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| | December 16, 2011 | 5:30 PM | A sudden reversal; Markets close at 25-month low
It was a bloodbath on the Dalal Street in the second half of the trade, with the Sensex closing 345 points lower and the Nifty down by 95 points | | | | | | | Major headlines | | | Indian indices
The Indian markets took an ugly turn in the afternoon session and closed the trade at a 25-month low level. Heavy selling by funds dampened the sentiments today. Deep cuts in capital goods, realty, banking, power, metal, PSU and oil & gas stocks led the downfall.
Today's heavyweight draggers were L&T, RIL, JP Associates, Sterlite, SBI, TCS, HDFC Bank, ICICI Bank and ITC. The sudden reversal was surprising given that the Reserve Bank of India held key interest rates unchanged in its mid-term policy review today, which was on expected lines. The Nifty closed below the psychological 4700-mark for the first time since November 3, 2009.
Sensex movements: The Sensex went up by 32 points at 15869 in the opening trade and maintained its positive run even after the announcement of RBI policy. Positive opening of the European indices led the index to hit an intraday high of 16069 in early afternoon trade. A sudden drastic fall in the afternoon trade on heavy selling dragged the index to new low of 15425. The Sensex plunged 345 points to close at 15491 and the Nifty shut shop at 4652, down by 95 points.
| | | INDEX PERFORMANCE |  | | | | | | | | MARKET INDICATORS | | | | | | | | | | | Apollo Hospitals | 532.05 | 11.51 | | | Bajaj Finserv | 420.00 | 3.83 | | | M&M Financial | 657.00 | 2.66 | | | | | | | Lanco Infratech | 8.83 | -11.61 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Market Outlook: US Consumer Price Index will be in focus on Friday. | Market sentiment
The market breadth stood terribly weak. Of the 2874 stocks traded on the BSE, 847 (29.47%) rose, 1884 (65.55%) fell and 143 (4.98%) remained unchanged.
Viewing volumes
Wind turbine major - Suzlon Energy was traded the most, with over 0.47 crore shares changing hands on the BSE. Following that, an integrated infrastructure development company - Lanco Infratech (0.42 crore shares), India's second largest developer - Unitech (0.39 crore shares), sugar making company - Shree Renuka Sugars (0.34 crore shares) and the biggest storage battery producing company in India - Exide Industries (0.31 crore shares). | Sectoral & stock screening
All the 13 sectoral indices closed in the negative terrain. Weak performers - BSE CG down by 4.36%, BSE Realty down by 3.34% and BSE Bankex fell by 3.16%,
Among 'A' group stocks, top three gainers - Apollo Hospitals Enterprise shot up by 11.51%, Bajaj Finserv advanced by 3.83% and Mahindra & Mahindra Financial Services surged by 2.66%. Top three losers - Essar Oil fell by 15.78%, Lanco Infratech slid by 11.61% and Unitech dropped by 8.73%. |  | | | | 
| Global signals
The European stock markets were marginally higher in thin trade on Friday (December 16, 2011), as investors cheered the continued run in better-than-expected US economic data, although euro-zone debt fears continue to worry.
The Asian stock markets ended mostly higher on Friday as strong US economic data aided relief-buying after a string of recent losses, although trading was thin amid continued concerns about the euro zone sovereign-crisis.
The US stock index futures pointed to a higher open for equities on the Wall Street on Friday | | | | Visit www.sharekhan.com to manage your newsletter subscriptions | | |     | | |  | | |  | | | To know more about our products and services, click here. | | | | | |  | Sharekhan Ltd. Regd Add: 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai - 400 042, Maharashtra. Tel: 022 - 61150000. BSE Cash-INB011073351; F&O-INF011073351; NSE - INB/INF231073330; CD - INE231073330; MCX Stock Exchange : CD - INE261073330 DP: NSDL-IN-DP-NSDL-233-2003; CDSL-IN-DP-CDSL-271-2004; PMS INP000000662; Mutual Fund: ARN 20669. | | | | | | | "This document has been prepared by Sharekhan Ltd. This Document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction.
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