BSE Sensex, Nifty headed lower: Thursday Closing Report

A higher high in Nifty will now be the first sign of reversal

The Sensex opened at 20,017 while Nifty opened at 6,046 today. Yesterday we mentioned that the trend is still down. The indices hit the day’s high in the morning session itself but soon plunged into the negative zone. Sensex hit a high of 20,072 while the Nifty hit a high of 6,065. The benchmarks tried recovering in the noon session when the Reserve Bank of India (RBI) announced the raising of ceiling of FII investments in government securities and corporate debt.  Both the Sensex and the Nifty hit a five day low (including today) at 19,884 and 6,008 respectively. The Sensex closed at 19,924 (fell 103 points, 0.51%) while the Nifty closed at 6,019 (fell 35 points, 0.58%).


What is not reflected in the small decline is the massively negative advance- decline ratio. The NSE saw AD of 244:1227 and a volume of 98.59 crore shares.


Indeed, stocks were sharply lower across the board which is reflected in the broader indices. BSE Mid-cap index fell as much as 2.51% and the BSE Small-cap index fell 2.44%.


Tata Motors', a Sensex stock, fell the most among the 30 constituents, after Jaguar Land Rover (JLR) said on Wednesday that it is likely to report lower earnings before interest, taxation, depreciation and amortisation margin in the October-December quarter compared with the previous two quarters.


Among the sectoral indices, only three ended in the positive: BSE FMCG (up 1.03%); BSE IT (up 0.37%) and BSE Capital Goods (up 0.36%). The top losers were BSE Realty (4.19%); BSE Auto (2.51%); BSE Power (1.97%); BSE Metal (1.84%) and BSE PSU (1.52%).


Ten of the 30 stocks on the Sensex closed in the positive. The chief gainers were Hindustan Unilever (1.86%); ITC (1.64%); L&T (1.56%); TCS (1.06%) and ONGC (1.01%). The main losers were Tata Motors (5.91%); GAIL (4.66%); Cipla (3.67%); Hindalco Industries (3.39%) and Sterlite Industries (2.53%).


Out of the 50 stocks listed on the Nifty, 14 stocks settled in the positive. The major gainers were L & T (1.79%); Hindustan Unilever (1.78%); ITC (1.45%); TCS (1.38%) and Kotak Mahindra Bank (1.23%). The main losers were Tata Motors (6.12%); Jaiprakash Associates (5.64%); GAIL (4.63%); Cipla (3.98%) and Hindalco Industries (3.82%).


Most of the Asian indices opened in the negative on the back of news of International Monetary Fund (IMF) trimming its 2013 forecast for global growth to 3.5% from the 3.6% it projected in October. However, it forecast an expansion of 4.1% in 2014 if the euro zone recovery takes a firm hold. It said the world economy grew 3.2% last year.


The IMF today pegged India's economic growth rate in 2013 at 5.9% and projected a higher growth of 6.4% next year in line with the gradual strengthening of global expansion.


The Asian shares underwent volatile session with the positive news about Chinese manufacturing data on one hand while the on the other North Korea threatening a nuclear test and tepid results from Apple Inc.


China's manufacturing is expanding at the fastest rate in two years. The preliminary reading of a Purchasing Managers' Index was 51.9 in January, according to a statement from HSBC Holdings Plc and Market Economics today. That compares with the 51.5 final reading for December.


Spanish unemployment rose to a record in the final quarter of 2012 as Prime Minister Mariano Rajoy's government imposed the deepest budget cuts in the country's democratic history. The number of jobless approached 6 million people, or 26.02%, from 25.01% in the previous three months, the National Statistics Institute said in Madrid today.


The U.S. House of Representatives on Wednesday passed a bill that suspends the debt limit until May 19, a move that is likely to defuse immediate fears of a damaging U.S. debt default though not removing a longer-term threat.


