Another weak day for Indian equities, Sensex slips 258 points (Roundup)

May 5th, 2011 - 7:04 pm ICT by IANS  

Sensex Mumbai, May 5 (IANS) Indian equities markets continued their losing streak Thursday with a benchmark index closing 258 points lower. Broader market indices too slipped into the red, pulled down by realty and power stocks.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) which opened at 18,484.71 points, closed at 18,210.58 points, down 258.78 points or 1.4 percent from its previous close at 18,469.36 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also shut shop 1.4 percent down at 5,459.85 points.

Broader markets ended on the lower side as well, with the BSE midcap index down 0.95 percent and the BSE small cap index down 1.23 percent.

There were only three gainers on the Sensex: Hero Honda, up 6.11 percent at Rs.1,697.90; RIL, up 0.26 percent at Rs.949.50 and Maruti Suzuki, up 0.06 percent at Rs.1,225.80.

Top losers included Reliance Communications, down 5.52 percent at Rs.89.05; Tata Power, down 5.21 percent at Rs.1,228.75; Reliance Infra, down 4.23 percent at Rs.616.60 and Sterlite Industries, down 3.27 percent at Rs.170.10.

According to data available with market regulator SEBI, foreign institutional investors were net sellers to the tune of $156.98 million.

The market breadth was negative with 867 stocks advancing, 1,931 on the decline and 128 remaining unchanged.

Asian markets ended on a dull note with expectations of a further rate hike by the Chinese central bank dampening sentiments.

The Chinese Shanghai composite index closed 0.22 percent up at 2,872.4 points, while Hong Kong’s Hang Seng closed 0.23 percent down at 23,261.61 points.

The Japanese stock exchange was closed on account of a holiday.

European markets were trading lower ahead of key monetary policy announcements by the European Central Bank and the Bank of England.

Britain’s FTSE was down 0.82 percent at 5,934.89 points.

Around midday, the French CAC 40 was trading 1.22 percent lower at 3,993.63 points, while the German DAX was ruling 0.72 percent down at 7,321.03 points.

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