Wed close: Sensex down 25 pts
The Sensex closes lower as sentiments turn cautious following disappointing results from some blue-chip stocks.india Updated: Oct 18, 2006 18:21 IST
The markets closed with a modest loss of 25 points in a range-bound trading session as sentiments turned cautious following disappointing results from blue-chips like Bajaj Auto and Wipro.
The much-awaited 13,000-point continued to elude the bourses and the Bombay Stock Exchange's 30-share sensitive index, Sensex, settled 25.35 points down at 12,858.48 points after moving in a narrow range of 12,920.59 points and 12,830.84 points.
The Sensex ended in the negative territory for the second consecutive day following a fall of over 44 points on Tuesday, when the index had missed the key 13,000 level by a whisker's distance of less than six points.
The National Stock Exchange's (NSE) S&P CNX Nifty moved down by 4.35 points or 0.12 per cent to 3,710.65 points, as against its previous close of 3,715.00.
The second quarter performance by Bajaj Auto and IT major Wipro fell short of market expectations, while discouraging the market sentiments, the brokers said. The market is now awaiting RIL results, scheduled to be announced on October 19, they added.
Selective buying interest was seen in pharma and metal sectors, while investors were seen booking profits at the higher levels across the board, brokers said.
A slowdown in FII inflows also dampened investors' spirit. Foreign Institutional Investors (FIIs) reported net purchases of Rs 219 crore in cash on October 17, as per provisional numbers but pulled out about Rs 251 crore from the derivatives on the same day.
A sharp fall in two-wheeler giant Bajaj Auto triggered heavy sell-off in the sector, as a result, the BSE Auto Index fell by 103.59 points or 1.89 per cent to 5,376.73 points.
Meanwhile, Asian markets overcame initial pressure and ended in positive territory.