Indian markets witnessed a massive fall on Thursday with Sensex plunging over 500 points. The broad based selling by foreign investors followed after Bernake comments, which led to sharp correction in the markets. Rate-sensitive stocks led the drop in the market.At the close, the benchmark 30-share index, BSE Sensex declined 526.41 points or 2.74% at 18,719.29 with 28 components registering drop. Meanwhile, the broad based NSE Nifty fell by 166.35 points or 2.86% at 5,655.90 with 50 components posting drop.
The US Federal Reserve chairman Bernanke on Wednesday indicated tapering of stimulus measures in near-term. Moreover, Rupee fell to a life time low near 60 against the dollar.
H D F C Bank contributed fall of 63.29 points in the Sensex. It was followed by Reliance Industries (61.58 points), I C I C I Bank (55.96 points), Housing Development Finance Corporation (45.37 points) and I T C (44.16 points).
However, Wipro contributed rise of 3.36 points in the Sensex. It was followed by Sun Pharmaceutical Industries (3.03 points), Reliance Communications (1.48 points), Hindustan Unilever (1.62 points) and Hero Motocorp (2.09 points).
Major gainers in the 30-share index were Wipro (1.28%), and Sun Pharmaceutical Industries (0.69%).
On the other hand, Jindal Steel & Power (9.62%), Tata Steel (6.25%), Hindalco Industries (6.24%), Bharat Heavy Electricals (4.99%), Sterlite Industries (India) (4.52%), and H D F C Bank (4.29%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts declining-1.93% and -1.72% respectively.
The major losers in the BSE Midcap were Allahabad Bank(4.87%), CORE Education and Technologies (4.86%), Aban Offshore (3.53%), Alstom India (2.07%) and A B G Shipyard (0.76%).
The major losers in the BSE Smallcap were Action Construction Equipment (4.49%), Adhunik Metaliks (4.32%), Reliance MediaWorks (2.88%), A2Z Maintenance & Engineering Services (2.54%) and Styrolution ABS (India) (1.07%).
Sectors in Limelight
The Realty index was at 1,526.08, down by 83.37 points or by 5.18%. The major losers were Indiabulls Real Estate (9.15%), D L F (7.17%), Housing Development and Infrastructure (6.1%), Godrej Properties (4.36%) and Anant Raj (4.35%).
The Metal index was at 7,716.50, down by 374.99 points or by 4.63%. The major losers were Jindal Steel & Power (9.62%), Hindalco Industries (6.24%), Hindustan Zinc (3.4%), Coal India (1.25%) and Bhushan Steel (1.08%).
The Bankex index was at 13,015.29, down by 539.89 points or by 3.98%. The major losers were Bank Of India(7.14%), Bank Of Baroda (6.24%), Canara Bank (5.79%), H D F C Bank (4.29%) and Federal Bank (1.98%).
The Power index was at 1,586.02, down by 53.94 points or by 3.29%. The major losers were Reliance Infrastructure (6.52%), Adani Power (6.19%), Bharat Heavy Electricals (4.99%), A B B (4.59%) and C E S C (3.8%).
Market breadth was negative with 675 advances against 1,678 declines.
Value and Volume Toppers
State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,469.72 million. It was followed by Reliance Communications (Rs. 693.35 million), Tata Motors (Rs. 687.44 million) and Reliance Industries (Rs. 471.71 million).
The volume chart was led by Reliance Communications with trades of over 5.56 million shares. It was followed by Jaiprakash Associates (3.63 million), Tata Teleservices (Maharashtra) (3.44 million) and Unitech (3.33 million).