Poor IIP figures pull Sensex down 116 points (Roundup)
June 10th, 2011 - 7:47 pm ICT by IANS
Mumbai, June 10 (IANS) A benchmark index for Indian equities markets Friday was dragged 116 points lower as industrial output figures disappointed traders, sparking off fears of a slowdown in the economy.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,390.41 points, closed at 18,268.54 points — down 116.36 points or 0.63 percent from its previous close at 18,384.9 points.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended at 5,485.8 points, down 0.64 percent.
Broader markets too ended in the red with the BSE midcap index closing 0.34 percent lower and the BSE smallcap index falling 0.46 percent.
India’s industrial production grew at a much slower 6.3 percent in April as per the new series compared to 13.1 percent in April 2010, according to official data released Friday.
The market breadth was negative with 1,197 stocks advancing, 1,650 on the decline and 126 remaining unchanged.
There were only four gainers on the 30-scrip Sensex: Maurti Suzuki, up 1.03 percent at Rs.1,229.75; Hindalco, up 0.74 percent at Rs.184.45; ONGC, up 0.64 percent at Rs.266.90 and TCS, up 0.37 percent at Rs.1,188.65.
The losers were DLF, down 1.83 percent at Rs.230.90; ITC, down 1.69 percent at Rs.191.65; L&T;, down 1.64 percent at Rs.1,693.70 and Reliance Infra, down 1.52 percent at Rs.544.35.
According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $32.66 million Friday.
Asian markets ended mixed.
The Nikkei of the Japanese stock exchange closed 0.5 percent up at 9,514.44 points, while the Hang Seng of the Hong Kong stock exchange shed 0.84 percent to end at 22,420.37 points.
The Chinese Shanghai composite index closed flat at 2,705.14 points.
European markets were headed for their sixth consecutive weekly loss as fears of an economic slowdown in the US persisted.
Britain’s FTSE was ruling 0.17 percent down at 5,846.34 points.
Around midday, the French CAC 40 was down 0.59 percent at 3,855.77 points, while the German DAX was ruling flat at 7,156.59 points.
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