Markets fail to build on firm opening (Roundup)January 22nd, 2009 - 7:06 pm ICT by IANS
Mumbai, Jan 22 (IANS) Indian equities markets failed to build on their morning gains Thursday as a key index shed most of the day’s gains in afternoon trade to close 0.39 percent higher than its previous close.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed at 8,813.84 points, up 34.67 points or 0.39 percent over Wednesday’s close.
Similarly, the broader S&P CNX Nifty index of the National Stock Exchange closed 0.28 percent higher at 2,713.8 points.
Other market indices were also down with the BSE midcap index closing 2.07 percent lower and the BSE smallcap shedding 2.01 percent.
Of the 13 sectoral indices on the BSE, technology and banking indices closed higher, while realty and consumer durables stocks took a beating.
Among major gainers on the Sensex were Bharti Airtel (up 6.19 percent at Rs.619.70), Grasim Industries (up 3.05 percent at Rs.1,176.25) and Sun Pharma (up 2.78 percent at Rs.1,102.75).
Top loser’s were DLF (down 9.36 percent at Rs.164.05) and Ranbaxy Labs, which fell due to weak third quarter results (down 8.89 percent at Rs.186.10).
Market sentiment was negative with 1,661 stocks declining, 739 stocks advancing and 96 stocks remaining unchanged.
In Asian markets, a key index of the Tokyo stock exchange, the Nikkei 225 Stock Average, was up 1.9 percent at 8,051.74.
The Hang Seng, a key index of the Hong Kong Stock Exchange, rose 0.92 percent over its last close.