Sensex closes 94 points lower, Wipro loses on poor results (Roundup)By IANS
Friday, October 22, 2010
MUMBAI - A benchmark index of Indian equities closed 94 points lower Friday with selling pressure intensifying in frontline stocks, erasing most of the gains from earlier sessions.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,334.14 points, closed at 20,165.86 points, down 94.72 points or 0.47 percent from its previous close at 20,260.58 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty also ended lower at 6,066.05 points, down 0.58 percent.
For the week, the Sensex edged up 0.2 percent, while the Nifty ended almost flat on a weekly basis.
Broader markets, however, closed in the green. The BSE midcap index ended 0.27 percent higher while the BSE smallcap index moved up 0.3 percent.
The market breadth was negative with 1,393 stocks advancing, 1,596 declining and 129 remaining unchanged.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $220.12 million Friday. For the month, FII fund inflows have touched almost $5.8 billion and the yearly inflows has touched approximately $24 billion.
Wipro ended 4.54 percent lower at Rs.448.40 after the company, hit by forex losses and salary hikes, posted only a 10 percent rise in net profits for the quarter ended Sep 30.
Other major losers included Sterlite Industries, down 2.58 percent at Rs.168.20; Jaiprakash Associates, down 2.37 percent at Rs.125.75, and DLF, down 2.26 percent at Rs.363.25.
Among gainers were TCS, up 5.72 percent at Rs.1,040.10; Infosys, up 0.66 percent at Rs.3,053.25; Reliance Com, up 0.51 percent at Rs.179, and ICICI Bank, up 0.23 percent at Rs.1,131.85.
Other Asian markets were mixed as China, the second largest economy in the world, reported a slowdown in growth, triggering fears of lower contribution to the world economic recovery.
Hong Kong’s Hang Seng closed 0.56 lower at 23,517.54 points, while the Japanese Nikkei ended 0.54 percent up at 9,426.71 points.
The Shanghai Composite index closed at 2,975.04, down 0.28 percent.
European markets were tepid as investors waited for more news from the corporate earnings season.
Around mid-day, Britain’s FTSE 100 was trading 0.5 percent lower at 5,729.25 points.
The German DAX was ruling 0.18 percent down at 6,599.44 points, while the French CAC 40 was 0.23 percent lower at 3,869.26 points.