Thaindian News

Mumbai, July 20 (IANS) A benchmark index for the Indian equities markets Wednesday closed 151 points lower on all-round selling pressure as traders were disappointed from quarterly earnings results of companies, including blue-chip IT major Wipro.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,756.31 points, closed at 18,502.38 points, down 151.49 points or 0.81 percent compared to its previous close at 18,653.87 points.

It had fallen to 18,473.9 points in intra-day trade.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended lower at 5,567.05 points, down 0.83 percent.

Wipro fell by almost five percent in intra-day trade after the company reported a modest 1.2 percent rise in quarterly profits for April-June.

Some other companies whose quarterly earnings report came in below market expectations were LIC Housing Finance, Dr.Reddy’s Laboratories and Dish TV.

Broader markets too fell. The BSE midcap index slipped 0.88 percent, while the BSE smallcap index was down 0.36 percent.

The market breadth at the BSE was negative with 1,195 stocks advancing, 1,696 on the decline and 131 remaining unchanged.

Of the 13 sectoral indices on the BSE, FMCG was the only sector which saw some gains. Power, healthcare, consumer goods and auto stocks were among the major losers.

There were only four gainers on the 30-scrip Sensex: DLF, up 1.63 percent at Rs.243.75; ITC, up 0.93 percent at Rs.205.75; Maruti Suzuki, up 0.09 percent at Rs.1,164; and Hindustan Unilever, up 0.03 percent at Rs.331.10.

Top losers included Wipro, down 3.95 percent at Rs.398.60; Hindalco, down 2.71 percent at Rs.179.35; Jaiprakash Associates, down 2.51 percent at Rs.75.70; and Tata Power, down 1.98 percent at Rs.1,288.85.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $93.63 million Wednesday.

Global markets were, however, on the rise as most bourses tracked overnight gains on Wall Street. The US markets rose on news that policymakers in the world’s largest economy were close to an agreement on raising the debt ceiling.

In Asia, the Japanese Nikkei closed Wednesday closed 1.17 percent up at 10,005.9 points.

The Hang Seng of the Hong Kong stock exchange moved up 0.46 percent at 22,003.69 points, while the Chinese Shanghai composite index was down 0.1 percent at 2,794.2 points.

Among European bourses, Britain’s FTSE 100 was ruling 0.98 percent up at 5,846.77 points, and the French CAC 40 was ruling 1.37 percent higher at 3,745.48 points.

The German DAX was up 0.34 percent at 7,216.98 points.