Sensex pares some intra-day losses (Lead)

January 31st, 2011 - 2:46 pm ICT by IANS  

Sensex Mumbai, Jan 31 (IANS) A benchmark index for Indian equities markets Monday pared some of its intra-day lows in the afternoon, moving up from its intra-day lows although weakness persisted across the breadth of the market amid negative cues from Asia.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,226.21 points, was ruling at 18,277.89 points, down 118.08 points or 0.64 percent from its previous close at 18,395.97 points.

It had slipped more than 357 points to 18,038.48 points in the morning session.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too was in the red, trading 0.39 percent down at 5,490.65 points.

Broader markets were ruling lower as well with the BSE midcap index down 0.99 percent and the BSE smallcap index 1.26 percent lower.

IT, telecom and realty stocks were among top losers, while capital goods and energy scrips saw gains.

The market breadth was negative, with 958 stocks advancing compared to 1,800 scrips on the decline, while 106 stocks remained unchanged.

Among gainers on the Sensex were ONGC, Hindalco Industries, BHEL and M&M, while the losers included TCS, HDFC, Bharti Airtel and ITC.

Other Asian stock markets were mostly trading in the red as political turmoil in Egypt led to traders dumping riskier assets and crude oil prices rose to nearly $100 a barrel on fears that oil supplies through the Suez canal could get disrupted.

The Japanese Nikkei closed 1.18 percent lower at 10,237.92 points, while Hong Kong’s Hang Seng was ruling 0.62 percent down at 23,470.9 points.

However, the Chinese Shanghai Composite index was ruling 1.35 percent higher at 2,789.82 points.

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