ID :
75065
Thu, 08/13/2009 - 11:15
Auther :
Shortlink :
https://www.oananews.org//node/75065
The shortlink copeid
Sensex ends 54 pts lower; industrial data trim losses
Mumbai, Aug 12 (PTI) A fag-end recovery trimmed the day's
losses on buying revival and the Bombay Stock Exchange (BSE)
benchmark Sensex Wednesday closed with a moderate loss of over
54 points.
The Sensex, which plunged to touch the day's lowest level
of 14,701.05, rebounded to close with a loss of 54.43 points
at 15,020.16 as industrial output data released this afternoon
was better than expected.
The National Stock Exchange index Nifty fell by 13.85
points at 4,457.50, after touching the day's low of 4,359.40
points.
Initially, the market remained bearish on aggressive
selling by funds on concerns that the weakest monsoon in seven
years will slash farm output and spending.
However, investors and major players, judging the three
days' constant fall was overdone, preferred to purchase
fundamentally strong shares at lower levels.
A better opening in European stock markets this afternoon
and release of Indian industrial output data rising much
higher than expected to 7.8 per cent in June revived trading
sentiment.
Marketmen said the market tumbled at the outset following
reports that as many as 161 of 626 districts have been
declared drought-prone.
The market mostly remained down at the outset because of
weak Asian cues and sustained pullout by foreign investors.
Among Asian indices, the Shanghai Composite ended down
4.66 per cent, Hang Seng 3.03 per cent, Nikkei 1.42 per cent
and Strait Times 1.00 per cent. The European markets were
better in their early trade this afternoon.
Foreign institutional investors pulled out Rs 1,800.30
crore in four days till August 10, as per the SEBI data.
While stocks in IT, metal, oil and gas, bank, capital
goods, power and FMCG performed badly, realty, healthcare,
auto, consumer durables and teck gained and saved the market
from a major fall.
The IT sector suffered the most, losing 1.78 per cent to
3,959.09, followed by metals, which lost 1.63 per cent to
12,105.09 as Sterlite Industries fell by 1.76 per cent to Rs
623.80. Tata Steel, the biggest producer of the alloy, lost
4.20 per cent to Rs 443.70.
A measure of six metals traded on the London Metals
Exchange, comprising copper, aluminum, lead, tin, zinc and
nickel, fell 2 per cent.
Among the market savers, realty gained the most, by 2.15
per cent to 3,772.59, followed by healthcare, which fell 1.31
per cent to 3,856.25. PTI RS
DDC
losses on buying revival and the Bombay Stock Exchange (BSE)
benchmark Sensex Wednesday closed with a moderate loss of over
54 points.
The Sensex, which plunged to touch the day's lowest level
of 14,701.05, rebounded to close with a loss of 54.43 points
at 15,020.16 as industrial output data released this afternoon
was better than expected.
The National Stock Exchange index Nifty fell by 13.85
points at 4,457.50, after touching the day's low of 4,359.40
points.
Initially, the market remained bearish on aggressive
selling by funds on concerns that the weakest monsoon in seven
years will slash farm output and spending.
However, investors and major players, judging the three
days' constant fall was overdone, preferred to purchase
fundamentally strong shares at lower levels.
A better opening in European stock markets this afternoon
and release of Indian industrial output data rising much
higher than expected to 7.8 per cent in June revived trading
sentiment.
Marketmen said the market tumbled at the outset following
reports that as many as 161 of 626 districts have been
declared drought-prone.
The market mostly remained down at the outset because of
weak Asian cues and sustained pullout by foreign investors.
Among Asian indices, the Shanghai Composite ended down
4.66 per cent, Hang Seng 3.03 per cent, Nikkei 1.42 per cent
and Strait Times 1.00 per cent. The European markets were
better in their early trade this afternoon.
Foreign institutional investors pulled out Rs 1,800.30
crore in four days till August 10, as per the SEBI data.
While stocks in IT, metal, oil and gas, bank, capital
goods, power and FMCG performed badly, realty, healthcare,
auto, consumer durables and teck gained and saved the market
from a major fall.
The IT sector suffered the most, losing 1.78 per cent to
3,959.09, followed by metals, which lost 1.63 per cent to
12,105.09 as Sterlite Industries fell by 1.76 per cent to Rs
623.80. Tata Steel, the biggest producer of the alloy, lost
4.20 per cent to Rs 443.70.
A measure of six metals traded on the London Metals
Exchange, comprising copper, aluminum, lead, tin, zinc and
nickel, fell 2 per cent.
Among the market savers, realty gained the most, by 2.15
per cent to 3,772.59, followed by healthcare, which fell 1.31
per cent to 3,856.25. PTI RS
DDC
