Sensex declines 95 pts in volatile trade
In choppy trade, the Bombay Stock Exchange benchmark Sensex today fell by 95 points on selling in realty, metal and banking stocks amid mixed global trends.business Updated: Oct 22, 2010 17:18 IST
In choppy trade, the Bombay Stock Exchange benchmark Sensex on Friday fell by 95 points on selling in realty, metal and banking stocks amid mixed global trends.
The 30-share index ended lower by 94.72 points at 20,165.86 points. the barometer shuttled between 20,351.74 points and 20,088.67 points during the day.
The broad-based National Stock Exchange index Nifty lost 35.45 points to close at 6,066.05 points. It touched the day's high of 6,121.10 points and a low of 6,041.45 points.
Selling pressure gathered momentum on lower opening in European markets and release of Wipro's quarterly earnings, which was short of the market expectations, brokers said.
Wipro, the third-largest software exporter, plunged the most in nine months losing Rs 21.35 to close at Rs 448.40. On the other hand, leading software exporter Tata Consultancy Services soared to a record level of Rs 1,040.10 after strong second-quarter earnings.
Trading sentiment were partly effected as investors were circumspect amid the ongoing G-20 meeting in South Korea where officials are seeking a common path on currencies, trade and macroeconomic imbalances.
A better closing in Reliance Industries and Infosys Technologies saved the market from any major fall. The two scrips hold a weightage of 23 per cent on the index. RIL gained Rs 2.20 to Rs 1,081.45 and Infosys by Rs 20.10 to Rs 3,053.25.
In 30 BSE index components, 22 stocks were down and eight gained. The realty, FMCG, metal, auto and banking stocks were major losers, while shares in IT, teck, consumer durable and refinery sector gained and capped the losses.
Investors were seen shifting their funds to low value stocks amid current volatility. The smallcap sector index gained 0.30 per cent to 10,723.70 and midcap sector index by 0.27 per cent to 8,425.80.