Sensex recovers marginally after initial losses
Tuesday, 07 June 2011, 23:39 IST
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Mumbai: The BSE benchmark Sensex recovered marginally after initial losses in early trade today on the back of buying in realty, oil and gas, healthcare and IT counters despite selling in capital goods, FMCG, auto and power counters. The BSE benchmark Sensex resumed lower at 18,355.30 and hovered in a range between 18,465.06 and 18,351.24 before quoting at 18,422.58 at 1015 hours, as against yesterday's closing level of 18,420.11. However, the NSE 50-share Nifty eased by 7.70 points, or 0.14 percent, to 5,524.35 from its last close. Cipla, Reliance Industries, DLF, Reliance Infra and M&M were the major gainers in early trade on good demand. However, Larsen, Maruti Suzuki, Wipro, Bajaj Auto, HDFC and Tata Power fell moderately on mild selling pressure. Most Asian stocks fell in the early trade as overnight losses for US stocks weighed on the sentiment. The key benchmark indices in Singapore, Indonesia, Hong Kong, Seoul and Taiwan fell by between 0.2 per cent to 0.87 per cent while indices in Japan and Shanghai moved up 0.23 per cent and 0.11 per cent, respectively. Markets @ 09.00 AM The BSE benchmark Sensex lost over 68 points in opening trade today on fresh selling by funds and retail investors amid a weak trend on other Asian bourses. The 30-share barometer, which gained 43.63 points in the previous session, fell by 68.87 points to 18,351.24 in the first few minutes of trade today as auto, FMCG, capital goods and banking stocks retreated. The wide-based National Stock Exchange Nifty index moved down by 24.25 points to 5,507.80 points. Brokers attributed the downslide on the bourses to selling by funds and retail investors in tandem with a weakening trend on other Asian bourses following overnight losses in the US market. They said a spate of recent weak US data raised concerns about a bearish global economy and pulled down global markets. In other markets in Asia, Hong Kong's Hang Seng index was trading lower by 0.70 per cent, while Japan's Nikkei was marginally up by 0.23 per cent in morning trade today. In the US, the Dow Jones Industrial Average closed 0.50 per cent lower yesterday.
Source: PTI
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