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Sensex down 230 points as selling continues

Thursday, October 29, 2009
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Mumbai: Benchmark indices at Indian equity markets continued to languish in the negative terrain going down 230 points, as selling continued across the board, with realty, metal, auto and banking stocks bearing the brunt of it. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened lower at 16,191.39 points, ended at 16,052.72 points, 1.42 percent or 230.77 points lower than its previous close Wednesday at 16,283.49 points. The chart showing the 52 week performance of Sensex is on the left. Around the same time, the S&P CNX Nifty of the National Stock Exchange (NSE) was also in the red at 4,750.55 points, down 1.57 percent or 75.6 points from its last close. Broader market indices were in the negative as well, with the BSE midcap index 1.95 percent down, while the BSE smallcap index ended 1.29 percent lower. Among the sectors that saw most selling were realty, metals, banking and telecom. The market breadth was negative with only 823 stocks advancing, as many as 1,854 declining and 69 remaining unchanged. Among the gainers on the Sensex were M&M, up 3.93 percent at Rs.927.75; ONGC, up 2.56 percent at Rs.1,165.85; Sun Pharma, up 1.92 percent at Rs.1,404.20, and Hindustan Unilever, up 1.6 percent at Rs.283.15. Among the losers were DLF, down 6.81 percent at Rs.375.60; Reliance Communications, down 6.45 percent at Rs.189.95; ICICI Bank, down 4.81 percent at Rs.771.25, and Jaiprakash Associates, down 4.1 percent at Rs.211.95. According to data with the regulator, the Securities and Exchange Board of India (SEBI), foreign institutional investors bought shares worth $5.9 million Thursday. Other major Asian markets were hit by the consolidation sentiment as well. The Nikkei, a key index of the Tokyo Stock Exchange, closed 1.67 percent down at 9,906.8 points. The primary index of the Hong Kong Stock Exchange, Hang Seng, shut shop 2.28 percent lower at 21,264.99 points. The South Korean benchmark index, Kospi, also ended in the red at 1,585.85 points, down 23.86 points or 1.48 percent. At the Shanghai Stock Exchange, the composite index ended 1.6 percent down at 2,982.81 points. European markets were trading flat with Britain's FTSE 100 index ruling 0.19 percent lower at 5,070.82 points and its French peer, the CAC 40, ruling 0.11 percent up at 3,667.84 points. Germany's DAX was similarly ruling at 5,503.83 points, up 0.14 percent.
Source: IANS
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