Home Economy Profit booking pulls down Sensex, broader markets

Profit booking pulls down Sensex, broader markets

By IANS,

Mumbai : A benchmark index of the Indian equities markets Friday closed 139 points lower as traders booked profits across the market breadth. Broader markets too ended in the red.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,602.81 points, closed at 19,451.45 points — down 139.73 points or 0.71 percent from its previous close at 19,591.18 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange shut shop 0.69 percent lower at 5,845 points.

Broader markets too ended in the red, with the BSE midcap index down 1.25 percent and the BSE small cap index closing 1.4 percent lower.

FMCG and Capital goods stocks saw some gains, while realty, auto and PSU scrips were among the major losing sectors at this time.

Among major gainers on the Sensex were Bharti Airtel, up 1.56 percent at Rs.362.05; ITC, up 0.88 percent at Rs.184.10; L&T, up 0.51 percent at Rs.1,675.65; and BHEL, up 0.18 percent at Rs.2,200.75.

The losers included Jaiprakash Associates, down 3.77 percent at Rs.94.50; DLF, down 3.73 percent at Rs.259.45; Hindalco, down 2.99 percent at Rs.209.50; and Tata Motors, down 2.84 percent at Rs.1,254.95.

The market breadth was negative with 1,002 stocks advancing, 1,947 on the decline and 89 remaining unchanged.

Asian markets rose in spite of a strong earthquake hitting Japan, rattling nerves after the recent mega earthquake and tsunami devastated northeast coast of that country and damaged a nuclear power plant.

Some analysts attributed the rise to expectations that China’s central bank may not raise interest rates again in the immediate future.

The Japanese Nikkei average closed 1.85 percent higher at 9,768.08 points, while the Shangahi composite index of the Chinese stock exchanges ended 0.74 percent up at 3,030.2 points.

The Hang Seng of the Hong Kong stock exchange rose 0.47 percent to close at 24,396.07 points.

European stocks rose as traders hunted for bargains after Thursday’s sell off.

Around midday, the French CAC 40 was trading 0.95 percent higher at 4,066.39 points, while Britain’s FTSE was ruling 0.95 percent up at 6,064.31 points.

The German DAX was ruling 0.62 percent up at 7,223.24 points.