Markets end in deep red amid profit booking

Mumbai, Nov 5 (IANS) The Indian stock markets closed in the negative due to profit booking in all sectors. The broader indexes held on to their gains and mid-cap and small-cap indexes outperformed the benchmark Sensex.

The benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shut shop at 19,590.78 points, down by 385.45 points or 1.93 percent.

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The broader S&P CNX Nifty of the National Stock Exchange closed at 5,847 points, down by 85.10 points or 1.43 percent.

The BSE mid-cap index was up 1 percent and BSE small-cap index was up 1.4 percent.

Cues from Asia were not very encouraging as most of the Asian markets closing in the red.

The markets remained choppy the entire day on the back of weak Asian indices in current trades. However, gains in the US markets, surging FII investments and bullish trend helped market to add gains.

However, rise in oil prices put some pressure on investor sentiments. US indices saw a late-session rally to finish modestly higher on Friday. While the Dow Jones moved up by 27 points at 13595, the Nasdaq moved up by 16 points to close at 2810.

Crude oil prices advanced further, with the Nymex light crude oil for Dec delivery gaining by $2.44 cents to close at $95.93 a barrel. In the commodity space, the Comex gold for December delivery gained $14.80 to settle at $808.50 an ounce.

Among the top gainers on the Sensex were Bharti Airtel, adding 5.23 percent at Rs.941.80, Tata Power scaled up by 5.02 percent at Rs.1,369.85 and Hindustan Petroleum moved up by 2.95 percent at Rs.246.35.

Among the top losers on the Sensex were ONGC, which plunged 4.93 percent at Rs.1,298.85, ICICI Bank down 4.77 percent at Rs.1,269.85 and L&T down by 3.97 percent at Rs.4,283.20.