Sensex Erases Initial Gains; Down 29 Points


Sensex Erases Initial Gains; Down 29 Points

Mumbai: The BSE benchmark Sensex erased initial gains, down 29 points due to sustained selling in capital goods, realty, PSU and teck sectors despite rise in Asian cues.

The Sensex resumed higher at 16,887.84 and moved between 16,899.77 and 16,800.35. It was quoting at 16,817.10 at 1030hrs, down 28.95 points or 0.17 per cent from Wednesday's close.

The NSE 50-share Nifty also moved down by 11.05 points or 0.22 per cent to 5,098.55 at 1030hrs

Marketmen said the stocks may remain volatile in view of the settlement in this month's derivative contracts.

Major losers were Coal India (1.21 percent), Tata Motors (1.06 percent), Tata power (1.04 percent) and Wipro (0.93 percent).

However, Jindal Steel was up 1.92 percent, Sun Pharma (1.39 percent), Bajaj Auto (1.30 percent), Maruti Suzuki (1.29 percent), Cipla (1.02 percent) and ITC (0.77 percent) on good buying support from investors.

Foreign institutional investors (FIIs) sold shares worth a net 372.21 crore on Wednesday, as per provisional data released by the stock exchanges. Asian shares were trading steady early after bouncing from recent lows. Key indices in South Korea, Singapore, Japan, Hong Kong, China and Taiwan rose by up to 0.5 percent.

Source: PTI