Sensex dips 204 points; in red for fifth straight day (Roundup)

December 20th, 2011 - 7:37 pm ICT by IANS  

Sensex Mumbai, Dec 20 (IANS) A benchmark index for Indian equities Tuesday closed in the red for the fifth straight day, falling 204 points on continued selling by foreign funds amid uncertain global cues and absence of any policy initiative to revive domestic growth.

The benchmark indices have slumped to the lowest level in almost 28 months.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 15,436.12 points, ended the day at 15,175.08 points, down 204.26 points or 1.33 percent from its previous close at 15,379.34 points.

The Sensex touched a high of 15,448.13 points and low of 15,135.86 points in intra-day trade.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended in the red for the fifth straight session. The Nifty closed 1.49 percent or 68.90 points down at 4,544.20 points.

Broader markets and most of the sectoral indices also ended in the red. The BSE midcap index slumped 1.86 percent while the BSE smallcap index closed 1.45 percent down.

There was heavy selling pressure in metal, realty, consumer goods, power and oil and gas stocks. The metal and the consumer goods indices of the BSE slumped almost 3.5 percent. Realty index fell 2.71 percent and the power index closed 2.59 percent down.

Prominent Sensex losers were: Jaiprakash Associates, down 7.26 percent at Rs.53.65; Tata Steel, down 5.27 percent at Rs.344.20; Tata Power, down 5.23 percent at Rs.81.60; Hero MotoCorp, down 5.16 percent at Rs.1811.10; and L&T;, down 5.14 percent at Rs.979.10.

Of the 30 Sensex scrips, only five closed in the positive territory. ONGC advanced 2.39 percent at Rs.253.20, HDFC Bank rose 1.98 percent at Rs.414.10. ITC was up 1.11 percent at Rs.199.55. And so were HDFC, up 0.69 percent at Rs.623.20; and Hindustan Unilever, 0.16 percent higher at Rs.396.90.

Other major Asian markets closed with marginal gains. Hong Kong’s Hang Seng index closed 0.06 percent higher at 18,080.20 points. Japan’s Nikkei advanced 0.49 percent at 8,336.48 points. However, China’s Shanghai Composite index fell 0.10 percent at 2,215.93 points.

European markets were also trading weak on continued uncertainties over the debt crisis.

Britain’s FTSE 100 was down 0.27 percent, while German DAX index was ruling 0.84 percent higher and the French CAC 40 was trading with a gain of nearly one percent in afternoon trade.

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