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Sensex snaps three-day rally, slips almost 300 points

Friday September 09, 2011 05:31:57 PM, IANS

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Sensex rises 202 points on positive global cues

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 16,922.31 points, consolidated its gain in afternoon session and ended the day at 17,065, up 1.20 percent or 202.19 points from the previous close at 16,862.81 points.   »

Rally looses steam, Sensex closes 108 points lower

Indian stock markets rally, outperform global peers

Mumbai: A benchmark index for Indian equities markets fell sharply Friday to close almost 300 points lower as traders booked profits after a three-day rally. Negative cues from other global markets also added to the downward pressure.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,189.75 points, closed at 16,866.97, down 298.57 points or 1.74 percent from its previous close at 17,165.54.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too closed lower at 5,059.45 points, down 1.82 percent.

Broader markets also saw widespread selling. The BSE midcap index closed 0.84 percent down, and the BSE small cap index ended 0.75 percent lower. The BSE 100 was down 1.77 percent.

The market breadth was negative with 1,203 stocks advancing, 1,663 on the decline and 104 remaining unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $6.36 million Friday.

Major gainers on the Sensex included: Hindustan Unilever, up 2.52 percent at Rs.333.25; Hero MotoCorp, up 2.05 percent at Rs.2,215.10; ONGC, up 0.34 percent at Rs.261.85 and HDFC, up 0.23 percent at Rs.660.

Prominent losers were SBI, down 3.68 percent at Rs.1,954.90; RIL, down 3.33 percent at Rs.825.10; Tata Motors, down 3.21 percent at Rs.763.60; and Infosys, down 2.88 percent at Rs.2,271.20.

Other Asian markets closed lower in choppy trade amid growing concerns of the state of the global economy. Investors were worried after Christine Lagarde, managing director of the International Monetary Fund said that downside risks to growth had increased across the world.

Japan's Nikkei closed 0.63 percent lower at 8,737.66 points, while China's Shanghai Composite index ended flat at 2,497.75 points.

Hong Kong's Hang Seng index also closed lower at 19,866.63 points, down 0.23 percent.

European stocks, were trading lower, as traders were disappointed after Federal Reserve chairman Ben Bernanke offered no details on measures to revive the economy in a speech delivered Thursday.

Britain's FTSE 100 was trading 0.67 percent down at 5,304.56 points, while the German DAX was ruling 1.11 percent lower at 5,348.49 points.

The French CAC 40 was also down 1.33 percent at Rs.3,044.66 points.




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