Markets turn negative on weak global cues (Roundup)February 2nd, 2009 - 6:41 pm ICT by IANS
Mumbai, Feb 2 (IANS) Indian equities markets closed in the red Monday, giving up nearly half of last week’s gain as global markets slackened. A key index ended trade 3.79 percent lower than its previous close.The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) closed at 9,066.7 points, 3.79 percent or 357.54 points down from its previous close.
At closing, the S&P CNX Nifty index of the National Stock Exchange (NSE) was at 2,766.65 points, 3.76 percent down from its Friday close of 2,874.8 points.
The BSE midcap index was down 1.55 percent, while the BSE smallcap index lost 1.53 percent over its previous close.
There was only one gainer on the 30-share Sensex - Hindustan Unilever (up a marginal 0.17 percent at Rs.261.60).
Among top losers were, Jaiprakash Associates (down 13.7 percent at Rs.65.80), DLF (down 13.54 percent at Rs.153.20) and Reliance Infra (down 10.5 percent at Rs.521.15).
Market sentiment was negative with 1,577 stocks declining, 867 scrips advancing and 83 remaining unchanged.
Spice Telecom’s scrip saw high volumes of trade with indications that promoter B.K. Modi was firming up plans to take over the troubled IT giant Satyam Computer Services.
About 26 million shares of Spice Telecom changed hands with the stock gaining a whopping 68.9 percent to close the day at Rs.80.65.
Satyam’s scrip was also up 6.57 percent and closed at Rs.57.60.
In Asian markets, a key Japanese index, the Nikkei of the Tokyo Stock Exchange, closed 1.5 percent lower at 7,873.98 points.
The Hang Seng, a key index of the Hong Kong Stock Exchange, ended 3.14 percent lower than its last close.