Sensex closes 190 points as market consolidates (Roundup)
By IANSThursday, October 14, 2010
MUMBAI - A benchmark index of Indian equities Thursday closed 190 points lower with traders choosing to book profits after the recent rally.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,700.42 points, closed at 20,497.64 points, down 190.24 points or 0.92 percent from its previous close at 20,687.88 points.
It rose 167 points in early trade to an intra-day high 20,854.55 points and touched a low of 20,442.82 points minutes before closing bell, shedding over 245 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 6,177.35 points, down 0.91 percent.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $696.73 million Thursday. For the month, FII fund inflows have crossed the $4 billion-mark.
Broader markets closed in the red too. The BSE midcap index slipped 0.27 percent lower, while the BSE smallcap index ended 0.49 percent down.
Realty, metal and IT stocks made gains, while capital goods scrips saw losses.
The market breadth was mixed with 1,399 stocks advancing, 1,487 declining and 101 remaining unchanged.
Top Sensex gainers were Wipro, up 2.34 percent at Rs.494; Tata Steel, up 1.97 percent at Rs.650.60; Infosys, up 1.05 percent at Rs.3,184.25 and Tata Motors, up 0.57 percent at Rs.1,183.05.
Top losers included Reliance Communications, down 3.43 percent at Rs.180.25; L&T, down 3.19 percent at Rs.2,012.95; NTPC, down 2.57 percent at Rs.202.75 and M&M, down 2.28 percent at Rs.718.90.
Other Asian markets were on the rise enthused by good corporate earnings posted by bluechip companies in the US.
Hong Kong’s Hang Seng closed 1.68 percent higher at 23,852.17 points, while the Japanese Nikkei closed 1.91 percent up at 9,583.51 points.
The Shanghai Composite index rose 0.64 percent at 2,879.64 points.
European stock markets were trading lower with some profit booking seen after a robust rise in Wednesday’s trade. The US Federal Reserve’s widely expected move to bring down interest rates to help revive the world’s largest economy has been used as a rallying point by bourses across the world.
Around mid-day, Britain’s FTSE 100 was trading at 5,730.3 points, down 0.3 percent.
The German DAX was ruling 0.41 percent higher at 6,460.62 points, while the French CAC 40 was flat at 3,827.16 points.
