Indian markets end dull, global cues mixed

July 19th, 2010 - 8:13 pm ICT by IANS  

Sensex Mumbai, July 19 (IANS) A benchmark index for Indian equities ended on a tepid note Monday as trading remained tardy throughout the day while certain stocks gained amid mixed global cues.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,914.12 points, ended at 17,928.42 points, 27.4 points or 0.15 percent down from its previous close at 17,955.82 points.

The TCS scrip closed 6.16 percent higher at Rs.832.40 following the company’s announcement Thursday that net profit had increased 24 percent to Rs.1,906 crore for the quarter ended June 30.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also followed the Sensex to close at 5,386.45 points, down 0.14 percent from its previous close at 5,393.9 points.

Broader markets indices also were subdued, with the BSE midcap index ending 0.2 percent up and the BSE smallcap index 0.14 percent higher.

PSU stocks were the top gainer, while some banking and consumer durables scrips saw buying. FMCG, realty and banking stocks lost the most.

The market breadth was positive, with 1,506 scrips advancing, compared to 1,399 stocks declining, and 116 remaining unchanged.

Among the gainers on the Sensex were NTPC, up 2.22 percent at Rs.202.65; Reliance Communications, up 2.22 percent at Rs.191.25; Hindalco, up 1.47 percent at Rs.152.35; and L&T, up 1.14 percent at Rs.1,892.10.

Prominent losers included ITC, down 2.51 percent at Rs.290.85; Sterlite Industries, down 1.51 percent at Rs.163.60; DLF, down 1.41 percent at Rs.315.15; and Maruti Suzuki, down 1.12 percent at Rs.1,364.15.

Other major Asian markets ended mixed.

Japanese markets were closed Monday, while the South Korean Kospi ended 0.37 percent down at 1,731.95 points.

Hong Kong’s Hang Seng ended 0.79 percent lower at 20,090.95 points tracking US markets Friday losses.

The the Shanghai Composite index, rebounded from intra-day lows as traders took hope from Chinese Premier Wen Jiabao’s statement last week that the country will maintain stability of its macroeconomic policies in the second half of this year.

Buying interest returned to European bourses amid talks of mergers and acquisitions between some top firms.

Expectations of positive second quarterly results and good buys in mining stocks pushed the FTSE up to 5,190.63 points, up 0.62 percent.

The French CAC 40 was trading 0.72 percent higher at 3,525.29 points, while its German peer the DAX was ruling 0.59 percent up at 6,076.16 points.

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