Bears OverPower Sensex.

Sensex tumbles over 200 points 

Sensex has throughout the day remained in the clutches of sellers, with the selling intensifying in the last leg of the day’s trading session.

The BSE Sensex has ended the day at a provisional close of 8518 points, down 206 points from its previous close.

The NSE Nifty ended the day at a provisional close of 2574 points, down 70 points from its previous close.

The Sensex started the day on a weak note on the back of negative cues coming from the Dow Jones and Nasdaq Composite.

While Nasdaq lost 1.7% to 2103 points, and Dow Jones lost 1.2% to 10317 points. FIIs turned net buyers to the tune of Rs 421.60 crore , while domestic mutual funds turned net sellers of Rs 41.98 crore on October 04, 2005.

The indices on Wall Street witnessed sell-off yesterday on anticipation of further hike in interest rates due to renewed focus on inflation.

Indian ADRs were not spared either and they witnessed sharp fall.

ICICI Bank was the biggest loser, down 8.34% followed by Rediff (down 4.51%), HDFC Bank (down 4.36%), VSNL (down 3.88%) and Dr Reddy's (down 2.49%). MTNL, however, outsmarted the trend and moved higher by 2.90% taking cues from the domestic markets.

Sensex opened lower by 31 points from its previous close at 8,693 points.

The high for Sensex is at 8693.20 points while the fresh low of 8508.43 was hit in the last session of the days trading.

The Sensex oscillated a good 185 points in highly volatile trades.

The BSE Midcap index was down by 1.73% while the BSE Small cap index was down by 1.56%.

The BSE Auto index was down 2.64%, BSE Metal was down sharply by 4.15%, BSE FMCG index was down 2.68%, and BSE Bankex was down 3.46% .

Among Sensex stocks, 27 stocks closed lower while only 3 stocks ended higher.

Tata Steel was the biggest loser, down 5.15% to Rs 402.60 on volumes of 28.47 lakh shares. There are reports that the company is looking at buying a construction grade steel company in Thailand.

ICICI Bank followed with a loss of 4.88% to Rs 534.50 on volumes of 8.53 lakh shares following a sharp fall in its ADR.

ONGC lost 2.6% to Rs 1045 on volumes of 3.79 lakh shares

HDFC declined by 2.85% to Rs 1002. 15.05 lakh shares changed hands.

Dr Reddy’s was the biggest gainer, up 1.55% to Rs 923.

Ranbaxy followed with a gain of 1.15% to Rs 518.55.

HPCL was up 1.1% to Rs 325.7

Total turnover for the day amounted to Rs 3708 crore.

Advance decline ratio was negative at 1:3.5 with 588 shares moving higher while 1929 shares lower. 37 shares remained unchanged by now.

Reliance Industries topped in turnover terms with a turnover of Rs 233 crore, followed by HDFC with Rs 150.94 crore, and Bharti Televentures with Rs 148.26 crore.

Side counters like ITL Industries, Banswara Syntex, Blow Plast, Lakshmi Mills, Lakshmi Cotysn, Rishi Packers and Modern Dairy were all higher by more than 6% each.

While, State Bank of Mysore, Liberty Phosparte, Sesa Goa, Sumeet Industries, IFSL, Elgi Equipment, Vadilal Enterprises, Modison Metals, Rathi Udyog, and Pradeep Metals lost in a range of 10% to 5% each.

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