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Indian stock markets rally, outperform global peers
Benchmark indices for Indian equities
rallied more than 6 percent in a truncated trading week,
outperforming bourses in other developed markets.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange
(BSE) ended the week 6.14 percent or 972.63 points up at 16,821.46
points. »
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Mumbai: A benchmark
index for Indian equities markets Monday closed 108 points lower,
ending a three day rally that saw the index gain over 6 percent
last week.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at
16,678.34 points, closed at 16,713.33 points, down 108.13 points
or 0.64 percent from its previous close at 16,821.46 points.
The Sensex had slipped to an intra-day low of 16,561.46 points,
but pared its intra-day losses.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also
ended in the red, 0.45 percent down at 5,017.2 points. The Nifty
too had advanced over 6 percent in last week's trade.
Broader markets edged lower but BSE midcap index managed moderate
gains, ending the day 0.51 percent up.
Oil and gas, IT and telecom stocks were among major losers Monday,
while consumer durables and auto scrips gained.
At the BSE, the market breadth was negative with 1,481 stocks
advancing, 1,330 scrips declining and 117 remaining unchanged.
Foreign institutional investors were net buyers, having picked up
stocks worth $256.69 million Monday, according to data available
with the Securities and Exchange Board of India (SEBI).
Prominent gainers included Hero MotoCorp, up 5.16 percent at
Rs.2,174.35; Bajaj Auto, up 2.74 percent at Rs.1,668.05; Tata
Steel, up 1.26 percent at Rs.494.65; and L&T, up 0.7 percent at
Rs.1,620.55.
Among losers on the Sensex were Wipro, down 3.65 percent at
Rs.321.90; ONGC, down 2.67 percent at Rs.256.85; Infosys, down
2.23 percent at Rs.2,263.85; and RIL, down 2.05 percent at
Rs.788.90.
Other Asian markets closed in the red as traders stepped on the
selling pedal, disappointed by US jobs data released Friday.
The benchmark Japanese Nikkei closed 1.86 percent down at 8,784.46
points, while Hong Kong's Hang Seng ended 2.95 percent lower at
19,616.4 points.
Chinese stocks were also in the red. The Chinese Shanghai
Composite index closed 1.96 percent down at 2,478.74 points.
Influenced by losses at Asian markets and weak job creation data
from the US, which stoked fears about the health of the world's
largest economy, European bourses too were ruling lower.
In Britain, the FTSE 100 was trading 2.2 percent down at 5,175.64
points, while the German DAX was ruling 3.81 percent lower at
5,327.27 points.
The French CAC 40 was trading 3.67 percent down at 3,033.12
points.
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