Among the Asian indices Nikkei 225 was the top most gainer today, rising 1.28%, while the KOSPI Composite Index fared the worst losing 0.80%. European indices were mostly trading in the green while among US Futures indices, DJIA index was trading in the green while S & P 500 was trading in the red.


Jindal Steel and Power (JSPL) bagged an Rs 500 crore order from Power Grid Corporation for supply of 80,000 tonnes of steel, which will be used in setting up two transmission towers in Southern India. The order will be executed from February onwards. JSPL fell 1.64% to close at Rs419 on the BSE.


Rallis India is planning to raise its stake in Zero Waste Agro Organics to 51% by next financial year. During the quarter ended December 31, 2012, the Rallis acquired 22.81% stake in Zero Waste Agro Organics. Rallis fell 3.74% to close at Rs135.25 on the BSE.


Kejriwal targets Mukesh Ambani, again!

“Happiness does not increase by accumulating more and more wealth and if you stopped doing business dishonestly and contributed your wealth for the development of the nation, this country will remember you with pride forever,” comments Arvind Kejriwal on the legal notices sent to TV channels by RIL for showing 'live' telecast of his press conference

Arvind Kejriwal, the social activist-turned-politician, has again targeted Mukesh Ambani, the chairman and managing director of Reliance Industries Ltd (RIL) and the richest Indian across the globe. Kejriwal in a letter has also taunted the RIL CMD about sending notices to TV channels, which telecast the 'live' press conference of Kejriwal and Prashant Bhushan on 31 October 2012.


"I find it quite perplexing. If you felt that you have been defamed by what Prashant Bhushan and I had said, then we are the real culprits and, if you have to send a defamation notice, it should have been to us. The TV channels merely broadcast what we said. Despite this, instead of sending us the defamation notice, you have sent it to the TV channels. It is evident that your sole purpose of sending this notice was to steamroll the TV channels into subservience," Kejriwal said in the letter.


According to media reports, Mumbai-based AS Dayal & Associates has sent notices to TV channels on behalf of RIL. "Live telecast of these Press conferences amounts to permanent publication of defamatory material relating to our client by you…Each of the two Press conferences were telecast live without making any attempt to verify the truth or veracity of the statements and allegations being made during the Press conference,” the seven page notice reads.


Kejriwal, in his fresh salvo asked Ambani to give some straight answers. He asked...


1. Is it not true that the list of those who have accounts in Swiss Banks, as received by the Government of India, includes your name and the names of your relatives, your  friends and your companies?

2. Is it not true that a balance of Rs100 crore is shown against your name in this list?

3. Is it not true that you have paid the tax on this amount after this list was received by the  Government?


The founder of the Aam Aadmi Party (AAP) said, "If the above is true, as we suspect it is, it proves that you have admitted your guilt. As per the law of the land, you should be tried and, if the charge of tax evasion is proved, you should be sent to jail."


"However, this would never happen. Why? Because the Government of India is intimidated by you. You have been reported as saying that the Congress Party has been bought by you – it is your dukaan, to be precise. You are right. According to some media reports, Mrs Sonia Gandhi sometimes travels by your personal aircraft. People believe that Mr Jaipal Reddy’s ministry was also changed because of your influence.


Why only the Congress? Even BJP and many other parties are in your pocket. Earlier, Mr Advani used to make a lot of noise about Swiss Bank accounts, but since your accounts have been exposed, BJP has suddenly gone quiet. BJP has not mentioned a single word in the Parliament about your accounts," Kejriwal said in the letter sent to the RIL chairman.


Here is the letter sent by Kejriwal...






4 years ago

AAP's Arvind Kejrival must Purue the Issue of VODRA,as it looks a definite case of Quid PRO Suo .As Mr.Jagan mohanreddy is prosecuted in AP for similiar deals,Mr.VODRA issue also requires Follw up ,till Full Deatails are Explained.

BJP's Silence on Swiis Bank Accounts is not good for BJP.

