Wednesday’s gains reversed, Sensex down 300 points (Roundup)April 16th, 2009 - 7:21 pm ICT by IANS
Mumbai, April 16 (IANS) Investors ended a winning streak for the Indian equities markets Thursday as they booked profits in key sectoral stocks, resulting in a key index losing 300 points over its previous close after opening the day in the green.
Markets around the globe seemed to be moving on different wavelengths as European markets, which came alive before Indian bourses shut shop, were trading in the green and Asian markets being either in the red or just holding on to their previous closing figures.
The 30-scrip Bombay Stock Exchange (BSE) sensitive index (Sensex), which opened at 11,358.06 points, higher than its Wednesday close, fell 337.33 points or 2.99 percent to close at 10,947.4 points.
Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE), lost 3.29 percent from its previous close to end trade at 3,369.5 points.
The BSE midcap index lost 4.53 percent, while the BSE smallcap index was down 4.72 percent.
Of the 13 sectoral indices on the exchange, the realty, metal and consumer goods stocks indices lost the most, with only the FMCG index seeing some gains.
The Sensex touched an intra-day high of 11,367.23 points and a low of 10,900.47 points.
Among gainers on the Sensex were ITC, up 3.21 percent at Rs.191.55; Wipro, up 2.84 percent at Rs.276.65; Sun Pharma, up 2.05 percent at Rs.1,236.25 and Hindustan Unilever, up 1.51 percent at Rs.239.15.
Losers included Tata Motors, down 13.5 percent at Rs.243.25; Reliance Infra, down 9.36 percent at Rs.643.80; DLF, down 8.63 percent at Rs.234.65 and Tata Steel, down 8.25 percent at Rs.269.15.
The overall market sentiment was negative, with 851 stocks advancing, 1,742 scrips declining and 60 remaining unchanged.
In Japan, Tokyo stocks ended marginally in the green Thursday with the benchmark Nikkei 225 Stock Average closing at 8,755.26 points, 12.3 points higher than its previous close.
However, the Hang Seng, a key index of the Hong Kong Stock Exchange, slipped into the red, ending trade at 15,582.99 points, a decrease of 0.55 percent from its last closing figure.
European markets were trading in the positive terrain, with the FTSE in Britain ruling 1.01 percent higher than its previous close, and its French peer CAC 40 ruling 1.23 percent up.
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