By IANS
Mumbai : Indian equity markets Tuesday hovered between positive and negative zones caused by weak global markets. Auto, banking and IT stocks ended in the red while metal stocks continued their rally.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange ended up 2.84 points or 0.02 percent at 18,663.16.
The broader 50-share S&P CNX Nifty on the National Stock Exchange was up 20.40 points or 0.37 percent at 5,483.90.
On BSE, 1985 shares advanced, 961 shares declined and 62 shares were unchanged. BSE Mid-cap index ended up 0.83 percent at 8,071.29 points.
The market breadth was strong on BSE since 1,892 scrips advanced as compared to 890 that declined. A total of 36 stocks remained unchanged. Out of the 30 stocks of the Sensex pack, 16 closed in the green.
Asian stocks slipped on fresh worries about the health of the US financial sector. In Asia, key benchmark indices in Hong Kong, China, Japan and Singapore were down by 0.82 percent to 1.55 percent. However, South Korea’s Seoul Composite index was up 0.38 percent.
Metal stocks rose. Jindal Steel and Power was up 13.25 percent to Rs.2,586.35, Hindalco Industries went up by 1.93 percent to Rs.181.95.
Tata Steel, world’s sixth largest steel maker, rose 1.87 percent to Rs.817.80. National Aluminium Co went down by 2.26 percent to Rs.411 and Sterlite Industries slipped by 1.37 percent to Rs.836.30.
Auto stocks declined amidst reports that international giant Hyundai was planning to introduce a low-cost family car on the lines of Tata Nano.
India’s biggest carmaker in terms of sales, Maruti Suzuki India declined 2.7 percent to Rs.872.35. Tata Motors, India’s top commercial vehicle maker in terms of sales, declined 1.87 percent to Rs.755.50.
Hero Honda Motors declined 5.01 percent to Rs.731.05, Bajaj Auto fell by 2.24 percent to Rs.2,404 and Mahindra and Mahindra slipped to 2.24 percent to Rs.680.55.
Banking stocks also took the beating. India’s largest private sector bank by assets ICICI Bank fell 1.69 percent to Rs.1,189.80.
HDFC Bank declined 2.14 percent to Rs.1,515.10 and State Bank of India fell by 1.9 percent to Rs.28.35.
Shares in software services exporters also took a beating due to the gloomy economic outlook in the US, which contributes to more than half of their revenue.
Tata Consultancy Services went down by 1.43 percent to Rs.962, Wipro slipped by 1.35 percent to Rs.458, Satyam Computer Services went down by 0.32 percent to Rs.435.30 and Infosys edged lower by 1.6 percent to Rs.1,618.90.