Sensex Closes 53 Points Down; Oil and Gas, IT Stocks Fall

Thursday, September 27, 2012
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Mumbai: Wiping out early gains, a benchmark index of Indian equities markets closed 53 points lower on 27th September. Oil and gas and IT stocks bore the brunt of selling.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,659.75 points, closed at 18579.50 points, 52.67 points or 0.28 percent down from its previous day's close at 18,632.17 points.

The Sensex touched a high of 18,735.95 points and a low of 18,552.68 points in intra-day trade. The BSE midcap index was up 31.63 points while the smallcap index was 10.62 points high.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also closed 0.25 percent down at 5,649.50 points.

"Market closed at 5,650 as anticipated though street was expecting closing above 5,700. The last support stands at 5,640 and 5,630 and if broken, we should be prepared to see 5,450 in October first week and then probably we will head towards new high in October itself," said Kishor P. Ostwal, chairman and managing director, CNI Research.

"The defects in the derivatives system, that is absence of physical settlement, took heavy toll on PSU stocks," he added.

On the sectoral front, the BSE oil and gas index was down 139.67 points and IT index was down 65.69 points.

The major Sensex gainers were Larsen and Toubro, up 2.21 percent at Rs.1,596.25; Tata Power, up 1.85 percent at Rs.104.55; Hindustan Unilever, up 1.59 percent at Rs.536.15; ITC, 1.25 percent at Rs.266.50; and Bajaj Auto, up 1.06 percent at Rs.1,816.40.

The main losers were Sterlite Inds, down 2.93 percent at Rs.97.75; Hero MotoCorp, down 2.37 percent at Rs.1,878.15; ONGC, down 1.97 percent at Rs.275.50; BHEL, down 1.92 percent at Rs.248.25; and RIL, down 1.65 percent at Rs.830.20.

Among other Asian markets, Japan's Nikkei closed up 0.48 percent while Hong Kong's Hang Seng ended trading 1.14 percent higher. Shanghai's composite index was also up 2.60 percent.

At closing bell here, European markets too were in green. France's CAC was up 0.23 percent and so was Germany's DAX, up 0.44 percent. Britain's FTSE 100 was trading 0.31 percent higher.

Source: IANS
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