SBI, ONGC pull Sensex 207 points lower (Roundup)
May 17th, 2011 - 6:33 pm ICT by IANS
Mumbai, May 17 (IANS) A benchmark index of Indian equities markets closed 207 points down Tuesday, with heavy selling in blue chip stocks like SBI and ONGC pulling down the index. Broader markets too ended lower.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,374.45 points, closed at 18,137.35 points, down 207.68 points or 1.13 percent from its previous close at 18,345.03 points Monday.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange ended trade at 5,438.95 points, down 1.09 percent.
While banking behemoth SBI’s scrip fell a whopping 7.78 percent following the release of disappointing financial results, ONGC dipped 6.71 percent on reports that the government had increased the company’s share of the fuel subsidy.
Broader markets too shut shop in the negative with the BSE midcap index ending 0.66 percent down and the BSE smallcap index down 0.61 percent.
Oil and gas, banking and auto stocks were among the top losing sectors Tuesday.
The market breadth was tilted towards the negative with 1,063 stocks advancing, 1,725 on the decline and 127 unchanged.
Among the gainers on the Sensex were: Jindal Steel, up 1.97 percent at Rs.643.15; Hindustan Unilever, up 1.6 percent at Rs.308.90; TCS, up 1.3 percent at Rs.1,142.50 and ITC, up 0.83 percent at Rs.187.65.
Among the losers were: SBI, down 7.78 percent at Rs.2,413.60; ONGC, down 6.71 percent at Rs.277.55; Hero Honda, down 3.39 percent at Rs.1,801.75 and RIL, down 2.53 percent at Rs.920.40.
Asian markets were a mixed bag as concerns of the Greece sovereign debt crisis and overnight fall at Wall Street weighed heavy on investors.
The Nikkei of the Japanese stock exchange closed on a flat note at 9,567.02 points, while Hong Kong’s Hang Seng ended 0.26 percent down at 22,901.08 points.
The Shanghai Composite index of the Chinese markets ended 0.13 percent up at 2,852.77 points.
European markets continued to trade weak on concerns that a headless International Monetary Fund could lead to a worsening of the sovereign debt crisis faced by countries like Greece.
IMF chief Dominique Strauss-Kahn has been arrested in New York over sexual assault charges.
Britain’s FTSE was up 0.05 percent at 5,926.55 points.
Around midday, the French CAC 40 was nudged up 0.04 percent at 3,991.46 points, while the German DAX was ruling 0.5 percent down at 7,350.53 points.
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Tags: asian markets, auto stocks, benchmark index, blue chip stocks, bombay stock exchange, chinese markets, debt crisis, european markets, fuel subsidy, hang seng, hero honda, japanese stock, market breadth, national stock exchange, ril, rs 2, sensitive index, shanghai composite index, smallcap index, sovereign debt