Thaindian News

Mumbai, April 18 (IANS) Indian equities markets saw early gains wiped out with a key benchmark index falling 295 points by end of Monday’s trade. Broader markets, too, slipped in the red, with mid-to-lower value scrips following the front-line stocks as all-round profit booking gained strength.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,389.74 points, closed at 19,091.17 points, down 295.65 points or 1.53 percent from its previous close at 19,386.82 points.

It had risen to an intra-day high of 19,649.22 points in early trade.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange too ended in the negative, at 5,729.1 points, down 1.64 percent.

Broader markets were in the red as well with the BSE midcap index closing 1.29 percent down and the BSE small cap index down 0.81 percent.

Realty, IT, telecom and capital goods stocks were among the major losers. All the 13 sectoral indices on the BSE ended in the red.

Among major gainers on the Sensex were Hero Honda, up 1.8 percent at Rs.1,863.75; Hindustan Unilever, up 1.65 percent at Rs.280.30; Bajaj Auto, up 1.09 percent at Rs.1,433.15; and ONGC, up 0.66 percent at Rs.287.85.

The losers included DLF, down 4.69 percent at Rs.233.55; TCS, down 3.43 percent at Rs.1,149.70; Jaiprakash Associates, down 3.13 percent at Rs.96; and Tata Steel, down 2.92 percent at Rs.611.95.

The market breadth was negative with 1,083 stocks advancing, 1,826 on the decline and 103 remaining unchanged.

According to data available with market regulator SEBI, foreign institutional investors were net buyers, lapping up scrips worth $41.42 million Monday.

Asian markets were pulled down by the latest monetary tightening by the Chinese central bank to contain inflation.

The Japanese Nikkei average closed 0.36 percent down at 9,556.65 points, while the Shanghai composite index of the Chinese stock exchanges moved up 0.22 percent to close at 3,057.33 points.

The Hang Seng of the Hong Kong stock exchange ended in the red at 23,830.31 points, 0.74 percent lower.

AT the European stock markets, concerns on banks exposure to several Euro zone sovereign debt weighed heavy on investors. Also the scenario of Finalnd’s True Finns party gaining a significant position in a coalition government, post the national elections worried traders.

The True Finns have said they would oppose further bailout of several European countries.

Around midday, the French CAC 40 was trading 1.47 percent lower at 3,916.18 points, while Britain’s FTSE was ruling 1.03 percent down at 5,934.1 points.

The German DAX was ruling 1.21 percent down at 7,091.19 points.