Markets in red, Sensex sheds 370 points (Roundup)

April 28th, 2009 - 6:51 pm ICT by IANS  

Sensex Mumbai, April 28 (IANS) Indian equities were down in the dumps Tuesday, with a key index losing 370 points over its previous close as investors booked profits across sectors.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 11,371.34 points, fell 370 points or 3.25 percent from the previous close to end trade at 11,001.75 points.

However, the S&P CNX Nifty of the National Stock Exchange (NSE) shed 3.17 percent to close at 3,362.35 points.

Broader market indices also ended in the red, with the BSE midcap index moving down 3.73 percent and the BSE smallcap index closing 3.45 percent lower.

All the 13 sectoral indices on the BSE were in the negative terrain, with the indices for realty, metal and banking stocks gaining the most.

There were no gainers on the 30-scrip Sensex.

Among the losing scrips were DLF, down 7.81 percent at Rs.224.80; Sterlite, down 7.73 percent at Rs.383.20; Tata Steel, down 7.56 percent at Rs.234.30; and HDFC, down 7.36 percent at Rs.1,671.05.

Market breadth was negative, with 1,807 scrips declining, 654 stocks advancing and 81 remaining unchanged.

“This profit taking was quite expected with even global bourses coming under selling pressure. But such corrections are healthy over a period of time for the markets,” said Jagannadham Thunuguntla, equity head at stock brokerage SMC Capitals.

Other Asian markets were also trading volatile, with a key Japanese index - the Nikkei of the Tokyo Stock Exchange - fall steeply at 8,493.77 points, about 232.57 points lower than its previous close.

However, the Hang Seng, a key index of the Hong Kong Stock Exchange, ended in the red at 14,555.11 points, 285.31 points below its previous close.

European markets fell again with the FTSE in Britain trading 77.45 points lower than its previous close, and its French peer CAC 40 ruling 70.60 points down.

Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed that foreign funds were net buyers during April 1-27, lapping up scrips worth $967.1 million. Data for Tuesday was not available.

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