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Sensex falls over 500 points; Nifty also ends in red
Published on Mon, Jun 09, 2008 at 17:16, Updated on Mon, Jun 09, 2008 at 17:29 in 
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Mumbai: The markets were completely shattered on Monday, the first day of week on huge volumes by bad cues from US and Asian markets due to climbing Crude higher, which raises the Inflation further.
Realty, technology, capital goods, oil & gas, power and banking stocks witnessed heavy selling pressure, which brought the major indices below their psychological levels during the day. Midcap and small cap stocks also caught in bears hand.
The Nifty has broken 4500-mark (hit new 2008-low) and the Sensex cracked below 15000 during the day but both indices managed to close above those levels and recovered nearly 80 points and 280 points from days low, respectively.
In the second half of session, major pharma and metal stocks have got some buying support.
Turnover traded by the markets for the day stood at Rs 76668.53 crore, including Rs 13292.26 crore from NSE Cash segment, Rs 58333.52 crore from NSE F&O and the balance Rs 5042.75 crore from BSE Cash segment.
Realty Index was hit hardest and underperformed other indices. This sector have corrected to a large extent. Index fell 7.05 per cent or 437.65 points to settle at 5,772.65 while if we see since this correction started, it has corrected over 58 per cent from its high of 13848.09.
Selling pressure has seen in Unitech, DLF, HDIL, Phoenix Mills, Ansal Properties, Peninsula Land, Akruti City, Sobha Developers, Indiabulls Real, Anant Raj Ind, Puravankara Proj, Parsvnath and Omaxe, which down 4-10 per cent in a day.
DLF has hit new life low of Rs 475 and closed at 481.55, down 7.39 per cent over previous close. The stock is down over 8 per cent from its issue price of Rs 525.
The Sensex closed at 15,128.04, down 2.85 per cent or 444.14 points after hitting an intraday high of 15,202.74 and low of 14,846.18.
The Nifty ended at new closing low of 4,500.95 for 2008 after breaching previous low of 4448.05; it has hit a high/low of 4626.45 and 4411.60 before finishing the day at 4500.95, down 2.74 per cent or 126.85 points.
Biggest losers were Jaiprakash Asso (-8.13 per cent), DLF (-7.10 per cent), ONGC (-7.09 per cent), HDFC (-5.37 per cent), Unitech (-8.80 per cent) and BPCL (-7.31 per cent) while gainers - NALCO (5.68 per cent), Cairn India (4.51 per cent), Hero Honda (4.49 per cent), Ranbaxy Labs (4.16 per cent), Reliance Comm (1.50 per cent), Hindalco (1.08 per cent) and Tata Steel (0.35 per cent).
Market breadth was weak; about 614 shares have advanced, 2348 shares declined, and 153 shares remained unchanged.
Technology stocks also hammered a lot, Index crashed 4.2 per cent or 193.61 points at 4,404.98 led by selling in Wipro, HCL Tech, TCS, Infosys, Patni Computer, Satyam and Tech Mahindra. Infosys slipped below Rs 1900 during the day but managed to close above that level.
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