Sensex slips for third consecutive day, closes 129 points lower (Roundup)

February 10th, 2011 - 6:52 pm ICT by IANS  

Sensex Mumbai, Feb 10 (IANS) A benchmark index for Indian equities markets Thursday closed 129 points lower — its third consecutive fall — as traders continued to sell in the wake of fears of another interest rate hike by the central bank in a bid to combat inflation. Asian cues too were not supportive.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,603.29 points, closed at 17,463.04 points, down 129.73 points or 0.74 percent from its previous close at 17,592.77 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange ended 0.53 percent lower at 5,225.8 points.

Broader markets were also in the red, with the BSE midcap index closing 0.11 percent down and the BSE small cap index ending 0.86 percent lower.

Telecom, IT, realty and energy stocks were in the red, while auto and power scrips gained.

The market breadth was negative, with 1,032 stocks advancing compared to 1,811 scrips on the decline. A total of 125 stocks remained unchanged.

Among gainers on the 30-scrip Sensex were: Reliance Infra, up 9.45 percent at Rs.585.25; Tata Motors, up 5.25 percent at Rs.76.15; Reliance Communications, up 2.37 percent at Rs.1,102.90; and DLF, up 1.45 percent at Rs.245.50.

Major losers included SBI, down 3.64 percent at Rs.2,496.65; Bharti Airtel, down 2.8 percent at Rs.323.05; Sterlite Industries, down 2.53 percent at Rs.156.05; and BHEL, up 2.48 percent at Rs.2,042.85.

According to data available with market regulator SEBI, foreign institutional investors sold scrips worth $62.79 million Thursday.

Other Asian markets closed in the red as well as the after-effects of China’s latest interest rate hike continued to be felt in bourses across the region.

The Japanese Nikkei shed 0.11 percent to close at 10,605.65 points, while Hong Kong’s Hang Seng was ended 1.97 percent down at 22,708.62 points.

A benchmark of Chinese markets, Shanghai Composite index, shut shop 1.59 percent higher at 2,818.16 points.

European markets were trading weak Thursday as financial sector stocks declined after Credit Suisse reduced its dividend and lowered its profit outlook.

Around mid-day, the French CAC 40 was trading 0.1 percent down at 4,103.97 points, while the UK’s FTSE was ruling 0.28 percent lower at 6,074.33 points.

The German DAX was ruling flat at 7,323.65 points.

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