Sensex closes 372 points down as domestic traders offload (Roundup)

MUMBAI - A benchmark index of Indian equities fell for the second straight day Friday, closing 372 points lower as domestic investors offloaded their portfolios amid demand from the services sector that the central bank intervene to check currency gains, limiting foreign fund inflows that have crossed $4.5 billion in October.

The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,518.5 points, closed at 20,125.05 points - down 372.59 points or 1.82 percent from its previous close at 20,497.64 points.

It had moved up 81 points to 20,578.45 points soon after the opening bell and touched a low of 20,090.18 points.

At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty shut shop at 6,062.65 points, down 1.86 percent.

Broader markets were in the red too with the BSE midcap index ending 1.22 percent lower and the BSE smallcap index 0.74 percent down.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $655.12 million Friday. For the month, FII fund inflows have crossed the $4.5 billion-mark.

IT, telecom, auto and banking stocks led the losers pack. All the 13 sectoral indices on the BSE closed in the red.

The market breadth was negative with 1,322 stocks advancing, 1,593 declining and 96 remaining unchanged.

Of the 30 stocks, comprising the Sensex, 29 closed in the negative. The sole gainer was NTPC, up 0.35 percent at Rs.203.45.

Top losers included Wipro, down 3.58 percent at Rs.473.50; TCS, down 3.52 percent at Rs.951; Infosys, down 3.39 percent at Rs.3,076.15, and Hero Honda, down 3.19 percent at Rs.1,802.40.

Other Asian markets closed in the red ahead of a monetary easing decision by the US Federal Reserve. Profit taking after two days of rallying also took its toll.

Hong Kong’s Hang Seng ended 0.4 percent lower at 23,744.92 points, while the Japanese Nikkei closed 0.87 percent down at 9,500.25 points.

The Shanghai Composite index, however, rose 3.18 percent at 2,971.16 points.

European stock markets were struggling ahead of a speech by chairman of the US Federal Reserve, Ben Bernanke on the monetary policy. However, a reasonably good show by US companies in the earnings season helped sagging sentiments.

Around mid-day, Britain’s FTSE 100 was trading at 5,704.33 points, down 0.4 percent.

The German DAX was ruling 0.26 percent higher at 6,471.9 points, while the French CAC 40 was flat at 3,818.66 points.