Registering its second consecutive decline, the BSE benchmark Sensex shed 2.11 per cent during the truncated trading week ended November 11 amid heavy selling pressure in realty, banking, metal, capital goods and PSU sectors.

The market sentiment was bearish in view of lower IIP data and unexpectedly poor quarterly results from some companies.

The BSE and NSE were closed on November 7 on account of Eid-ul-Azha and on November 10 for Gurunanak Jayanti.

The BSE Sensex fell 369.79 points or 2.11 per cent to end at 17,192.82 during the trading week ended November 11. The 50-share S&P CNX Nifty also declined 115.35 points or 2.18 per cent to 5,168.85.

Notably, the BSE Mid-Cap and Small-Cap indices underperformed in comparison to the broader market during the week. While the BSE Mid-Cap index declined 2.16 per cent, the BSE Small-Cap index slipped 2.78 per cent.

The maximum fall in the key benchmark indices occurred at the fag-end of the week, following the release of data that showed industrial production rose by a dismal 1.9 per cent in September 2011, the lowest rate of expansion in two years, while food inflation remained at elevated levels in late October.

Banking stocks fell as the 10-year benchmark bond yield approached 9 per cent during the week. Bond yields and bond prices are inversely related. Lower bond prices may result in depreciation in the valuation of banks’ portfolios of government securities.

State Bank of India was the big loser during the week, losing 8.48 per cent following the announcement of an increase in the bank’s bad loans in the second quarter ended September 2011.

“The banking sector disturbed the overall sentiment for the week. SBI reported higher-than-expected NPAs and Moody’s downgrade of the Indian banking system to ‘negative’ from ’stable’ was enough to create capitulation in stocks,” Inventure Growth and Securities Head of Research, Mr Milan Bavishi, said.

Realty major DLF declined 7.48 per cent to Rs 228.35 during the week. The company announced on Thursday that its consolidated net profit fell 10.98 per cent in Q2.

India’s largest steel maker by sales, Tata Steel, also tumbled 8.1 per cent as the company had announced that its consolidated net profit fell 89.26 per cent to Rs 212.43 crore in Q2, FY’12, in comparison to the corresponding period of the previous fiscal.

FMCG giant Hindustan Unilever (HUL) was the top Sensex gainer of the week. The stock rose 4.57 per cent to Rs 396.15 on news that HUL’s net profit rose 21.69 per cent in the second quarter.

Among the major indices, the BSE-Realty index dipped 5.98 per cent, the Bankex 5.44 per cent, the BSE-Metal index 4.84 per cent, the BSE-Capital Goods index 3.56 per cent, the BSE-PSU index 3.34 per cent and the BSE-Power index by 2.37 per cent during the trading week ended November 11.

The total turnover on the BSE and NSE fell to Rs 7,183.23 crore and Rs 30,609.46 crore, respectively, from the level of Rs 11,240.12 crore and Rs 49,533.34 crore witnessed in the previous week.

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