By IANS,
Mumbai : A benchmark Indian equities index Friday slipped 271 points to close below the 17,000-mark on selling by investors amid growing concerns about the European financial crisis.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,267.25 points, ended at 16,994.6 points, 271.27 points or 1.57 percent down from its previous close at 17,265.87 points.
However, compared to last week’s close, the Sensex gained 1.34 percent — its first in three weeks.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,093.5 points, down 1.65 percent from its previous close.
Broader markets also underwent correction, with the BSE midcap index closing 1.1 percent down and the BSE small cap index ending 1.39 percent lower.
Metal, realty, and energy scrips came under selling pressure, while healthcare and FMCG stocks saw some buying interest.
Among gainers on the 30-scrip Sensex were Bharti Airtel, up 2.24 percent at Rs.264.45; ITC, up 0.68 percent at Rs.268.15; Grasim, up 0.25 percent at Rs.2,637.65; and ACC, up 0.23 percent at Rs.892.40.
Prominent losers included Tata Steel, down 4.66 percent at Rs.548.55; SBI, down 4 percent at Rs.2,222.65; Sterlite Industries, down 3.82 percent at Rs.701.40; Hindalco, down 3.34 percent at Rs.163.60; and RIL, down 2.64 percent at Rs.1,043.55.
According to data with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net buyers Friday, having bought scrips worth $19.08 million.
Cues remained depressed in Asia and European markets. Analysts and investors were wary of the fallout of the European financial crisis.
Hong Kong’s Hang Seng closed 1.6 percent lower at 20,145.43 points, while the Chinese Shanghai Composite index ended 0.51 percent down at 2,696.63 points.
The Japanese Nikkei shut shop 1.49 percent down at 10,462.51 points. The South Korean Kospi managed to close flat at 1,695.63 points.
In Europe, Britain’s key index FTSE 100 was ruling 1.72 percent down at 5,340.25 points.
The French CAC 40 too was trading 2.52 percent lower at 3,637.64 points and the German DAX was at 6,169.4 points, down 1.32 percent.