Sensex slips 164 points to close at a three-month low (Roundup)
May 25th, 2011 - 6:27 pm ICT by IANS
Mumbai, May 25 (IANS) A benchmark index for Indian equities markets Wednesday closed 164 points lower to close at a three-month low. Broader indices too closed in losses.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,976.36 points, closed at 17,847.24 points, down 164.73 points or 0.91 percent from its previous close at 18,011.97 points.
The Sensex had slipped below the 18,000-level on Monday for the first time in about two months.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange also shut shop in the red at 5,348.95 points, down 0.85 percent.
Broader markets edged lower with the BSE midcap index closing 0.57 percent down and the BSE smallcap index 0.65 percent lower.
Capital goods, IT, realty and telecom stocks were among major losers at this time, while consumer durables scrips rose.
The market breadth was negative with 1,080 stocks advancing, 1,649 on the decline and 149 unchanged.
According to data available with the Securities and Exchange Board of India, foreign institutional investors bought scrips worth $7.77 million Wednesday.
Gainers on the 30-scrip Sensex included: Jindal Steel, up 1.13 percent at Rs.634.85; Tata Motors, up 1 percent at Rs.1,133.50; ITC, up 0.91 percent at Rs.189; and NTPC, up 0.33 percent at Rs.167.65.
Among the major losers were: DLF, down 4.04 percent at Rs.210.10; Reliance Communications, down 2.48 percent at Rs.80.65; L&T;, down 2.24 percent at Rs.1,604.40; and TCS, down 2.09 percent at Rs.1,127.55.
Asian markets were in the red with concerns of a slowing Chinese economy continuing to weigh on the region’s bourses.
The Nikkei of the Japanese stock exchange closed 0.57 percent down at 9,422.88 points, while Hong Kong’s Hang Seng pared intra-day losses to end flat at 22,747.28 points.
The Shanghai Composite index of the Chinese markets closed 0.91 percent lower at 2,741.74 points.
European markets recovered from opening losses with traders buying banking stocks, which were battered in previous sessions.
Britain’s FTSE was down 0.14 percent at 5,850.16 points.
Around midday, the French CAC 40 fell 0.28 percent at 3,905.94 points, while the German DAX shed 0.25 percent at 7,132.75 points.
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Tags: asian markets, benchmark index, bombay stock exchange, capital goods, chinese economy, chinese markets, consumer durables, european markets, exchange board, foreign institutional investors, japanese stock, market breadth, national stock exchange, ntpc, scrips, securities and exchange board of india, sensitive index, shanghai composite index, tata motors, telecom stocks