Markets end on tame note, Sensex slips in late selling
A benchmark index for equities markets fell sharply in the afternoon session today to close flat as selling pressure built up on heavy-weights like HDFC Bank and Hero Honda.business Updated: May 10, 2011 17:02 IST
A benchmark index for equities markets fell sharply in the afternoon session on Tuesday to close flat as selling pressure built up on heavy-weights like HDFC Bank and Hero Honda.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,564.95 points, closed at 18,512.77 points, down 16.19 points or 0.09% from its previous close at 18,528.96 points.
It had risen to an intra-day high of 18,564.95 points, and fell to a low of 18,429.06 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also shut shop on a lacklustre note at 5,541.25 points, down 0.18%.
Broader markets too closed flat.
FMCG and realty stocks rose, while weakness was seen in banking and consumer durable stocks.
The market breadth was tilted towards the negative with 1,370 stocks advancing, 1,410 on the decline and 151 remaining unchanged.
Among the gainers on the Sensex were: Hindustan Unilever, up 4.46% at Rs 297.15; NTPC, up 4.31% at Rs 180.25; Sterlite Industries, up 2.87% at Rs 174.05 and Jaiprakash Associates, up 2% at Rs 86.55.
Top losers included HDFC Bank, down 1.47% at Rs 2,246.75; Hero Honda, down 1.26% at Rs 1,719.85; M&M, down 1.23% at Rs 700.30 and Tata Power, down 0.95% at Rs 1,246.35.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors on Tuesday bought stocks worth $54.54 million.
Asian markets were subdued in the wake of the European sovereign debt crisis.
The Nikkei of the Japanese stock exchange closed 0.25% higher at 9,818.76 points, while the Chinese Shanghai Composite index ended 0.63% up at 2,890.63 points.
The Hong Kong markets were closed on account of a holiday.
European markets rose as traders welcomed the possibility of a deal with Greece which could tackle the country's sovereign debt problems.
Britain's FTSE was up 1.16% at 6,011.43 points.
Around midday, the French CAC 40 was trading 1.35% higher at 4,061.53 points, while the German DAX was ruling 1.42% up at 7,515.91 points.