Sensex ends 441 points lower on Egypt turmoil, high inflation (Roundup)

February 4th, 2011 - 7:26 pm ICT by IANS  

Sensex Mumbai, Feb 4 (IANS) A benchmark index for Indian equities markets Friday closed 441 points lower as a combination of dampening factors, including political turmoil in Egypt and high inflation, weighed on traders, resulting in them dumping stocks.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,450.07 points, closed at 18,008.15 points - down 441.16 points or 2.39 percent from its previous close at 18,449.31 points.

The Sensex at one point, fell below the 18,000-point level.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too was in the red, trading 2.37 percent lower at 5,395.75 points.

Broader markets were flat, with the BSE midcap closing down 0.05 percent, and small cap indices ending 0.15 percent lower.

Realty, FMCG, IT and telecom scrips were among major losers while consumer durables saw some buying.

The market breadth was negative, with 873 stocks advancing compared to 2,003 scrips on the decline. A total of 106 stocks remained unchanged.

There was only one gainer on the 30-scrip Sensex: Bajaj Auto, up 1.27 percent at Rs.1,226.80.

Major losers included M&M, down 5.31 percent at Rs.668.35; ITC, down 4.23 percent at Rs.152.90; Reliance Infra, down 3.76 percent at Rs.678 and Tata Power, up 3.63 percent at Rs.1,183.

According to data available with market regulator SEBI, foreign institutional investors bought scrips worth $145.04 million Friday.

Most other Asian markets like Hong Kong and China were closed on account of the annual Lunar New Year.

The Japanese Nikkei moved up 1.08 percent to close at 10,543.52 points.

European markets nudged up ahead of the weekly employment data from the US, which is expected to be positive and comments from the Federal Reserve chairman that the world’s largest economy’s recovery should pick up speed this year.

Around mid-day, the French CAC 40 was trading 0.37 percent higher at 4,051.7 points, while the UK’s FTSE was ruling 0.35 percent up at 6,004.31 points.

The German DAX was ruling 0.29 percent up at 7,214.55 points.

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