By IANS,
Mumbai: Indian equities markets benchmark indices closed in the red this week on disappointing economic data, especially low industrial output coupled with stubbornly high inflation.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), lost 0.59 percent or 107.94 points in the largely low-volume trade this week.
The benchmark Sensex slumped 116.36 points or 0.63 percent to close at 18,268.54 points Friday.
Disappointing industrial output data dampened sentiments at the market on the last trading day of the week.
India’s industrial production grew at a much slower 6.3 percent in April as per the new series compared to 13.1 percent in April 2010, according to official data released Friday.
Situation was no different at the National Stock Exchange, where the 50-scrip S&P CNX Nifty, fell 0.64 percent to close at 5,485.8 points Friday.
Persistently high inflation has further complicated the problems for the economic policy makers.
Food inflation rose to more than a two-month high at 9.01 percent for the week ended May 28. Inflation has remained stubbornly high despite an aggressive monetary tightening policy adopted by the Reserve Bank of India during the last year and a half.
All broader markets as well as the sectoral indices also closed in the red Friday.
The BSE midcap index fell 0.34 percent at 6,898.28 points and the BSE smallcap index closed 0.46 percent down at 8,288.46 points.
The FMCG and the consumer goods indices lost over one percent. The Realty index fell 0.80 percent and the metal index closed 0.73 percent.
The market breadth was negative with 1,197 stocks advancing, 1,650 on the decline and 126 remaining unchanged.
There were only four gainers on the 30-scrip Sensex: Maurti Suzuki, up 1.03 percent at Rs.1,229.75; Hindalco, up 0.74 percent at Rs.184.45; ONGC, up 0.64 percent at Rs.266.90; and TCS, up 0.37 percent at Rs.1,188.65.
The losers were DLF, down 1.83 percent at Rs.230.90; ITC, down 1.69 percent at Rs.191.65; L&T, down 1.64 percent at Rs.1,693.70; and Reliance Infra, down 1.52 percent at Rs.544.35.
According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $32.66 million Friday.
Asian markets ended mixed. The Nikkei of the Japanese stock exchange closed 0.5 percent up at 9,514.44 points, while the Hang Seng of the Hong Kong stock exchange shed 0.84 percent to end at 22,420.37 points. The Chinese Shanghai composite index closed flat at 2,705.14 points.
European markets ended in the red on the fear of slowdown in the US economy.
Britain’s FTSE closed 1.55 percent down at 5,765.80 points. The French CAC 40 slumped 1.90 percent at 3,805.09 points and the German DAX ended the week 1.25 percent down at 7,069.90 points.