Gainers & Losers

Jaiprakash Associates fell 9.1% to 77.10 rupees after foreign fund BSMA yesterday sold 1.97 crore shares at 87.25 rupees a share to Copthall Mauritius Investments.

Hindustan Unilever declined 4.9% to 234.60 rupees, Reliance Infrastructure plunged 4.4% to 553 rupees, and Larsen & Toubro slid 4.1% to 828.20 rupees.

Realty stocks slipped on the speculation that deteriorating conditions in the financial markets will increase borrowing costs. Unitech shed 3% to 49.50 rupees, DLF declined 8.3% to 245.50 rupees, and Indiabulls Real Estate lost 13.1% to 113.60 rupees.

Reliance Industries declined 3.6% to 1,164 rupees.

Financial stocks also declined. ICICI Bank tumbled 8.1% to 399 rupees, HDFC Bank dropped 0.9% to 1,014 rupees and State Bank of India fell 4.1% to 1,172.10 rupees.

Metal stocks fell. Sterlite Industries dipped 4.5% to 237.55 rupees, Hindalco Industries shed 5.6% to 56.65 rupees, and Tata Steel declined 2.4% to 186.30 rupees.

Automakers declined. Mahindra & Mahindra fell 4.3% to 342 rupees, Tata Motors shed 3.2% to 150.30 rupees, and Maruti Suzuki India climbed 1.1% to 566 rupees.

Oil and Natural Gas Corporation declined 3.3% to 711 rupees after the company announced yesterday that it will lose between 300 and 400 crore rupees annually if it follows the finance ministry directive to keep 60% of its surplus cash with state-run banks.

IT stocks rose after the rupee fell to 48.84 against the dollar. Wipro rose 0.9% to 250 rupees, Infosys increased 0.2% to 1,257.90 rupees and Satyam Computer Services declined 1.2% to 266 rupees.

Bharti Airtel dropped 3.7% to 633.50 rupees and Reliance Communications fell 1.1% to 218 rupees.

Tata Teleservices, a unit of Tata Teleservices, rose 8.3% to 18.10 rupees on the news that Japan’s NTT DoCoMo Inc, plans to buy a 26% stake in TTML''s parent firm Tata Teleservices for $2.7 billion.

Oil marketing firms fell after crude oil prices dropped below $60 per barrel. Bharat Petroleum Corporation increased 6.1% to 321.40 rupees, Indian Oil Corporation edged up 4.9% to 377 rupees, and Hindustan Petroleum Corporation soared 6.8% to 214 rupees.