Sensex down 300 points

Sensex down 300 points; ADAG stocks tumble

The markets weakened further, with the Nifty and the Sensex down almost 100 and 300 points respectively on all-round selling. The traders appear keen on booking some profits ahead of the weekend. Losses in index heavyweights also led to a major decline. Midcap and Smallcap indices were also under pressure. Market breadth, indicating the health of the market, was weak.

The ADAG stocks witnessed heavy sell-off - Reliance Media down by 9.24%, Reliance Capital down by 8.36%, Reliance Communications down by 8.21%, Reliance Infra down by 7.20%, Reliance Power, 6.38% and Reliance Broadcast down by 4.06%

All the sectoral indices were down, Realty down by 2.36% followed by Auto down by 1.80% and Oil & Gas declined by 1.46%.

Among the 30 Sensex stocks, 22 shares in red. Jindal Steel surged by 2.34%, followed by HUL up by 1.99% and BHEL gained by 1.37%. On the other side, Reliance Infrastructure was the major loser, down by 8.78%, Reliance Communications and Jaiprakash Associates slipped by 8.21% and 4.10% respectively.

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Markets celebrate V-day; Sensex ends 475 pts up

It was a lovely day on the Dalal Street, with the key benchmark indices climbing higher all throughout the day. The markets carried the Friday’s rally in today’s trade with strong support from the global frontiers owing to easing concerns in Egypt. The Nifty closed above the 5400-mark for the first time in the last eight sessions on account of buying in all sectors. The Sensex too closed above the 18000 mark. A marginal dip in inflation for the month of January 2011 to 8.23% versus 8.43% seen in the month of December 2010 also boosted sentiments.
The Sensex rises 474 points higher to close at 18202 and the Nifty ends 146 points up, at 5456.