Sensex ends 50 pts down;investors cautious ahead of NMDC FPO

Mumbai, Mar 9 (PTI) Moderate selling in metal and PSU
counters pulled the benchmark Sensex down by 50 points Tuesday
in lacklustre trade in tandem with global markets which took a
breather after rallying for the past week.

The Bombay Stock Exchange's 30-share index settled at
17,052.54 points, down 50.06 points or 0.29 per cent, as
blue-chips Reliance Industries, SBI, Tata Steel, L&T and Tata
Motors came under some selling pressure.
The National Stock Exchange's 50-share key index Nifty
settled at 5101.50 points with a 23-point fall.
Analysts said the bourses worldwide are taking a breather
after a sharp rally in the past few days as investors are
booking profit and cashing on the gains they reaped in the
last trading sessions.
"Uncertainty is still there as globally markets have
rallied too fast. Instability in Eurozone is still lingering
in traders' mind and they are time and again shifting
investments to dollar," SMC Global VP Rajesh Jain said.
Markets were cautious on the eve of share sale programme
of another PSU NMDC which opens tomorrow. "The market was a
bit nervous on the back of NMDC FPO. Investors want to keep
cash in hand to invest in the FPO which opens tomorrow," HDFC
Securities head for private broking and wealth management
Vinod Sharma said.
Shares of NMDC tanked over 6.23 per cent Tuesday.
Tata Motors was another big casualty as it lost 3.29 per
cent amid reports that German truck maker Daimler would exit
its holding in the company. Jaiprakash Associates at 3.57 per
cent was the biggest index loser. MORE PTI JD
RDM


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