Thaindian News

Mumbai, June 22 (IANS) A benchmark index for Indian equities markets Wednesday closed flat, while broader markets fell on a largely lacklustre trading day as investors treaded cautiously after Monday’s crash.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,659.37 points, closed at 17,550.63 points, down 9.67 points or 0.06 percent from its previous close at 17,560.3 points.

There was a lot of sideways movement seen in the Sensex. It had fallen 348 points Monday after a report that the tax department was seeking to re-negotiate a tax treaty with Mauritius to tax profits made by companies registered in the tax haven.

The Sensex touched an intra-day high of 17,678.88 points and fell to a low of 17,492.19 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange too ended on a dull note at 5,278.2 points, up 0.05 percent.

Broader markets fared much worse, with the BSE midcap closing 0.84 percent lower and the BSE smallcap index ending a similar 0.8 percent down.

The market breadth was negative, with 1,036 stocks advancing, 1,797 on the decline and 127 remaining unchanged.

Among gainers on the 30-scrip Sensex were: M&M;, up 2.39 percent at Rs.648.95; ONGC, up 2.05 percent at Rs.261; Cipla, up 1.99 percent at Rs.322.15 and Bajaj Auto, up 1.68 percent at Rs.1,341.20.

Prominent among the losers were Hindustan Unilever, down 3.42 percent at Rs.311.90; Maruti Suzuki, down 2.39 percent at Rs.1,119.05; Bharti Airtel, down 2.32 percent at Rs.381.75 and TCS, down 1.86 percent at Rs.1,083.60.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors Wednesday sold stocks worth $122.72 million.

Asian markets rose after Greece Prime Minister George Papandreou won a confidence vote taking him a step closer to pushing through austerity measures in the debt-ridden country for securing further financial aid from other major Euro economies.

The Nikkei of the Japanese stock exchange closed 1.79 percent higher at 9,629.43 points, while the Hang Seng of the Hong Kong stock exchange closed flat at 21,859.97 points.

The Chinese Shanghai composite index nudged 0.11 percent up at 2,649.32 points.

European bourses which had risen Tuesday following Papandreou’s electoral victory were ruling cautiously as traders were still concerned about obstacles to Greece being bailed out of its sovereign debt woes.

Around midday, Britain’s FTSE was down 0.41 percent at 5,751.39 points and the French CAC 40 was trading 0.36 percent lower at 3,863.29 points.

The German DAX was ruling flat.