Sensex closes down by 57 points
The Bombay Stock Exchange benchmark Sensex today fell by 57 points in choppy trade amid a mixed trend of quarterly earnings by leading blue-chip companies.business Updated: Nov 10, 2010 16:32 IST
The Bombay Stock Exchange benchmark Sensex on Wednesday fell by 57 points in choppy trade amid a mixed trend of quarterly earnings by leading blue-chip companies.
The 30-share Sensex, which moved between 20,970.91 and 20,858.24 points during the session, recorded a loss of 56.77 points to end at 20,875.71.
Market analysts said a dip in Bharti Airtel's earnings was somewhat a dampened the sentiment even though another Sensex stock Tata Motors yesterday announced a whopping 102-fold jump in its net profit for the second quarter.
The broad-based National Stock Exchange index Nifty fell by 25.85 points to 6,275.70. It shuttled between 6,307.65 and 6,269.25 points range during the session.
Traders said sentiment was also influenced by a mixed pattern in the Asian region and lower opening in the European stock markets this afternoon.
They added that there was also profit selling at higher levels as the Sensex has climbed over 19% this year so far and touched record levels.
The leading mobile operator Bharti Airtel declined by Rs 5.90 to Rs 328.15 as the company recorded an about 27% fall in quarterly profit.
Riding on its robust earnings, Tata Motors rose by Rs 31.60 to Rs 1,302.15.
Market leader Reliance Industries fell by Rs 5 to Rs 1,102.45. Infosys Technologies rose by Rs 30.80 to Rs 3,082.90. The two carry nearly 23% weightage on the Sensex.