Sensex edges lower, broader markets end flat on negative global cues (Roundup)

June 8th, 2011 - 6:10 pm ICT by IANS  

Sensex Mumbai, June 8 (IANS) A benchmark index for Indian equities markets Wednesday closed 101 points lower while broader market indices ended subdued as negative global cues dampened trader sentiments.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,448.4 points, closed at 18,394.29 points — down 101.33 points or 0.55 percent from its previous close at 18,495.62 points.

The Sensex was caught in a tight range, with a low of 18,365.94 points and a high of 18,505.10 points.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended lower at 5,526.85 points, down 0.53 percent.

Broader markets ended flat.

Healthcare, banking and auto stocks were among the major losers, while FMCG and consumer durable scrips gained.

The market breadth was negative with 1,385 stocks advancing, 1,431 on the decline and 135 remaining unchanged.

Gainers on the 30-scrip Sensex included Reliance Communications, up 2.45 percent at Rs.94.25; Hindustan Unilever, up 1.69 percent at Rs.313.40; NTPC, up 1.04 percent at Rs.174.90 and ITC, up 0.83 percent at Rs.194.70.

The losers were Hero Honda, down 3.6 percent at Rs.1,768.25; ONGC, down 2.33 percent at Rs.270.05; Hindalco, down 1.92 percent at Rs.184.15 and HDFC, down 1.63 percent at Rs.659.65.

According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $8.12 million Wednesday.

Global markets were in the red after US Federal Reserve chairman Ben Bernanke said Tuesday that the US economic recovery had slowed in recent weeks. Bernanke, however, did not spell out any measures to arrest the declining growth.

In Asia, the Nikkei of the Japanese stock exchange closed flat at 9,449.46 points, while the Hang Seng of the Hong Kong stock exchange was down 0.91 percent to end at 22,661.63 points.

The Chinese Shanghai composite index closed 0.22 percent up at 2,750.29 points.

European markets too fell as investors reacted negatively to Bernanke’s speech.

Britain’s FTSE was ruling 1.23 percent down at 5,792.75 points.

Around midday, the French CAC 40 fell 1.14 percent at 3,827.92 points, while the German DAX was down 1.44 percent at 7,000.74 points.

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