Sensex closes flat, European debt concerns weigh
A benchmark index for Indian equities markets on Tuesday closed flat, having been in a tight range all day. Investors largely chose to remain on the sidelines as concerns about the European debt crisis weighed.business Updated: Nov 08, 2011 17:27 IST
A benchmark index for Indian equities markets on Tuesday closed flat, having been in a tight range all day. Investors largely chose to remain on the sidelines as concerns about the European debt crisis weighed.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,593.67 points, closed at 17,569.53 points, almost unchanged from its previous close at 17,562.61 points.
The Sensex traded in a tight range, rising to a high of 17,632.23 points and slipping to a low of 17,455.22 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed lacklustre at 5,283.5 points.
Broader markets also closed flat. The market breadth at the BSE was mixed with 1,434 stocks advancing and 1,399 scrips declining, while 131 remained unchanged.
The prominent Sensex gainers included SBI, up 1.7% at Rs 1,997.55; Tata Motors, up 0.82% at Rs 189.55; Hindalco, up 0.47% at Rs 139.65 and Hindustan Unilever, up 0.42% at Rs 380.45.
The losers on the benchmark were: Sun Pharma, down 2.05% at Rs.501.05; DLF, down 1.76% at Rs 242.45; Cipla, down 1.43% at Rs 289.50 and NTPC, down 1% at Rs 177.75.
World markets were ruling mixed with some hopes of Greece availing of a bailout package put together by the European Union emerged after Greek Prime Minister George Papandreou resigned.
However concerns about Italy growing debt problems served as a reminder of the region's fragile financial condition. Italian Prime Minister Silvio Berlusconi Tuesday will face a crucial parliamentary vote on public finances which could see his government tumbling if enough party rebels desert him.
In Asia, the Japanese Nikkei closed 1.27% to close at 8,655.51 points, while Hong Kong's Hang Seng ended 0.35% up at 19,746.81 points.
The Chinese Shanghai composite index also fell 0.24% and closed at 2,503.84 points.
European markets, which started weak, rose on some good set of corporate earnings results.
Britain's FTSE was trading 1.11% up at 5,572.16 points, while the French CAC 40 was ruling 1.53% up at 3,150.95 points.
The German DAX was also trading 1.65% up at 6,026.52 points.