Day before expiry, Sensex loses 216 points (Roundup)
By IANSWednesday, October 27, 2010
MUMBAI - A benchmark index of Indian equities Wednesday closed 216 points lower as traders off-loaded their long positions ahead of the October futures expiry. Weak global cues too added to the slide.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,220.58 points, closed at 20,005.37 points, down 216.02 points or 1.07 percent from its previous close at 20,221.39 points.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 6,012.65 points, down 1.14 percent.
Broader markets also closed in the red. The BSE midcap index ended 0.29 percent lower, while the BSE smallcap index moved 0.31 percent down.
The market breadth was negative, with 1,213 stocks advancing, 1,727 declining and 128 remaining unchanged.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $157.26 million Wednesday.
FII fund inflows have crossed $6.52 billion so far in October, with yearly inflows at approximately $24.89 billion.
Consumer durables, metal stocks gained, while realty, FMCG, banking, telecom and IT scrips ended in the red.
Major gainers were Reliance Com, up 3.66 percent at Rs.182.50; M&M, up 1.63 percent at Rs.729.40; Tata Steel, up 1.48 percent at Rs.614.40 and Hindalco Industries, up 0.67 percent at Rs.219.15.
Top losers included NTPC, 3.14 percent down at Rs.198.75, HDFC, up 2.59 percent at Rs.679.50, Maruti Suzuki, up 2.44 percent at Rs.1,524.70 and ICICI Bank, up 2.23 percent at Rs.1,106.25.
Other Asian markets ended lower over concerns that an easing in the interest rates in the US might not be as significant as was earlier expected.
Hong Kong’s Hang Seng ended 1.85 percent lower at 23,164.58 points, while the Japanese Nikkei closed flat at 9,387.03 points.
The Shanghai Composite index closed at 2,997.05 points, down 1.46 percent.
European markets were also in a slump as metal stocks lost their sheen as the US dollar strengthened.
Around mid-day, Britain’s FTSE 100 was trading 0.42 percent lower at 5,683.42 points.
The German DAX was up 0.07 percent at 6,618.55 points, while the French CAC 40 was 0.15 percent higher at 3,858.38 points.
