Equities markets close marginally lower (Roundup)

December 11th, 2008 - 6:54 pm ICT by IANS  

SensexMumbai, Dec 11 (IANS) Despite inflation rate cooling off, Indian equities markets Thursday could not sustain the rally that started Monday and a key index closed 9.44 points or 0.1 percent lower than its previous close.The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed at 9,645.46 points, down from 9,654.9 points of its previous close.

IT stocks were the biggest losers during the trade with the BSE sectoral index for tech shares falling 3.9 points.

Among major losers in the IT sector was Tata Consultancy Services Ltd, which closed 6.24 percent or Rs.33.8 lower at Rs.541.45. Satyam Computers was the next bigger loser, down Rs.12.25 at Rs.236.60.

The broader-based 50-share S&P CNX Nifty of the National Stock Exchange (NSE) fell 0.28 percent or 8.1 points to shut shop at 2,920 points.

However, the BSE midcap index went up 1.86 percent or 54.84 points to close at 3,003.08 points, while the BSE smallcap index rose 1.42 percent or 48.14 points to close the day at 3,443.59 points.

Similar to Wednesday’s trend, realty, oil and gas and metal stocks drove growth, while a host of other sectors like consumer durables pulled it down.

“It was a choppy market with some profit booking happening at the end of the two day’s of gains,” a leading investment advisor said.

Asian markets that were trading at levels lower than the previous day’s close, went up with the Nikkei, key index of the Tokyo Stock Exchange ruling 0.7 percent or 59.6 points lower.

The Hang Seng, key index of the Hong Kong Stock Exchange, was up 0.23 percent or 36.16 points.

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