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Sensex closes 138 points lower, ignores positive global cues

Thursday August 25, 2011 06:23:00 PM, IANS

Mumbai: A benchmark index for Indian equities markets Thursday closed 138 points lower despite reasonably positive global cues as the futures contract for the month came to a close.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,338.14 points, closed at 16,146.33 points, down 138.65 or 0.85 percent from its previous close at 16,284.98 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended in the red, 1.01 percent down at 4,839.6 points.

According to data available with the Securities and Exchange Board of India, foreign institutional investors sold stocks worth $165.56 million Thursday.

Broader markets too saw selling. The BSE midcap index closed 0.88 percent lower, while the BSE smallcap index ended 0.82 percent down.

IT, metals and banking stocks were facing bulk of the selling pressure, while realty scrips saw some buying.

The market breadth at the BSE was negative with 1,138 stocks advancing, 1,638 on the decline and 122 remaining unchanged.

Among gainers on the 30-scrip Sensex were: DLF, up 2.67 percent at Rs.186.60; Tata Motors, up 1.91 percent at Rs.714.05; Sun Pharma, up 1.27 percent at Rs.470.35 and Bharti Airtel, up 1.18 percent at Rs.401.80.

The main losers included: Coal India, down 4.61 percent at Rs.373.85; Tata Power, down 4.51 percent at Rs.1,036.20; Tata Steel, down 4.28 percent at Rs.455.40 and Tata Motors, down 3.9 percent at Rs.700.70.

Tracking overnight gains at Wall Street, Asian markets saw a rally Thursday. Traders were also hoping that Federal Reserve chief Ben Bernanke will outline plans to kick-start the ailing US economy Friday.

The benchmark Japanese Nikkei closed 1.54 percent higher at 8,772.36 points while the Chinese Shanghai Composite index was up 2.92 percent at 2,615.26 points.

Hong Kong's Hang Seng was trading 1.47 percent higher at 19,752.48 points

European markets rose on some good corporate earnings results and in the hope that Bernanke could indicate measures to pump in money into the faltering US economy.

The FTSE 100 of UK was ruling 0.11 percent up at 5,211.77 points, while the German DAX rose 0.81 percent at 5,726.96 points.

The French CAC 40 was up 0.95 percent at 3,169.41 points.




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