Markets in free fall after poll vault, BSE Sensex down 281 pts

Dec 14 2013, 16:35 IST
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BSE Sensex lost 280.95 points, or 1.34 per cent, over the last weekend's close to settle at 20,715.58. BSE Sensex lost 280.95 points, or 1.34 per cent, over the last weekend's close to settle at 20,715.58.
SummarySensex had opened strong at 21,416.67 and rose to an all-time peak of 21,483.74 before falling.

negative following fall on the Wall Street during the week which also put pressure on the Indian bourses.

According to analysts, the markets settled down after the initial euphoria on Monday.

"The mood in the markets was a bit sombre for the better part of the week after the euphoria on the first trading day, triggered by positive mandate given to BJP in the State elections," said Jignesh Chaudhary, Head (Research), Veracity Broking Services.

"Thereon markets traded weak for four consecutive days following a negative trend in global markets on anticipation of a near-term intervention by Fed in the bond purchase programme," he added.

"On the domestic front, a weak rupee, negative IIP numbers and high inflationary numbers did not give any credence to the markets to cheer about. Markets finally ended negative at close on Friday, almost 600 points below its high on Monday.

"There are two important data points which are scheduled to be released next week, which the markets are keenly watching. If FED during its meeting next week, proposes some more near term dates for ending the stimulus program, Indian markets are definitely going to witness some severe jolts next week.

"The technical indicators are suggesting bearish trend and the BSE Sensex is expected to trade in the range of 20,660 to 20,756 and CNX Nifty is expected to trade in the range of 6,000 to 6,150," he added.

Meanwhile, Foreign Institutional Investors (FIIs) invested a net Rs 4,595.08 crore during the week including the provisional figure of December 13.

23 stocks out of the Sensex pack ended lower while others finished higher.

Major losers from the Sensex pack were BHEL (10.65 per cent), Jindal Steel (9.16 per cent), NTPC (8.25 per cent), SBI (6.78 per cent), Tata Motors (5.60 per cent), Bharti Airtel (5.43 per cent), ICICI Bank (5.28 per cent), ONGC (5.03 per cent), L&T (4.48 per cent), Cipla (2.80 per cent), Gail India (2.68 per cent), Bajaj Auto (1.98 per cent), Sun Pharma (1.93 per cent), Tata Steel (1.73 per cent), Hero MotoCorp (1.63 per cent), Hindalco (1.56 per cent) and Tata Power (1.32 per cent).

However, Wipro rose by 4.93 per cent followed by SSLT (4.90 per cent), Infosys (1.40 per cent) and HDFC Bank (1.17 per cent).

Among the S&P BSE indices, Power dropped by 4.60 per cent, CG (4.15 per cent), CD (3.21 per cent), Bankex (2.95 per cent), Auto (2.14 per cent), Oil & Gas (1.94 per cent), Realty (1.88

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