Indian markets show healthy consolidation


Mumbai : It was a day of healthy consolidation on Indian bourses Wednesday as they closed in the red in the wake of profit booking.

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The markets opened on a bullish note, taking strong cues from global peers. Trades were extremely volatile through the day.

The benchmark sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shut shop at 19,266 points, down by 134.75 points or 0.69 percent. The broader S&P CNX Nifty ended marginally down by 4.15 points or 0.07 percent at 5,782 points.

It was a bad day for IT stocks, which were butchered on account of further strengthening of rupee.

BSE IT index ended with a deep cut of nearly four percent. Major losers were Infosys at Rs.1,745 down 5.71 percent, Satyam at Rs.440.25 down 2.84 percent and Wipro at Rs.476 down 2.33 percent.

Banking and realty stocks also lost some ground.

Indian rupee was quoting at 39.26 against a US dollar. Crude oil (Nymex) is marching towards $100 per barrel. It was at $97.90 on heavy buying.

Among the top gainers on the Sensex were Sterlite Industries at Rs1,056.75 up 6.72 percent, GAIL at Rs.457.55 up by 6.42 percent and Hindustan Petroleum at Rs.258.55 up by 4.76 percent.

Top losers on the Sensex were Infosys at Rs.1,745.90 down by 5.72 percent, Tata Power at Rs.1,290 down by 4.86 percent and HDFC Bank at Rs.1,616.85 down by 5.35 percent.