was trying to stay higher, but the fall in Infosys, ICICI Bank and Bharti Airtel has limited the upside. Gold financing companies Muthoot Finance and Manappuram Finance were down 10.5% and 14.5% amid heavy volumes, respectively post the Reserve Bank of India has tightened norms for gold loan NBFCs.

The BSE benchmark gained 51 points at 17,652.45 and the NSE benchmark was up 10 points at 5,375.15.

Leading cigarette manufacturer ITC rose 1.44% and country's largest commercial vehicle maker Tata Motors climbed 1.8%.

Among banks, State Bank of India and HDFC Bank were up 0.75% each while rival ICICI Bank fell 0.2%.

State-run capital goods major Bharat Heavy Electricals was up 1%, and engineering and construction major Larsen & Toubro went up 0.7%.

Oil & gas producer ONGC moved up 1% while rival Reliance Industries was flat.

Coal India, country's largest coal mining company gained over 2% while Jindal Steel retained its top position among selling list, falling more than 5%.

Most active shares on exchanges were SBI, Tata Steel, HDIL, Vikas WSP, Tata Motors and L&T.

The market breadth strengthened further; advancing shares outnumbered declining by 1264 to 931 on the BSE.

Shanghai fell 0.4% after HSBC's China Flash purchasing manager's Index declined at 48.1 in March - lowest level since November - as against 49.6 in February, due to slowdown in new orders. Among other Asian markets, Taiwan Weighted was up 0.8% while Hang Seng, Nikkei and Kospi were flat.

At 10 hours IST: Sensex choppy; rupee falls to 50.87/USD

The BSE Sensex continued to hover around its previous closing value. On the other hand, the Indian rupee depreciated by 21 paise to 50.87 a dollar. Shares of Jindal Steel plunged nearly 6%, topping the selling list. Tata Steel was down nearly 1% while Hindalco, Sterlite Industries, Coal India and Sesa Goa gained 1-2%.

The BSE benchmark was up 13 points at 17,614.81 and the NSE benchmark rose nearly a percent to 5,365.80.

Country's largest software services exporters TCS and Infosys fell 0.7-1% while rival Wipro was down 0.4% on profit booking.

Index heavyweights Reliance Industries, Larsen & Toubro and Bharti Airtel dropped 0.4% each whereas ONGC moved up 0.5%.

Cigarette major ITC rose 0.8% and FMCG major Hindustan Unilever rose 0.4%.

Tata Motors, India's largest commercial vehicle maker and Hero Motocorp, top two-wheeler maker rallied over 1% while Maruti and Bajaj Auto fell 0.5-1%.

India's largest lender State Bank of India climbed 0.5% whereas rival HDFC Bank and ICICI Bank were flat.

The market breadth was marginally positive; about 637 shares advanced while 521 shares declined on the BSE. The BSE Midcap and Smallcap indices were up 0.4% each.

At 9:19 hours IST: Sensex opens flat; JSPL down 4%, Sun Pharma up 1%

The BSE Sensex fell moderately in early trade on profit booking after yesterday's 285 points rally, but it was hovering around its previous closing value. Technology stocks like TCS and Infosys were down nearly 1%.

The BSE Sensex was up 7 points at 17,609.02 while the NSE Nifty fell   1 point to 5,363.80. Asian markets too were quiet.

Among frontliners, JSPL (down 4%), Power Grid, Infosys, L&T, TCS, HDFC Bank, Tata Steel, Bharti, Maruti, Cipla and Bajaj Auto were under pressure.

However, PNB, Axis Bank, Sun Pharma, ACC, Ambuja Cements, ITC, Tata Motors, SBI, ICICI Bank, ONGC, Hero Motocorp, BHEL, Hindalco, HUL and BPCL were trading higher.

The CNX Midcap Index was flat while the market breadth was neutral.

In the second line shares, Muthoot Finance plunged 18% and Manappuram Finance crashed 14% after the Reserve Bank of India tightened norms for gold loan NBFCs.

GMR Infrastructure and Indiabulls Real dropped 1-2% on profit booking.

Mahindra Satyam and Tech Mahindra were seeing mild profit booking after a rally in previous two sessions on merger news.

However, 3i Infotech gained 6% post CDR Empowered Group approved CDR proposal. The stock had rallied more than 10% yesterday.

Zee Entertainment rose 3%. Essar Ports, Arvind and Liberty Shoes were up 1-2%. Inox Leisure shot up 4%.