Profit booking pulls Sensex down 437 points (Roundup)June 8th, 2009 - 7:16 pm ICT by IANS
Mumbai, June 8 (IANS) Consolidation set in at Indian equities markets Monday, with a key index plummeting 437 points as investors resorted to profit booking.
The benchmark index of the Bombay Stock Exchange (BSE), Sensex, which opened at 15,153.21 points, closed at 14,665.92 points, 437.63 points or 2.9 percent lower than Friday’s close.
Like Sensex, the S&P CNX Nifty of the National Stock Exchange (NSE) too fell, shedding 3.42 percent from its last close to stand at 4,429.9 points.
Profit booking hurt several lesser scrips, with broader market indices taking more beating than the Sensex.
The BSE midcap index fell 5.45 percent from its previous close, while the BSE smallcap index was down 5.8 percent.
Of the 13 sectoral indices on BSE, only those for IT stocks saw some buying. Those for metal, realty and banking stocks came under selling pressure.
There were only four gainers on the Sensex: Wipro, up 3.36 percent at Rs.406; Infosys, up 2.52 percent at Rs.1,733.20; TCS, up 2.29 percent at Rs.738.10; and Hindustan Unilever, up 0.14 percent at Rs.251.30.
Losers included Jaiprakash Associates, down 10.4 percent at Rs.207.25; DLF, down 10.34 percent at Rs.365.85; Tata Steel, down 10.21 percent at Rs.416.55; and Reliance Communications, down 8.68 percent at Rs.309.45.
Frontline stocks like Reliance Infrastructure, SBI, Ranbaxy Labs, Tata Motors, Hindalco, ONGC, Grasim and ACC plunged 5-10 percent on the BSE.
The overall market breadth was negative, with 582 scrips advancing, 2,246 declining and 34 remaining unchanged.
Other Asian markets ended on a mixed note with a key index of Tokyo markets, the Nikkei, shutting shop in the green gaining 97.62 points to end trade at 9,865.63 points.
On the other hand, the Hang Seng, the primary index of the Hong Kong Stock Exchange, fell 426.14 points to 18,253.39 points.
Market sentiments across Europe seemed negative, with the FTSE in Britain trading 56.08 points lower at 4,382.48 points, and its French peer CAC 40 ruling 51.41 points down at 3,287.64 points.
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