Sensex ends marginally lower by 49 pts | business | Hindustan Times
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Sensex ends marginally lower by 49 pts

business Updated: Nov 24, 2009 17:59 IST
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In a highly volatile trade, the benchmark Sensex recovered from the initial sharp losses but still ended down by 49.10 points at 17,131.08 points, due to profit-booking at higher levels triggered by sharp fall in Chinese indices coupled with lower Asian and European advices.

The Shanghai Composite index fell by a massive 3.45 per cent on concerns that the Chinese banks may sell more shares to replenish the capital depleted by the recent record loan growth.

Most of the Asian stocks also fell despite overnight solid gains on Wall Street driven by concerns about the economic outlook, pulling down the Tokyo bourse. The key benchmark indices in South Korea, Singapore, Indonesia, Hong Kong and Japan fell between 0.47 per cent and 1.53 per cent.

The European shares also fell in early trade with the key benchmark indices in France, Germany and Britain declining between 0.59 per cent and 0.81 per cent.

Profit-booking at higher level in view of investors rolled over positions to the derivatives December series also affected the market sentiment adversely.

The Bombay Stock Exchange barometer settled at 7,131.08 points a net fall of 49.10 points over its previous close. The Sensex hovered in a wide range of 17,027.52 and 17,230.86 points, showing a swing of 203.34 points during the day.

The largest steel maker by sales Tata Steel fell by 2.76 per cent.