Sensex closes 297 points lower amid global uncertainties
August 26th, 2011 - 6:47 pm ICT by IANS
Mumbai, Aug 26 (IANS) Huge selling pressure across the market breadth Friday, especially in realty and metal stocks, pulled down a benchmark index for Indian equities which closed 297 points lower amid uncertain global cues.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,155.55 points, closed at 15,848.83 points, down 297.5 points or 1.84 percent from its previous close at 16,146.33 points.
It fell to an intra-day low of 15,765.53 points in the afternoon, hitting a one-and-half year low.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended in the red, 1.9 percent down at 4,747.8 points.
Broader markets also moved lower. The BSE midcap index closed 2.25 percent down, while the BSE smallcap index ended 2.65 percent lower.
All 13 sectoral indices closed in the red while heavy selling was also seen in energy, PSU, banking and consumer durables stocks.
At the BSE, the market breadth was negative with 637 stocks advancing, 2,221 scrips declining and 118 remaining unchanged.
There were only three gainers on the 30-scrip Sensex: Hero MotoCorp, up 2.7 percent at Rs.1,952.45; M&M;, up 1.2 percent at Rs.704.65 and Infosys, up 0.68 percent at Rs.2,204.55.
The main losers included: Jaiprakash Associates, down 7.58 percent at Rs.54.90; DLF, down 5.76 percent at Rs.175.85; Tata Steel, down 4.77 percent at Rs.422.25 and RIL, down 4.61 percent at Rs.719.50
Asian markets closed mixed Friday ahead of a speech by Federal Reserve chief Ben Bernanke which, traders hope, will see some hints on plans to kick-start the ailing US economy.
The benchmark Japanese Nikkei closed 0.29 percent higher at 8,797.78 points, while Hong Kong’s Hang Seng ended 0.86 percent down at 19,582.88 points.
The Chinese Shanghai Composite index was down 0.12 percent at 2,612.19 points.
Negative cues from Europe too did not help sentiments. Stocks slipped in Europe as traders speculated about what measures US Federal Reserve Chairman Ben Bernanke would indicate in a speech scheduled later Friday.
The FTSE 100 of UK was ruling 0.48 percent down at 5,106.4 points, while the German DAX fell 1.85 percent at 5,480.91 points.
The French CAC 40 was down 0.75 percent at 3,095.51 points.
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- Sensex closes 176 points higher despite dull global cues (Roundup) - Jun 23, 2011
- Sensex falls for third straight week on negative cues (Weekly Market Review) - May 12, 2012
- Sensex continues to trade listless (Lead) - Jun 09, 2011
- Sensex in red, realty, banking under selling - Mar 26, 2012
- Sensex rallies on global cues, closes 567 points higher - Aug 29, 2011
- Sensex plunges 425 points to end below 16,000 points - Nov 21, 2011
Tags: asian markets, benchmark index, bse, consumer durables, dlf, hang seng, infosys, market breadth, metal stocks, national stock exchange, reserve chief, ril, rs 1, rs 2, rs 422, sectoral indices, sensitive index, shanghai composite index, smallcap index, tata steel