Sensex drops 151pts, Suzlon gains 35% on Day 1

The Sensex opened with a negative gap of 56 points at 8,066, but touched a high of 8,085 in early deals. Sustaind selling in noon deals saw the index slip below the 8,000-mark, and drop to a low of 7,923 - a drop of 199 points from the last close of 8,122. The Sensex finally closed with a loss of 151 points (1.9%) at 7,971.

All the sectoral indices finished with steep declines today. The BSE Metal Index dropped 3.5% (216 points) to 5,913. The BSE FMCG Index was down over 3% (45 points) at 1,405. The BSE Teck index was down 1.6% (34 points) at 2,054. The BSE Oil & Gas, Consumer Durables, Capital Goods, Auto and Healthcare indices dropped over 2% each today.

Nearly 90% of the traded stocks declined - Out of 2,461 scrips traded, 2,204 (89.56%) declined, 237 advanced and 20 were unchanged today.

ONGC dropped 3.6% (Rs 35) to Rs 947. While Reliance lost 1.3% (Rs 10) to Rs 748, SBI declined 2.5% (Rs 22) to Rs 889.

HLL slipped over 3% (Rs 6) to Rs 169, and ITC was also down over 3% (Rs 4) at Rs 121.

TCS declined 2.5% (Rs 36) to Rs 1,402. Infosys lost Rs 31 to Rs 2,500.

Dr. Reddy's dropped 4.4% (Rs 38) to Rs 817. Cipla slipped 3.5% (Rs 14) to Rs 382. Ranbaxy was down 1.9% (Rs 8) at Rs 411.

Hero Honda declined over 4% (Rs 29) to Rs 688. Bajaj dropped Rs 43 to Rs 1,731. Maruti and Tata Motors declined over 2% each today.

L&T slipped 3.6% (Rs 52) to Rs 1,381. Grasim was down Rs 23 at Rs 1,148. BHEL declined Rs 14 to Rs 1,158. Tata Steel, Bharti and Hindalco closed with losses of over 3% each today.

Satyam was up Rs 5 at Rs 557. ACC and ICICI Bank also finished with gains.

Crompton Greaves moved up 4% (Rs 23) to Rs 641. Cummins was up 2% at Rs 146. Aurobindo Pharma, Dabur, Godrej Consumer, Ramco and i-flex closed with gains.

Solvay Pharma zoomed 8% (Rs 41) to Rs 551. DSP Merrill Lynch, NIIT and Bluestar moved up 3-6% each today.

Bombay Dyeing tanked 12% (Rs 36) to Rs 271. Jindal Stainless was down 8% at Rs 124. HMT, IndusInd Bank, Escorts, Cadila and Allahabad also declined.

Suzlon Energy was listed at 640 as against the offer price of Rs 510. The stock moved betwen a high of Rs 697 and low of Rs 565 before finally closing at Rs 690 - a gain of 35% on the first day of trading. The counter logged a huge volume of 1.36 crore shares.

Suzlon was the most active counter with a turnover of Rs 897 crore followed by Reliance (Rs 298 crore), SBI (Rs 223 crore), Satyam (Rs 169 crore) and Infosys (Rs 120 crore).