Markets consolidate after Friday’s rally, Sensex ends flat


Mumbai : Consolidation set in at Indian equities markets after Friday’s rally, with a key index plummeting towards the closing bell Monday, falling after rising 191 points to close just 21 points above its last closing figure.

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The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,815.9 points, ended trade at 14,785.74 points – 21.1 points or 0.14 percent higher than Friday’s close. It had risen more than 419 points Friday.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) ended the day 0.35 percent up at 4,390.95 points.

Broader market indices did much better, with the BSE midcap index ending 1.14 percent up, while the BSE smallcap index closed 1.5 percent higher than its previous close.

Of the 13 sectoral indices on the BSE, IT, technology and auto stocks ended among the losing scrips, while consumer durables and realty stocks gained.

The market breadth was positive, with 1,686 stocks advancing compared to 964 declining, while 73 scrips remained unchanged.

Among the gainers on the 30 scrip composite Sensex were Sterlite, up 5.66 percent at Rs.646.70; DLF, up 3.82 percent at Rs.338; Reliance Industries, up 2.78 percent at Rs.2,084.95; and ONGC, up 2.61 percent at Rs.1,068.05.

The losers included Tata Motors, down 7.77 percent at Rs.313.85; Sun Pharma, down 3.52 percent at Rs.1,100.35; TCS, down 2.77 percent at Rs.385.90; and HDFC, down 2.61 percent at Rs.2,371.95.

Total traded turnover stood at Rs.71,945.23 crore against Friday’s Rs.71,092.23 crore. This included Rs.18,302.35 crore from NSE cash segment, Rs.47,588.96 crore from NSE futures and options and the balance Rs.6,053.92 crore from the BSE cash segment.

Data with the market watchdog Securities and Exchange Board of India (SEBI) showed that foreign funds turned net buyers almost after a two-week lull, lapping up shares worth $138.7 million Monday.

Other Asian markets too did not do well, with the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, losing 93.92 points to end Monday’s trade at 9,783.47 points.

The Hang Seng, a primary index of the Hong Kong stock exchange, also ended in the red at 18,528.51 points, a decrease of 71.75 points over its previous close.

European markets, opened positive and were still holding up, with the FTSE, a key British index, ruling 26.92 points higher to stand at 4,267.93.

Its French peer, CAC 40, was also ruling above its last closing figure, trading at 3,168.18 points, an increase of 38.45 points.

US stocks were poised for a quiet opening, with the Dow Jones futures ruling a marginal 0.1 percent higher than its previous close, while the Standard and Poor’s 500 future index was up 0.01 percent.

The technology scrip-heavy Nasdaq future was trading a meagre 0.02 percent up.