Sensex closes flat, bank stocks down
The Sensex on Monday closed flat – a mere 21 points lower – on weak global cues due to US budget standoff that has led to a partial federal government shutdown.business Updated: Oct 07, 2013 18:05 IST
The Sensex on Monday closed flat – a mere 21 points lower – on weak global cues due to US budget standoff that has led to a partial federal government shutdown.
Markets were also cautious as the deadline for the US deficit ceiling limit looms near. The US policy makers have time till Oct 17 to raise the country's borrowing limit.
The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE), which opened at 19,880.94 points, closed at 19,895.10 points, down 20.85 points or 0.10% from Friday's close at 19,915.95 points.
The Sensex saw a high of 19,921.38 points and a low of 19,647.88 points in the day's trade.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also made marginal gains. The index increased merely by 1.95 points or 0.03% at 5,909.25 points.
Sector-wise, information technology (IT), healthcare, metal, technology, entertainment and media (TECk) and power companies scrip gained.
However, banks, capital goods, public sector undertakings (PSU), oil and gas and automobile stocks declined.
The S&P BSE IT index gained 97.22 points, healthcare index was up 83.18 points, followed by metal index which was higher by 79.66 points, TECK index rose 40.48 points and power index increased by 6.91 points.
Heavy selling pressure was observed in bank index, which was down 135.21 points, capital goods index was down 31.33 points, PSU index was down 22.45 points, oil and gas index was lower by 22.29 points and automobile index declined by 22.08 points.
The prominent Sensex gainers were: Tata Steel, up 4.13% at Rs 300.35; Hindalco Inds, up 3.22% at Rs 121.65; Tata Consultancy Services (TCS), up 2.52% at Rs 2,084.05; Jindal Steel, up 1.59% at Rs 240.20; and BHEL, up 1.53% at Rs 146.15.
The losers were: Coal India, down 3.19% at Rs 300.10; Bharti Airtel, down 1.71% at Rs 322.55; ICICI Bank, down 1.50% at Rs 916.45; Maruti Suzuki, down 1.46% at Rs 1,406.85; and Larsen and Toubro (L&T), down 1.37% at Rs 808.85.
Among the Asian markets, Japan's Nikkei closed 1.21% down; Hong Kong's Hang Seng was lower by 0.71%; South Korea's KOSPI was down by 0.13%; and Singapore's Straits Times index was lower by 0.05%.
In Europe, London's FTSE 100 was trading 0.94% down, while Germany's DAX Index was lower by 1.10%. The French CAC 40 was down by 0.97%.