By IANS,
Mumbai : A benchmark index for Indian equities recouped some of its intra-day losses to close 61 points lower on a day when bourses globally saw a sell-off.
Investor confidence dipped on the state of the economic recovery in the US and other developed economies. India too was not far behind, tracking the global selling spree.
Positive growth data, however, helped soothe sentiments. As per official data, the country’s gross domestic product expanded 8.8 percent in the April-June quarter, helped by domestic demand.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,015.66 points, closed at 17,971.12 points, 60.99 points or 0.34 percent down from its previous close at 18,032.11 points.
It had fallen 212 points in the day to 17,819.99 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty followed a similar trajectory, closing 0.24 percent down at 5,402.4 points.
Broader markets indices also ended in the red. The BSE midcap index was down 0.58 percent while the BSE smallcap index shut shop 1 percent lower.
Consumer durables, energy, realty and metal scrips bore most of the selling pressure, while FMCG and auto stocks ended on the gainers side.
The market breadth was negative with 922 scrips advancing, compared to 1,993 stocks declining and 112 remaining unchanged.
The major gainers on the Sensex were: M&M, up 2.85 percent at Rs.626.40; ITC, up 2.1 percent at Rs.162.65; Maruti Suzuki, up 1.68 percent at Rs.1,255.90 and Tata Motors, up 1.61 percent at Rs.1,007.45.
The losers included Reliance Com, down 3.61 percent at Rs.156; Jaiprakash Associates, down 3.54 percent at Rs.108.95; RIL, down 3.05 percent at Rs.918.85 and Jindal Steel, down 2.11 percent at Rs.685.25.
Concern about the US economic recovery led to a widespread sell-off in other Asian markets. Weak consumer demand data in the US sparked off fears of a further slowdown in the world’s largest economy. The markets were also tracking the fall in key US indices in Monday’s trade.
The Japanese Nikkei fell a sharp 3.55 percent to close at 8,824.06 points.
The Chinese Shanghai Composite index ended trade 0.52 percent lower at 2,638.8 points, while Hong Kong’s Hang Seng was down 0.97 percent at 20,536.49 points.
European markets were ruling lower, aping the bearish sentiment in Asian and US markets.
At the closing bell here, the FTSE 100 was trading 0.99 percent lower at 5,150.25 points
The German DAX was ruling 0.82 percent down at 5,864.17 points, while the French CAC 40 was trading 1.06 percent lower at 3,450.19 points.