Sensex under selling pressure, down 149 points (Lead)

June 4th, 2009 - 2:12 pm ICT by IANS  

Sensex Mumbai, June 4 (IANS) Continued selling in blue-chip stocks sent a key index of the Indian equity markets tumbling 149 points around Thursday noon.
The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,755.08 points, lower than Wednesday’s close, was ruling at 14,721.82 points aroubd this time, 149.08 points or 1 percent lower than its last close.

The S&P CNX Nifty of the National Stock Exchange (NSE) too lost ground, moving down 0.94 percent to rule at 4,487.90 points around the same time.

Broader market indices were outperforming the market, suggesting buying interest in lesser scrips.

The BSE midcap index was ruling 0.65 percent higher than its previous close, while the BSE smallcap index was up 0.71 percent.

Of the 13 sectoral indices on the BSE, those for metal and oil stocks were under pressure, while FMCG, healthcare and PSU stocks were on the gaining side.

The market breadth was positive, with 1,584 stocks advancing, 1,008 declining and 60 remaining unchanged.

Among gainers on the Sensex at this time were Ranbaxy, up 4.24 percent at Rs.277.70; Hindustan Unilever, up 3.09 percent at Rs.247.10; Reliance Communications, up 2.28 percent at Rs.340.50; and ITC, up 1.77 percent at Rs.206.60.

Of the losers on the Sensex at this time were Sterlite, down 6.15 percent at Rs.659.60; Tata Steel, down 4.1 percent at Rs.467.90; Hindalco, down 4.08 percent at Rs.89.35; and Tata Power, down 3.16 percent at Rs.1,019.70.

Other Asian markets were trading mixed, with a key index of the Tokyo stock exchange, Nikkei 225 Stock Average, falling 72.71 points from its last close in the red at 9,668.96 points.

On the other hand, the Hang Seng, a primary index of the Hong Kong stock exchange, was 309.57 points up at 18,266.9 points.

Major US stock indices declined Wednesday for the first time in five days ahead of a monthly jobs report, a drop in oil prices and poor earnings forecasts from the energy sector.

Just days before the US Labour Department is set to release monthly unemployment figures, private firm Automatic Data Processing estimated that Americans firms slashed 532,000 jobs in May.

The blue-chip Dow Jones Industrial Average was down 65.63 points, or 0.75 percent, to 8,675.24, while the broader Standard and Poor’s 500 Index was down 12.98 points, or 1.37 percent, to 931.76.

The technology-heavy Nasdaq Composite Index fell 10.88 points, or 0.59 percent, to 1,825.92 points.

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