The Sensex opened with a significant positive gap of 300 points at 10,931 in line with other Asian markets amid the backdrop of the US elections. World markets displayed strength this morning following a clear mandate in the US poll.
In the US, the Dow and the Nasdaq finished with gains of over 3% each yesterday. Today - the Nikkei rallied 4.5%. The Hang Seng and Shanghai Composite surged over 3% each. The Straits Times and Seoul Composite indices moved up over 2% each.
Back home, The Sensex touched a high of 10,945 in opening trades, but soon pared gains and slipped into red. Aggressive selling, especially in Reliance, forced the index slip into red. Selling pressure intensified towards the end, and the Sensex tumbled to a low of 10,052 - down 893 points. The index finally ended with a loss of 511 points at 10,120.
The BSE Oil & Gas index plunged 9.5% to 6,112. The Metal index dropped nearly 7% to 5,452.
The market breadth was negative - out of 2,638 stocks traded, 1,566 declined, 998 advanced and the rest were unchanged today.
INDEX SHAKERS...
Reliance slumped almost 13% to Rs 1,269. Tata Steel and Jaiprakash Associates plunged 10% each to Rs 216 and Rs 81, respectively.
Reliance Communications tumbled 9.5% to Rs 227. DLF and HDFC dropped nearly 9% each to Rs 265 and Rs 1,751, respectively.
Grasim, Sterlite and ACC slipped over 7% each to Rs 1,049, Rs 268 and Rs 471, respectively.
Tata Motors and Larsen & Toubro shed 6.5% each at Rs 181 and Rs 865, respectively.
Mahindra & Mahindra declined 6% to Rs 376. Bharti Airtel, Hindalco and Reliance Infrastructure were down over 4% each to Rs 685, Rs 61 and Rs 520, respectively.
...AND THE MOVERS
Wipro surged 2.7% to Rs 270. Satyam and Maruti were the only other gainers today.
MOST ACTIVE COUNTERS
Reliance topped the value chart with a turnover of Rs 552 crore followed by ICICI Bank (Rs 275.20 crore), SBI (Rs 239.50 crore), Reliance Capital (Rs 222.70 crore) and Suzlon Energy (Rs 216.30 crore).
GVK Power led the volume chart with a turnover of 3.70 crore shares followed by Suzlon Energy (3.46 crore), Reliance Natural Resources (1.76 crore), IFCI (1.30 crore) and Reliance Petroleum (1.20 crore).
