Sensex Dips Anew On Sebi Measures

The much-needed correction of almost 425 points has resulted in the decline of the Bombay Stock Exchange (BSE) Sensex from its 520-week high of 6,150 points.

The Securities and Exchange Board of India's decision to put more than 150 stocks in the rolling settlement, imposition of additional margins on top 10 counters, caution issued on most technology stocks seem to have taken the toll.

The BSE Sensex closed yesterday on a weak note at 5,725.50 points, while the S&P CNX Nifty ended the day with a 8.55-point gain as it was the first day of the trading settlement.

Foreign financial institutions continued to be aggressive buyers despite several adverse factors. On February 15, they were net buyers to the tune of Rs 78.80 crore.

 

Spotlight

Infosys, on Nasdaq, ended Tuesday lower by $27 to close at $330 level, which was the price prior to its stock-split. Investors, who were holding American depositary receipts of Infosys at around $300 a fortnight ago, now have almost get double the amount.

Advances and declines ratio

Of the 139 stocks traded at the forward group on the BSE, the lossers outnumbered gainers.

There were 75 declines and only 57 gainers. Similarly, in the B1 and B2 category, there were 481 and 643 declines as compared with 384 and 528 gainers.

On the National Stock Exchange (NSE) there were 1,199 declines and only 969

gainers.

On the NSE-50 and the NSE-Midcap there were 27 and 36 gainers as compared with 22 and 14 losers, respectively. The aggregate volume on the BSE was considerably lower at Rs 3,725.73 crore against Rs 5,211.87 crore on NSE.

Intra-day movements

The Sensex opened lower at 5,782.20

points against its previous close of

5,803.19 points. On speculative buying interest, BSE touched an intra-day high of 5,864.97 points.

However, selling pressure and lower closing of most technology stocks on Nasdaq compelled the index to dip to the day's low of 5,711.75. The Sensex, however, ended the day with a loss of 77.69 points at 5,725.50 points.

The other broad indices like the BSE-100 and BSE-200, however, posted modest profits. Both the indices ended the day with a marginal gain of 43.87 and 8.97 points at 3,519.18 and 756.52, respectively.

The Bombay Stock Exchange-500 also closed with a gain of 26.98 points at 2,237.94.

However the indices on the National Stock Exchange did not show much gains despite being the first day of the settlement on the bourse.

The S&P CNX Nifty opened at 1,704.85 and touched a high of 1,742.80 points. The index finally closed the day with a marginal gain of 8.55 points at 1,711.10

The S&P CNX 500 and the S&P CNX Defty also gained 34.36 and 7.10 points to close at 1,575.75 and 1,359.55 points, respectively.

The CNX Nifty Junior ended the day with a 2.66 per cent or 122.90 point gain at 4,734.70 points.