Thaindian News

Mumbai, May 21 (IANS) A benchmark index for Indian equities recouped some of the intra-day losses as buying interest returned on good showing by cigarettes-to-hotels conglomerate ITC and ended 74 points or 0.45 percent lower than its previous close.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,317.94 points, closed at 16,445.61 points, 74.07 points or 0.45 percent down from its previous close at 16,519.68.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 4,931.15 points, down 0.33 percent from its previous close.

For the week ended Friday, the Sensex slipped 2.79 percent, while the Nifty shed 3.18 percent, on foreign fund outflows. Overseas investors Thursday sold $320.4 million- worth of equities.

Selling pressure intensified in broader markets, with the BSE midcap index ending 1.3 percent down and the BSE smallcap ndex 1.47 percent lower.

Power, realty, and capital goods stocks faced bulk of the selling pressure. The Sensex touched an intra-day low of 16,187 points and the Nifty 4,842 points during the day on negative cues from global bourses.

The market breadth was negative with 772 stocks advancing, compared to 2,025 on the decline, while 85 remained unchanged.

Among the gainers on the 30-scrip Sensex were FMCG and auto scrips. ITC was up 3.41 percent at Rs.271.50 after the company reported 27 percent rise in fourth-quarter profit from a year earlier on higher tobacco sales.

Among auto stocks M&M was up 3.34 percent at Rs.539.45 and Maruti Suzuki, 2.62 percent higher at Rs.1,242.15.

Telecom major Bharti Airtel also gained 2.19 percent to close at Rs.265.85.

Prominent losers included NTPC, down 4.2 percent at Rs.196.15; Hindalco, down 3.26 percent at Rs.151.55; Grasim Industries, down 2.92 percent at Rs.2,440; and Hindustan Unilever, down 2.7 percent at Rs.230.50.

In other Asian markets, traders sought to reduce exposure to riskier instruments in the wake of the European crisis.

The Japanese Nikkei ended 2.45 percent down at 9,784.54 points, while the Shanghai Composite index closed 1.08 percent higher at 2,583.52 points.

Hong Kong and South Korean markets were closed.

European market indices slipped further into the red as trading progressed during the day.

Britain’s key index FTSE 100 was down 1.22 percent at 5,011.16 points.

The French CAC 40 too was trading 1.17 percent lower at 3,392.26 points and the German DAX was at 5,772.3 points, down 1.63 percent.