India News
Search Web Directory
 India News  
News Home
Sensex ends 119 down after hitting 27,000, IT stocks melt
Posted on 7th January 2016
MUMBAI: Marked by day-long swings, the stock market came off its nearly two-month high by falling over 119 points to close at 26,759, stumped by IT worries following proposed visa curbs in the US.

The NSE nifty too briefly retook the 8300 level before capitulating.

Information technology stocks hit a rough patch after US lawmakers pushed ahead with legislation to put restrictions on use of H1B visas -- Infosys fell 2.50 per cent, TCS 2.18 per cent and Wipro 2.18 per cent.

Selling pressure was so hard that it pulled indices such as IT, realty, FMCG, consumer durables lower.

The Sensex opened higher and advanced to touch a high of 27,009.61 before ending at 26,759.23, down 119.01 points, or 0.44 per cent.

The gauge had gained 245.11 points in yesterday's trade.

The NSE 50-share Nifty also regained the 8,300 level before settling lower by 30 points, or 0.36 per cent, to close at 8,243.80.

On a weekly basis, both key indices -- the Sensex and the Nifty -- recorded a rise of 132.77 points, or 0.49 per cent, and 58 points, or 0.70 per cent, respectively.

In the 30-share Sensex pack, 17 scrips ended with sharp losses while the remaining 13 finished in the green.

Sectorally, the IT index suffered the most by falling 2.54 per cent as two US lawmakers reintroduced a Bill to curb the use of H-1B visas, including requiring employers to pay more for workers under the system.

Other sectoral indices that ended in the negative zone were technology 2.16 per cent, realty 0.97 per cent, FMCG 0.81 per cent. But banking and healthcare bucked the trend and ended in the green.

ITC, Power Grid, Tata Motors, Adani Ports, Coal India, Axis Bank, NTPC, Reliance Industries and Bharti Airtel fell up to 1.56 per cent.

However, ONGC, Asian Paints, Dr Reddy's, HDFC Bank, HDFC, Bharti Airtel and Cipla ended up on the gainers list.

The BSE small and midcap indices also showed a weak trend, down 0.43 per cent and 0.27 per cent, respectively.

Related Companies: Bombay Stock Exchange - BSE   National Stock Exchange of India Ltd (NSE)    

Other Latest News
 
BENGALURU: Founder Chairman of Infosys N R Narayana Murthy on Friday expressed sadness over the IT companies laying off their employees as part of their cost cutting strategy.

"...It is sad...," Murthy told in an email reply to a PTI query about recent IT layoffs. Murthy, however, did not elaborate on the matter.


 
Mumbai: State Bank of India, the country’s largest lender by assets, picked Bank of America Corp. and Deutsche Bank AG to arrange a share sale that could raise about $2 billion, people with knowledge of the matter said.

The lender also chose IIFL Holdings Ltd., Kotak Mahindra Bank Ltd., JM Financial Ltd. and SBI Capital Markets Ltd. to work on the offering, according to the people, who asked not to be identified because the information is private. SBI aims to start the share sale as soon as next month, the people said.


 
Canadian export credit agency, Export Development Canada (EDC) has given a $215 million loan to India’s third largest telecom operator, Idea Cellular. The loan is under a pre-existing $500 million uncommitted financing arrangement for the Aditya Birla Group (ABG). Under the arrangement, EDC provides financing support to the broader group companies under the ABG banner for transactions that are of strategic importance to both EDC and the Group, the agency said.

 
Indian Oil Corporation’s (IOC) chairman B Ashok will sign off on a high when he demits office on May 31 as the company registered a 70% growth in annual profit for 2016-17 and an 85% jump for the quarter ended March 31, 2017. Ashok will be succeeded by Sanjiv Singh who is currently the director for refineries.The country’s largest oil marketing company posted a net profit of Rs19,106 crore for 2016-17 compared with Rs11,242 crore in the previous financial year, and the net profit for the fourth quarter of 2016-17 stood at Rs3,721 crore compared with Rs2,006 crore in the year-ago period.

 
The country’s second largest commercial vehicle manufacturer, Ashok Leyland on Thursday beat estimates by reporting a net profit of Rs476 crore during the January-March quarter against a net loss of Rs140 crore during the same period last year on the back of healthy demand for its products in the medium and heavy vehicles segment.

Due to higher demand for trucks and buses, net sales during the period increased 10.79% y-o-y to Rs6,617.89 crore.


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on IndiaCatalog.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Sensex ends 119 down after hitting 27,000, IT stocks melt
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Sensex ends 119 down after hitting 27,000, IT stocks melt

Most Read News

FDI inflows rose 9% to record $43.5 billion in fiscal year 2016-17

PNB mulling new strategy to cut time to clear JLF decision

RBI says infusing funds into lenders won't solve debt mess

SBI Q4 profit doubles to Rs 2,815 cr; find out how

Sensex signs off week above 30,000 post GST rate anouncement

More India News

Photo Gallery

Chevrolet Enjoy(12 Images)Chevrolet Enjoy
Hero Hunk(11 Images) Hero Hunk
Aadi(20 Images)Aadi
India Resource Center
» Free India Classifieds
Introducing IndiaCatalog Free Classifieds. Post your free classified ads. Inviting Real Estate Agents, Travel Agents, Job Placement Agents and others to post their advertisements for free.
» Global Web Directory
Web directory listing of Global companies. Send enquiries to international companies.
» India Yellow Pages
Yellow Pages for Mumbai, Delhi, Bangalore, Chennai, Kolkota, Hyderabad, Pune and more Indian cites.
» Logistics Directory
Find supply chain management consultants, freight forwarders, trucking companies in India.
» Photo Gallery
This page provides you with links to images of India displaying Celebrities Photos,Automobiles Photos,latest Movies Photos,Sports Photos,Photos of Bollywood Stars and many more.
» Agriculture Directory
Find Fresh Vegitables, Fruits, Basmati Rice, Meat, Poultry and Seafood producers in India.
» Real Estate in India
Real Estate directory of India. Find agents, builders and suppliers.
» Gems & Jewellery
Find jewellery, gems and diamond merchants in India.
IndiaCatalog.com
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Safety Tips For Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory, India Free Classifieds
    © 1999 - 2017 IndiaCatalog.com
    All Rights Reserved
Privacy Statement    
    © 1999 - 2017 IndiaCatalog.com
    All Rights Reserved
Privacy Statement