Indian markets jittery, Sensex below 10000 and NIFTY below 3000

Indian markets were jittery due to the overhang on Rs.40000 crores outstanding position in derivatives markets. BSE Sensex closed below 10000 due to heavy selling and closed at 9981.11, down by 143.19 points. Sensex hit an intraday high of 10184.04 and low of 9970. Out of 30 stocks in Sensex, only 7 were gainers, while 22 were losers and 1 remained unchanged.

NSE S&P CNX NIFTY closed down by 40.1 points at 2981.5. NIFTY hit an intraday high of 3038.8 and low of 2976.7. Out of 50 stocks in NIFTY, only 9 were gainers while 41 were losers.

In NIFTY, Grasim Industries was the top loser with the stock closing down by 4.96% at Rs.1614.6. NALCO was the second major loser with the stock closing at Rs.262.95, down by 4.52%.

Other major losers include, HINDALCO (Rs.153.95, down by 3.9%), Hero Honda (Rs.889.1, down by 3.49%), IPCL (Rs.239.45, down by 3.47%), Tata Motors (Rs.773.35, down by 3.39%), Hindustan Lever (Rs.230.7, down by 3.25%), VSNL (Rs.377.5, down by 3.22%), Tata Tea (Rs.922.1, down by 3.19%), HDFC (Rs.1300.15, down by 3%).

Punjab National Bank, Tata Power, ITC, ONGC, BPCL, Dabur India, HDFC Bank, M&M, Hindustan Petroleum, Oriental Bank of Commerce, L&T, Sun Pharma closed lower by more than 2%. ABB, ICICI Bank, CIPLA, MTNL, SAIL, GAIL, Tata Steel, SBI, Reliance Energey closed lower by more than 1%.

Zee Tele was the major gainer in NIFTY with the stock closing up by 2.81% at Rs.175.35. WIPRO (Rs.499.1, up by 1.83%), Ranbaxy Laboratories (Rs.439, up by 1.62%), Jet Airways (Rs.989.05, up by 1.45%), Glaxo (Rs.1334.9, up by 1.39%) are the other major gainers in NIFTY.

Grasim Industries was the major loser in Sensex too with the stock closing at Rs.1615.85 down by Rs.81.7 (4.81%). Other major losers include HINDALCO (Rs.153.95, down by 3.84%), Hero Honda (Rs.889.6, down by 3.53%), Tata Motors (Rs.773.15, down by 3.37%), ITC (Rs.161.65, down by 3.03%), Hindustan Lever (Rs.231.55, down by 2.87%), HDFC (Rs.1300.05, down by 2.87%), ONGC (Rs.1119.8, down by 2.86%), Tata Power (Rs.487.65, down by 2.61%), L&T (Rs.2286.05, down by 2.51%), CIPLA (Rs.529.2, down by 2.14%), NTPC (Rs.121.6, down by 2.13%).

ICICI Bank, HDFC Bank, Reliance Energy, Tata Steel, SBI, ACC closed lower by more than 1%.

The major gainers in Sensex were, WIPRO (Rs.498.95, up by 1.9%), Ranbaxy Laboratories Ltd (Rs.439.75, up by 1.83%), Bajaj Auto (Rs.2401.3, up by 1.2%).

In the broader market, Jindal Drilling closed up by 14.26% at Rs.249.55, Adlabs Films (Rs.454.45, up by 10.48%), Cholamandalam Investments (Rs.231.15, up by 4.78%).

Source : Equity Bulls

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