Markets close in red as global cues weaken (Roundup)March 17th, 2009 - 6:50 pm ICT by IANS
Mumbai, March 17 (IANS) In spite of a late surge, Indian equities closed marginally in the red Tuesday, with key index ending trade 0.89 percent lower.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index slipped during the afternoon trade, owing to a beating taken by banking and financial scrips, but managed to cut losses before the closing bell as investors bought into second rung stocks.
Sensex, which opened at 8,942.01 points, ended at 8,863.82 points - a decrease of 79.72 points or 0.89 percent.
Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) lost 0.71 percent from its last close to shut shop at 2,757.45 points.
The BSE midcap index ended 0.16 percent lower, while the BSE smallcap index was up 0.39 percent.
Of the 13 sectoral indices on the exchange, the indices for auto, power and FMCG stocks gained the most while banking stocks saw selling.
Among gainers on the 30 composite Sensex were: Tata Motors, up 3.4 percent at Rs.172.05; Hindalco, up 2.34 percent at Rs.43.70; ITC, up 1.64 percent at Rs.173.10; and Maruti Suzuki, up 1.55 percent at Rs.709.70.
Top losers were: TCS, down 4.31 percent at Rs.497.40; SBI, down 3.87 percent at Rs.949.60; Jaiprakash Associates, down 3.75 percent at Rs.74.35; and HDFC Bank, down 2.27 percent at Rs.825.40.
The overall market sentiment was mixed, with 1,330 stocks advancing, 1,137 scrips declining and 107 remaining unchanged.
Foreign Institutional investors sold shares to the tune of $3.5 million Tuesday.
Asian markets were a mixed bag with Japan’s benchmark Nikkei 225 Stock Average shutting shop 244.98 points or 3.18 percent higher than its previous close, while the Hang Seng, a key index of the Hong Kong Stock Exchange, closed 0.76 percent lower to end at 12,878.09 points.
European markets, which came online before Indian bourses ended trade, also turned red, with the FTSE in Britain ruling 0.39 percent lower than its last closing figure.
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