Mkts. end in Red after 5-days successive rallies.

24th July 2008 4.45 P.M

Markets halt their five days winning streak and closed in red. Prior to todays trading session Sensex has gained more than 2300 points in last five trading days. Selling pressure increased after Europe opened on weak note. IT, metal, power, capital goods, bank and FMCG indices were closed negative. However, oil & gas and realty stocks witness buying interest.

Markets are awaiting inflation numbers and first quarter numbers Index heavyweight Reliance Industries. Inflation numbers for the week ended July 12 is likely to be more than 12% as against 11.91% in earlier week. According to CNBC-TV18, Reliance Industries' net sales are seen up 40% to Rs 41342 crore versus Rs 29524 crore. Its net profit is expected to go up 14.1% to Rs 4142 crore versus Rs 3630 crore.

The Sensex was down 165.27 points or 1.11% at 14777.01. It has touched an intraday high of Rs 15,130.09 and an intra day low of Rs 14,608.05. The Nifty was down 43.25 points or 0.97% at 4433.55. It has touched an intraday high of Rs 4539.45 and an intra day low of Rs 4385.85.

Markets breadth was negative, about 1388 shares have advanced, 1562 shares declined, and 201 shares are unchanged.Top losers on the bourses were TCS at Rs 802.75 down 6.49%, Tata Steel at Rs 631 down 5.4%, ACC at Rs 560.75 down 5.13% and Tata Power at Rs 1,047.75 down 6.82%.

However, top gainers on the bourses were NALCO at Rs 422.45 up 6.75%, Zee Entertain at Rs 220.60 up 5.12%, ONGC at Rs 1,027.25 up 3.25%, DLF at Rs 507.20 up 2.35% and Reliance at Rs 2,306.55 up 1.81%.

The BSE midcap and smallcap indices closed down 0.74% and 0.27% respectively.The BSE oil & gas index was up 1.43 % or 141.09 points at 10,005.68. RNRL, ONGC, BPCL, Cairn India, Reliance Ind and IOC gained.

The BSE realty index was up 0.49% or 5.53 points at 5,224.80. Phoenix Mills, Sobha Developers, Anant Raj Ind, DLF and Parsvnath moved up.The BSE health care index closed flat 0.07% or 3.11 points at 4196.05. Divis Labs, Orchid Chemical, Lupin, Pfizer, GlaxoSmithKline, Biocon, Aurobindo Pharm and Dishman Pharma closed in green.

The BSE auto index was down 0.47 or 17.79 points at 3,750.39. Cummins, Hero Honda, Maruti Suzuki, Hind Motors, Bajaj Auto and Tata Motors slipped.The BSE FMCG index was down 1.10% or 23.57 at 2,118.27. Ruchi Soya, Marico, United Spirits, HUL, Colgate and ITC slid.

The BSE bankex was down 1.79% or 130.37 points at 7,161.13. Yes Bank, PNB, Bank of Baroda, SBI, Bank of India, Oriental Bank, Union Bank and IOB lost 3-6%.The BSE capital goods index was dwon 2.12% or 261.14 points at 12,078.63. Everest Kanto, Jyoti Structure, AIA Engineering, Astra Microwave, Praj Industries, Bharat Bijlee, BHEL, Alstom Projects and L&T slipped 2-6%.The BSE power index was down 2.33% or 63.12  points at 2,643.99. Tata Power, Power Grid Corp, NTPC, GVK Power, Suzlon Energy, Torrent Power fell 2-7%.

The BSE IT index was down 2.86% or 106.69 points at 3,626.82. TCS, Tech Mahindra, Financial Tech, Infosys, HCL Tech, I-Flex Solution and Satyam plunged 2-6.5%.The BSE metal index was down 3.07% or 400.65 points at 12,669.87. Jindal Steel, Tata Steel, Hind Zinc, Sesa Goa, SAIL, Guj NRE Coke and Sterlite Ind fell 2.5-6%.

Telecom stocks like Reliance Comm, Idea Cellular, Bharti Airtel, Tata Comm and TataTeleservice were down.

Total turnover stood at Rs 83214.40 crore. This includes Rs 17659.23 crore from NSE Cash segment, Rs 58129.42 crore from NSE F&O and the balance Rs 7425.75 crore from BSE Cash segment.

On the global front, European markets are trading negative. FTSE was down 0.56%, DAX down 1.12% and CAC down 0.82% (at 4 pm IST).