Sensex unloads 230
Mumbai: The benchmark index crashed by a whopping 229.94 points at the Bombay Stock Exchange, wiping out Rs. 54,550 crores of the overall BSE market capitalisation. The day's close of 5,325.9 points represents a fall of nearly nine per cent compared to the Sensex's month ago level. The NSE's broader 50-share S&P CNX Nifty index was down about 3.9 per cent, closing Tuesday's session a notch below the 1,700 points mark.

Market Gainers
Britannia Industries

Market Losers
Hindustan Petroleum Corporation, Tata Steel, Tata Power, Tata Motors, HDFC, ITC, Hero Honda, Larsen & Toubro, ICICI Bank, Reliance, ONGC, Satyam Computers, HDFC Bank, Ranbaxy Laboratories, Grasim Industries, Hindalco, Bajaj Auto, Reliance Energy, Bharti TeleVentures, BHEL, Dr Reddy's Laboratories, Cipla, ACC, SBI, Canara Bank, IDBI, Union Bank, Indian Oil Corporation, GAIL, BPCL, Steel Authority of India, Shipping Corporation, National Fertilisers, Punjab National Bank, Oriental Bank, Bank of Baroda

Market Counters
BSE 30
(Figures in Rupees)
ACC at 267.55 down -7.25
Bajaj Auto at 915.55 down -20.80
Bharti Televentures at 150.90 down -7.35
BHEL at 570.65 down -25.80
Cipla at 255.70 down -6.96
Dr Reddy at 839.90 down -40.25
GACL at 317.25 down -14.60
Grasim at 1,123.45 down -38.75
HDFC at 605.00 down -42.75
HDFC Bank at 371.65 down -13.05
Hero Honda at 460.05 down -24.70
Hindalco at 992.50 down -38.00
HLL at 140.90 down -1.60
HPCL at 418.90 down -40.75
ICICI Bank at 283.15 down -17.15
Infosys at 5,054.85 down -71.55
ITC at 936.55 down -65.75
L&T at 528.00 down -29.55
MTNL at 142.55 down -7.30
ONGC at 827.25 down -18.20
Ranbaxy at 1,000.45 down -27.25
Reliance at 489.75 down -29.40
Satyam at 296.75 down -7.95
SBI at 617.25 down -11.65
Tata Motors at 428.85 down -29.30
Tata Power at 345.90 down -27.15
TISCO at 307.30 down -24.95
Wipro at 1,508.15 down -27.80
Zee Tele at 127.05 down -1.60

Others
Pantaloon Retail at 346.25 down 4.98 per cent
Bharat Forge down 5.3 per cent to 741
Ramakrishna Forging down 15.72 per cent, at 36.20
IOC down 9.88 per cent at 461.45
GAIL down 7.04 per cent at 201.30
BPCL down 8.33 per cent at 413.40
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FIIs Monday sell off at Rs.1, 228.20 crore
Mumbai: FIIs were net sellers to the tune of Rs 595 crore on Monday in the equity market, the highest in a single day in 2004, in line with heavy selling by them in various other emerging markets.
According to SEBI data, FIIs on Monday bought shares worth Rs 633 crore and sold Rs 1,228.20 crore, a net sales of Rs 595.20 crore. The previous highest net selling by them in a single day this year was on January 30 when they were net seller to the tune of Rs 436.2 crore.
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Reliance MF launches pharmaceutical sector fund
Kolkata: Reliance MF has launched a scheme dedicated to the pharmaceutical sector. The pharma fund, for which investors in the power fund have been approached as well, will close for subscription on May 26. Reliance MF has also sought SEBI's approval for an index fund, which will offer two plans - based on Nifty and Sensex - to unit holders. Each plan will provide separate growth and dividend options. Reliance Index Fund will be the MF's first passively managed equity product.
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Benchmark launches first split capital fund
Mumbai: Benchmark Asset Management Company has launched India's first split capital fund. The fund seeks to distribute credit risk between two classes of units to deliver different risk-return combinations, as per the requirements of the investors. This is a five-year close-ended fund that would invest in 10-12 different corporate bonds. The average maturity of these would be less than the scheme period.

The fund would have two classes of units. Class A unit's form will be rated AAA (SO) by Fitch and this will have a predetermined maturity value. The maturity value will be determined on the allotment date itself. Class B units will be NAV-linked and rendered suitable for high risk-high return debt investors. The initial public offer for the fund remains open from May 12-26. Investors can apply for Class A or Class B units or both. The units would be listed on the NSE's capital market segment. The minimum investment amount is Rs 1 lakh per class.
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