Sensex apes global peers, ends 434 points lower


Mumbai : A key benchmark index for Indian equities Friday shut shop 434 points lower than its previous close, aping global peers that remained depressed over fears of rising sovereign debt in Europe and poor US job data.

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The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,222.56 points, closed at 15,790.93 points, down 434.02 points or 2.68 percent from its previous close at 16,224.95 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 4,718.65 points, against the previous close at 4,845.35 points, a loss of 2.61 percent or 126.7 points.

The selling pressure spread to broader markets as well with the BSE midcap index ending 2.6 percent down and the BSE small cap index 3.25 percent lower.

All 13 BSE sectoral indices were in the red, with realty, metal, energy, banking and state-run company scrips losing the most.

The market breadth was negative, with only 487 stocks advancing against 2,368 scrips declining and 47 remaining unchanged.

There was only one gainer on the 30-scrip Sensex — Tata Power, which ended 0.8 percent higher at Rs.1,286.05.

Top losers included Hindalco, down 5.51 percent at Rs.138.10; Tata Steel, down 4.65 percent at Rs.550.45; ONGC, down 4.54 percent at Rs.1,087.75; and Jaiprakash Associates, down 4.46 percent at Rs.125.25.

According to data with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net sellers Friday having sold scrips worth $9.22 million.

Sovereign debt problems in some European countries coupled with a rise in weekly jobless claims in the US spooked other major Asian markets with most investors doubting the potential of an economic recovery in the developed world.

The benchmark Japanese index, Nikkei, closed 2.89 percent lower at 10,057.09 points, and the Hang Seng of the Hong Kong Stock Exchange ended 3.33 percent down at 19,665.08 points.

The Chinese Shanghai composite index too was in the negative territory, at 2,939.4 points, 1.87 percent down, while the Korean Kospi closed 3.05 percent lower at 1,567.12 points.

European markets, which opened on a weak note continued to trade with a negative bias.

At the closing bell in Mumbai, FTSE 100, the benchmark index of the London Stock Exchange, was ruling 2.05 percent lower at 5,034.1 points, while the French CAC 40 index was down 2.24 percent at 3,606.56 points.

Its German peer DAX was also ruling lower at 5,460.77 points, down 1.31 percent.