Sensex closes 74 points down; auto, realty stocks slump
November 14th, 2011 - 6:36 pm ICT by IANS
Mumbai, Nov 14 (IANS) A benchmark index for Indian equities markets closed 74 points down Monday due to selling pressure in auto, realty and metal stocks.
The 30-scrip sensitive index (Sensex) of the BSE, which opened with decent gains at 17,348.52 points, slumped into negative terrain in the last hour of trading and ended the day at 17,118.74 points, down 0.43 percent or 74.08 points from its previous close at 17,192.82 points.
The Sensex touched a high of 17,391.99 points and low of 17,094.43 points in the intra-day.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.40 percent down at 5,148.35 points.
At the broader markets, the BSE midcap index slumped 1.6 percent and the smallcap index closed 1.76 percent down.
The BSE realty index fell 2.56 percent and the metal index slumped 2.16 percent. The BSE auto index closed almost two percent down.
Mahindra and Mahindra tumbled almost six percent due to disappointing earnings. The company’s net profit declined to Rs.737.38 crore for second quarter of 2011-12 as compared to Rs.758.49 crore during the same quarter last year.
Tata Steel, down 4.03 percent at Rs.412.65; Maruti Suzuki, down 2.96 percent at Rs.1,027.85; SBI, down 2.48 percent at Rs.1,753.05 and DLF, down 2.30 percent at Rs.223.10 were among the major losers on the 30-scrip Sensex.
Prominent Sensex gainers included: Bharti Airtel, up 2.48 percent at Rs.405.30; Hero MotoCorp, up 1.67 percent at Rs.2,209.90; HDFC, up 1.45 percent at Rs.470.70 and Sun Pharma, up 1.30 percent at Rs.510.40.
Most other Asian markets closed in the positive. The Japanese Nikkei closed 1.05 percent higher at 8,603.70 points.
Hong Kong’s Hang Seng index climbed 1.94 percent at 19,508.20 points and China’s Shanghai Composite index advanced 1.92 percent at 2,528.71 points.
However, the European markets were trading in the red due to continued concerns over the sovereign debt crisis in the region.
Britain’s FTSE was ruling 0.22 percent lower at 5,533.09. The German DAX was trading 0.39 percent down at 6,033.25 points and the French CAC 40 was down 0.60 percent at 3,130.48 points.
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