Mumbai: The market closed weak amid volatile trade in late session. Losses were seen in auto, banking, technology and consumer durables stocks. However, capital goods stocks gained. The Sensex, Nifty and CNX Midcap Index hit their lifetime high in today’s trade.
The Sensex closed down 35.91 points or 0.33 per cent at 10,905.20. It touched an all-time high of 11,017.25. The Sesne hit 11,000 mark for the first time ever.
The Nifty closed down 3.35 points or 0.10 per cent at 3262.30. It touched an all-time high of 3292.15.
The CNX Midcap Index closed down 3.40 points or 0.07 per cent at 4673.70. It touched an all-time high of 4705.40.
The BSE Small Cap Index closed down 24.69 points or 0.39 per cent at 6238.73. The BSE Midcap Index closed down 7.54 points or 0.15 per cent at 5087.74.
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Zee Telefilms, Tata Motors, Dabur India, Wipro, HDFC and Bajaj Auto were the biggest index losers.
BHEL, Sail, Cipla, Gail and Bharti Tele were the biggest index gainers.
The market breadth was negative, about 918 shares advanced, 1571 shares declined, and 56 shares remained unchanged. The total market turnover today was at Rs 46,893 crore.
Experts do not see very sharp correction coming in the market. However, they feel that any kind of correction, which is on the profit booking side would possibly invite good amount of buying from those people who are sitting on cash at this point of time.
The BSE Auto Index underperformed the other indices. It closed down 1.42 per cent at 5271.62 amid losses in Escorts, Asahi India, Tata Motors, MICO, Bajaj Auto, Ashok Leyland, Bharat Forge, M&M and Maruti Udyog.
Banking stocks like UTI Bank, HDFC Bank, ICICI Bank, IOB, Canara Bank, Allahabad Bank, Andhra Bank, Oriental Bank and Union Bank also witnessed selling pressure. The BSE Bankex closed down 0.96% at 5263.80.
Technology stocks like Hexaware Tech, Wipro, MphasiS BFL, Satyam, i-flex Solutions, HCL Tech and HCL Info also ended lower. The BSE IT Index closed down 0.90 per cent at 3912.06.
Losses were also seen in consumer durables stocks. The BSE Consumer Durables Index closed down 0.75 per cent at 3225.67.
Capital goods stocks however surged up. The BSE Capital Goods Index closed up 1.11 per cent at 8128.02 amid gains in BHEL, Gammon India, Siemens, Praj Industries, Thermax, Ingersoll Rand, ABB, Larsen and Alstom Projects.
Buying was also seen in some oil and pharma stocks. The BSE Oil & Gas Index closed up 0.45 per cent at 4737.42 and the BSE Healthcare Index closed up 0.35 per cent at 3631.61.
Select FMCG and metal stocks also gained. The BSE FMCG Index closed up 0.21 per cent at 2047.49 and the BSE Metal Index closed up 0.16 per cent at 7795.58.
Next page: The bull run
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The 4000-mark On March 30, 1992, the Sensex crossed the 4,000-mark and closed at 4,091 on the expectations of a liberal export-import policy. It was then that the Harshad Mehta scam hit the markets and Sensex witnessed unabated selling.
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