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Indian stock market daily closing report (November 27, 2009)

Contributed by Nirmal Bang

By Nirmal Bang

Asian markets crashed today. Hang Seng plunged 4.8% and Kospi was down 4.7%. Nikkei and Taiwan Weighted fell 3.2% each. Shanghai and Jakarta were down 2.4-2.8%. US futures were down over 2%, as US markets were closed on Thursday on thanksgiving note. The BSE Sensex recovered 421.57 points, before closing at 16,632.01, down 222.92 points or 1.32%. NSE Nifty fell 63.80 points or 1.27%, to settle at 4,941.75, after seeing recovery of 135.05 points from day's low.

Suzlon Energy shot up over 6%, as REpower received order for up to 954 MW. Ranbaxy was up over 3%, as it has launched Valaciclovir Tablets in US. Unitech has gained over 2.5%, as the management said the company has no exposure to Dubai.

India infrastructure companies especially having exposure to the Dubai economy and its once booming real estate business saw selling pressure. HDIL, Indiabulls Real Estate, Bank of Baroda, Nagarjuna Construction, Omaxe, Punj Lloyd, DLF, Larsen & Toubro, Voltas and Aban Offshore were down 1-6%.

In the power space, Lanco Infratech, GMR Infra, Reliance Power, NTPC and Power Grid Corp were down 1-3%.
 

Cairn India, Reliance Industries and ONGC were down 0.5-2.5% while BPCL and GAIL gained 0.8-1.8% in the oil & gas segment.

In the banking space, Bank of Baroda lost 4.64%, as the bank has some exposure to Dubai. Axis Bank, Kotak Mahindra, ICICI Bank, HDFC Bank, PNB and SBI were down 0.5-3%.
 

In the healthcare segment, Biocon and Lupin fell 1% each while Ranbaxy Labs, Aurobindo Pharma, Wockhardt and Cipla gained 0.8-3%.