Sensex gives up gains, traders book profits

October 11th, 2011 - 6:24 pm ICT by IANS  

Sensex Mumbai, Oct 11 (IANS) A benchmark index for Indian equities Tuesday gave up its intra-day gains and ended in the red as traders booked profits after two straight positive sessions and heavyweight Infosys fell ahead of quarterly results.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,668.15 points, closed at 16,536.47 points — down 20.76 points or 0.13 percent from its previous close at 16,557.23 points.

It had risen almost 217 points in the morning.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also closed in the red, ending the day at 4,974.35 point, down 0.11 percent or 5.25 points.

Broader markets also closed on a dull note as profit booking eroded intra-day gains.

The BSE midcap index closed 0.49 percent up while the BSE small cap index ended 0.22 percent up. The BSE 500 closed the day flat.

The market breadth at the BSE was positive with 1,558 stocks on the advance, compared to 1,236 declining and 115 remaining unchanged.

Major losers on the 30-scrip Sensex were: Infosys, down 3.17 percent at Rs.2,509.20; TCS, down 2.26 percent at Rs.1,041.20; Wipro, down 2.04 percent at Rs.341.45 and ONGC, down 1.88 percent at Rs.268.35.

Prominent gainers included: Tata Motors, up 3.64 percent at Rs.176.75; NTPC, up 3.49 percent at Rs.176.45; Bharti Airtel, up 3.18 percent at Rs.374.80; and Bajaj Auto, up 1.74 percent at Rs.1,581.10.

Asian markets were ruling higher buoyed by China’s decision to support its stock markets by buying shares of banks, while hopes of a resolution in creating a fund for bailing out debt-ridden Euro zone economies gained strength.

Among Asian bourses, the Japanese Nikkei closed 1.95 percent up at 8,773.68 points, while Hong Kong’s Hang Seng rose 2.43 percent to close at 18,141.59 points.

The Chinese Shanghai composite index ended dull at 2,348.52 points, up 0.16 percent.

European markets were however trading in the red ahead of a vote by the Slovakian parliament on the expansion of the Euro zone bailout fund — the European Financial Stability Facility.

Around mid-day Britain’s FTSE was down 0.79 percent at 5,356.3 points, the German DAX was ruling 0.79 percent down at 5,801.03 points.

The French CAC 40 was ruling 0.64 percent down at 3,141.14 points.

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