Sensex edges lower on lacklustre trading day
October 17th, 2011 - 6:26 pm ICT by IANS
Mumbai, Oct 17 (IANS) A benchmark index for Indian equities Monday closed 58 points lower as traders took a breather after last week’s rally. Trading was largely lacklustre across the market breadth.
The 30-scrip sensitive index (Sensex) of the BSE opened at 17,176.05 points and closed at 17,025.09 points, down 57.6 points or 0.34 percent from its previous close at 17,082.69 points.
The Sensex had soared over 5 percent last week.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange also closed on a lacklustre note, ending the day at 5,118.25 points, down 0.27 percent or 14.05 points. The Nifty too had gained close to 5 percent last week.
Broader markets too ended on a subdued note with the BSE 500 index edging lower. The BSE midcap index closed flat while the BSE smallcap was up 0.22 percent.
The market breadth at the BSE was mixed, with 1,320 stocks advancing, 1,432 declining and 126 unchanged.
Prominent Sensex gainers Friday included: Tata Motors, up 4.5 percent at Rs.188; Maruti Suzuki, up 2.39 percent at Rs.1,053.05; Bajaj Auto, up 1.27 percent at Rs.1,650.75 and ONGC, up 1.07 percent at Rs.269.50.
Major losers were: RIL, down 3.88 percent at Rs.833.20; NTPC, down 2.63 percent at Rs.168.45; L&T;, down 1.98 percent at Rs.1,379.90 and Wipro, down 1.76 percent at Rs.356.80.
Asian markets rose Monday with investors reacting positively to reports of US retail sales — a key indicator of consumer spending — registering its strongest growth in 7 months.
Also the G20 allowing the International Monetary Fund to play a greater role in containing the Euro zone debt crisis boosted sentiments in Asia.
The Japanese Nikkei Monday closed 1.5 percent higher at 8,879.6 points, while Hong Kong’s Hang Seng ended 2.01 percent up at 18,873.99 points.
The Chinese Shanghai composite index closed flat at 2,440.4 points.
European bourses slipped after starting higher after German Finance Minister Wolfgang Schaeuble said the upcoming European Union summit would not be able to present a solution to the euro-zone debt crisis.
Around mid-day, Britain’s FTSE was trading 0.52 percent higher at 5,494.91 points, while the French CAC 40 was ruling flat at 3,220.58 points.
The German DAX was ruling 0.12 percent down at 5,960.24 points.
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Tags: asian markets, benchmark index, bse, debt crisis, euro zone, european bourses, g20, german finance minister, hang seng, international monetary fund, market breadth, national stock exchange, ntpc, ongc, sensitive index, shanghai composite index, smallcap, tata motors, wipro, wolfgang schaeuble