January 7, 2009

At 2.32PM BSE Sensex is at 9,663.75 down by 672.18 points

The markets today hammered badly after the awful revelation that Satyam Computers founder and chairman Ramalinga Raju had resigned from the Satyam board and admits fraud. Both the BSE Sensex and the NSE Nifty are trading with a cut of more than 5% each. The Realty, IT, Oil & Gas, Banking and Capital Goods stocks are the worstly hitted stocks today.
The balance sheet of Satyam has inflated, where in the cash balances of Rs 5040 crore and accrued interest of Rs 376 crore is non-existent. Rs 1230 crore was arranged to Satyam and is not reflected in the books.

The BSE Mid Cap and the Small Cap stocks have also given up their early gains and are now trading lower.

The BSE Sensex is now trading below the 9,700 mark and the NSE Nifty below the 2,950 mark.

The overall market breadth is negative as 334 stocks are advancing while 2117 stocks are declining in BSE.

Infosys Technologies reported the top gainer from the BSE Sensex pack. It is trading higher by (0.89%) at Rs.1,178.10 while Satyam Computer the top loser down by (78.78%) at Rs. 38.

At 2.32PM BSE Sensex is at 9,663.75 down by 672.18 points and Nifty is at 2,937.35 down by 175.15 points.

The BSE Mid Cap is lower by 237.78 points at 3,207.18 and BSE Small Cap slipped by 236.68 points to 3,671.87.

The Realty index is trading with sharp losses of 392.70 point or 16.60% at 1,973.50. Pulling it are India Bull Real trading with deep cut of 24.52% at Rs112.50 along with HDIL by 20.31% at Rs111.80, Unitech by 19.61% at Rs36.90, Ansal Infra by 17.73% at Rs29, Sobha Developers by 14.27% at Rs96.45, Mahindralife by 14.05% at Rs156.90, DLF by 13.33% at Rs242.50, Phoenix Mill by 11.29% at Rs66.80 and Anant Raaj by 9.07% at Rs75.20.

The IT index is also trading on the back foot with losses of 230.89 points or 9.84% at 2,115.93. Losers are Satyam Computers trading down by 77.39% at Rs40.50 along with Aptech by 15.37% at Rs87, HCL Technologies by 15.17% at Rs110.15, NIIT Ltd by 14.09% at Rs25.60, Mosear Baer by 11.76% at Rs69.80 and Tech Mahindra by 8.61% at Rs270.

The most active shares on NSE are Satyam Computers trading at Rs.39 with a total traded quantity of 279165843 shares followed by Unitech trading at Rs.37.35 with a total traded quantity of 67194196 shares.