Hats OFF to Guts of Mr. Kejrival.

s kumar

4 years ago

How many political parties have this gutts to take the bull by the horns. Keep it up Kejriwal.

nagesh kini

4 years ago

Will this be a sustained campaign followed up by constant prodding for responses or an one-off attempt soon to be forgotten?

nagesh kini

4 years ago

Will this be a sustained campaign followed up by constant prodding for responses or an one-off attempt soon to be forgotten?


4 years ago

Mulesh will not sue Kejriwal. As every one knows almost all TV News channels are in red . RIL holds substantial shares in CNN IBN channel. RIL deep pockets ensure many in top enjoy hostings by RIL.

Convey kudos to Kejriwal for ambushing the 2nd term of Gadkari. No TV New Channel attributed Gadkari's demolition to the efforts of Kejriwal.

PNB, CBI, OBC, BoB face further deterioration in bad loans after 100% jump in NPAs last year

Some of India's biggest banks which reported the highest increase in net NPAs in 2011-12, faced further deterioration in asset quality in the first half of 2012-13 too, says a research report

During 2011-12, more than a dozen banks, including domestic and foreign have reported over 100% jump in their non-performing assets (NPAs) says a report by


Alarmingly, "The NPA scenario has got worst in the first half of current financial year (2012-13), with gross NPAs growth rate at 45.7% being far higher than the growth in gross advances by banks in India” says Devendra Jain, CMD of Atishya Group that owns the portal


Some of India's biggest banks which reported the highest increase in net NPAs in 2011-12, faced further deterioration in asset quality in the first half of 2012-13 too: Central Bank of India (CBI)'s net NPAs growth rate has again jumped by 224.5%, that of Punjab National Bank (PNB)'s has shot up by 277% and for Indian Bank it is a further jump of 111%. India's largest bank, the State Bank of India (SBI) too saw its net NPAs shoot up by 40% in net NPAs during the first half of 2012-13 as against an increase of 28% in the previous financial year ended 31 March 2012.


According to the research, large banks like CBI at over 400%, Indian Bank with 201%, Oriental Bank of Commerce (OBC) at 162%, Corporation Bank with 119% and PNB with 118% were amongst those banks which reported over 100% jump in their net NPAs during 2011-12. Foreign banks like Bank of Bahrain & Kuwait (399%), Chinatrust Commercial Bank (269%), DBS Bank (232%) and Standard Chartered Bank (193%) too figured amongst the banks with very high increase in their net NPA levels, it said.


Bank Name

as on March 31, 2012

as on Sept 30, 2012

Increase in

Net NPAs (Rs crore)

Increase in

Net NPAs (%)

Increase in

Net NPAs (Rs crore)

Increase in

Net NPAs (%)

Karur Vysya Bank





Central Bank of India





Indian Bank





Andhra Bank





Oriental Bank of Commerce





Punjab & Sind Bank





Corporation Bank





Punjab National Bank





Bank of Baroda






As of 30 September 2012, net NPAs for 39 listed banks were higher by around Rs31,100 crore or 58% compared to corresponding period of last year, the analysis by shows. Of this, about 75% or Rs23,300 crore has risen during first half of FY13. Similarly gross NPAs as of 30 September 2012 were higher by Rs53,000 crore or 46.7% compared to corresponding period of last year. Of this 66% or Rs35,200 crore has risen during first half of FY13, it said.


According to recent data released by the Reserve Bank of India (RBI) even as the gross NPAs of all banks shot up by 45.7% for the first half ended 30 September 2012, the gross advances growth rate was just 15.9%.


The analysis done by shows that net NPAs of 39 listed banks as of March 2012 were Rs61,380 crore and this has risen to Rs84,680 crore as of September 2012, growth of 38%. Similarly, gross NPAs as of March 2012 were Rs1.31 lakh crore, which have risen to around Rs1.67 lakh crore as of September 2012, growth of 27%.


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