Late sell-off pulls down Sensex

August 24th, 2011 - 6:30 pm ICT by IANS  

Mumbai, Aug 24 (IANS) A late sell-off pulled down a benchmark index for Indian equities markets Wednesday to close 213 points lower as traders booked profits after a recent rally.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange, which opened at 16,490.78 points, closed at 16,284.98 points, down 213.49 points or 1.29 percent compared to its previous close at 16,498.47 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also closed lower, 1.21 percent down at 4,888.9 points.

The BSE midcap index closed 0.54 percent down, while the BSE small cap index ended 0.51 percent lower.

Auto, metal, banking and capital goods stocks faced bulk of the selling pressure. All 13 sectoral indices on the BSE closed in the red.

The market breadth at the BSE was negative, with 1,313 stocks advancing, 1,528 scrips on the decline and 112 remaining unchanged.

There were only three gainers on the 30-scrip Sensex: Hindustan Unilever, up 0.71 percent at Rs.319.50; Hindalco, up 0.38 percent at Rs.146.30 and HDFC, up 0.12 percent at Rs.646.

The main losers included Coal India, down 4.61 percent at Rs.373.85; Tata Power, down 4.51 percent at Rs.1,036.20; Tata Steel, down 4.28 percent at Rs.455.40 and Tata Motors, down 3.9 percent at Rs.700.70.

Traders at Asian markets continued to be cautious about the health of the US economy and worsening eurozone debt crisis.

The benchmark Japanese Nikkei closed 1.07 percent lower at 8,639.61 points while the Chinese Shanghai Composite index ended 0.51 percent lower at 2,541.09 points.

Hong Kong’s Hang Seng ended 2.06 percent lower at 19,466.79 points.

European markets rose ahead of a key address by US Federal Reserve chairman Ben Bernanke, hoping that the US central bank could indicate measures to pump in money into the faltering economy.

The FTSE 100 of UK was ruling flat at 5,132.08 points, while the German DAX rose 0.78 percent at 5,575.29 points.

The French CAC 40 was up 0.4 percent at 3,096.71 points.

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