Sensex closes 68 points lower, pares intra-day losses

January 31st, 2011 - 6:38 pm ICT by IANS  

Sensex Mumbai, Jan 31 (IANS) A benchmark index for Indian equities markets Monday made up for most of its intra-day losses, though it still ended lower amid weak and volatile market sentiments.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,226.21 points, closed at 18,327.76 points, down 68.21 points or 0.37 percent from its previous close at 18,395.97 points.

It had slipped more than 357 points to 18,038.48 points in the morning session.

The 50-scrip S&P CNX Nifty of the National Stock Exchange ended flat at 5,509.55 points.

Broader markets closed in the red with the BSE midcap index closing 0.44 percent down and the BSE smallcap index 0.8 percent lower.

Realty, FMCG, telecom stocks were among top losers, while capital goods and power scrips saw gains.

The market breadth was negative, with 1,180 stocks advancing compared to 1,660 scrips on the decline, while 166 stocks remained unchanged.

Among gainers on the Sensex were ONGC, up 3.69 percent at Rs.1,177.55; BHEL, up 2.98 percent at Rs.2,217.50; Hindalco Industries, up 2.73 percent at Rs.229.40; and L&T, up 2.19 percent at Rs.1,641.15.

Losers included ITC, down 4.9 percent at Rs.83.35; ITC, down 3.18 percent at Rs.162.95; HDFC, up 2.73 percent at Rs.629.75; and Bharti Airtel, down 2.61 percent at Rs.318.55.

According to data available with market regulator SEBI, foreign institutional investors sold scrips worth $129.51 million Monday.

Other Asian stock markets were mostly in the red as political turmoil in Egypt led traders to dump riskier assets and crude oil prices rose to nearly $100 a barrel (barrel is 159 litres) on fears that oil supplies through the Suez canal could get disrupted.

The Japanese Nikkei closed 1.18 percent lower at 10,237.92 points, while Hong Kong’s Hang Seng shut shop 0.62 percent down at 23,470.9 points.

However, the Chinese Shanghai Composite index closed 1.35 percent higher at 2,789.82 points.

European markets were also in a slump as Egypt’s political turmoil cast a shadow across bourses.

Around mid-day, the German DAX was ruling 0.36 percent down at 7,077.24 points, while the French CAC 40 was trading 0.24 percent lower at 3,992.8 points.

The UK’s FTSE was ruling 0.22 percent down at 5,868.32 points.

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