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Profit booking pulls down Sensex 158 points

Wednesday, July 29, 2009
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Mumbai: Profit booking and a crash at the Chinese bourses pulled down a key index of Indian equities markets 158 points into the red Wednesday. The 30-scrip benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened lower at 15,293.19 points, shut shop at 15,173.46 points -- 158.48 points or 1.03 percent lower than Tuesday's closing figure. The chart showing today's performance of Sensex is on the left. It had slipped more than 443 points around noon after Chinese bourses tanked, but bounced back later. However, selling of shares of metal, realty, power and capital goods resulted in the Sensex closing lower. Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) closed in negative terrain, 1.11 percent down at 4,513.5 points. Broader market indices were also down, with the BSE midcap index ending 0.98 percent lower and the BSE smallcap index moving down 1.46 percent. The total traded turnover again crossed the Rs.1 lakh crore mark. The market breadth was positive with 1,089 stocks advancing, 1,558 declining and 77 remaining unchanged. Among the gainers on the Sensex were TCS, up 4.18 percent at Rs.499.80; Tata Power, up 2.91 percent at Rs.1,302.45; M&M, up 2.31 percent at Rs.841.80 and Hindalco, up 1.28 percent at Rs.96.45. Among the losers on the Sensex were DLF, down 6.58 percent at Rs.398.05; Tata Steel, down 5.77 percent at Rs.441.90; Sterlite, down 5.53 percent at Rs.621.15 and Sun Pharma, down 5.24 percent at Rs.1,188.25. Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed that foreign funds were net buyers, lapping up scrips worth a little over $153.1 million. In other Asian markets, the Nikkei 225 Stock Average, a key index of the Tokyo Stock Exchange closed marginally up with investors turning cautious as more corporate results were awaited. It ended trade at 10,113.24 points, up 25.98 points. The Hang Seng, the primary index of the Hong Kong Stock Exchange, too ended in the red at 20,135.5 points, down 489.04 points. Key European indices opened higher and were ruling in the green on the back of gains in banking and chemical shares. While the FTSE of Britain was ruling at 4,574.73 points, up 45.89 points, its French peer CAC 40, was at 3,382.38 points, 51.41 points higher than its previous close. The German DAX too was trading in the green at 5,277.53, up 102.79 points.
Source: IANS
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