Sensex tumbles 260 points but lesser scrips excel (Roundup)

May 20th, 2009 - 6:48 pm ICT by IANS  

Sensex Mumbai, May 20 (IANS) While benchmark indices at the equities markets slipped into the red at the closing bell Wednesday with a key index falling 241 points below its last close, mid- and small-sized firms outperformed blue-chip companies.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 14,230.73 points, ended at 14,060.66 points - 241.37 points or 1.69 percent - below Tuesday’s close.

The S&P CNX Nifty of the National Stock Exchange (NSE) followed the Sensex to end in the negative terrain, slipping 1.36 percent to 4,259.7 points.

Broader market indices did better, with the BSE midcap index gaining 6.03 percent and the BSE smallcap index ending 8.86 percent up.

The Sensex touched an intra-day high of 14,405.51 points and a low of 13,976.49.

Of the 13 sectoral indices on the BSE, the index for banking and oil and gas stocks saw selling, while consumer durables and metal scrips gained the most.

Among the top gainers on the Sensex were Tata Motors, up 19.12 percent at Rs.363.90; Tata Steel, up 12.81 percent at Rs.371.30; M&M, up 8.18 percent at Rs.678.65; and Hindalco, up 7.09 percent at Rs.83.05.

Losers included DLF, down 7.77 percent at Rs.354.80; ICICI Bank, down 6.56 percent at Rs.708.50; Bharti Airtel, down 6.06 percent at Rs.859.25; and BHEL, down 5.75 percent at Rs.2,040.45.

The overall market breadth was positive, with 2,393 scrips advancing, 298 declining and 44 remaining unchanged.

Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed foreign funds bought only about $11.1 million of equities compared to shares worth $201.9 million Monday.

The NSE’s Volatility Index - a measure of the market’s expectation of volatility over the short term - stood at 58.10 points as of Tuesday, significantly higher than the 35-point mark that indicates risk.

Other Asian markets ended on a mixed note, with the Nikkei, a key index of the Tokyo markets, shutting shop marginally at 9,344.64 points or 54.35 points up.

The Hang Seng, the primary index of the Hong Kong Stock Exchange, ended in the negative terrain at 17,457.84 points, a fall of 68.19 points or 0.39 percent from its last closing figure

European markets too were a mixed bag with the FTSE in Britain ruling 34.81 points down to 4,447.44 points and its French peer CAC 40 trading 1.29 points higher at 3,276.25 points.

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