Sensex down over 50 points at closing

Uteson

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posted on 18 years ago — updated on 1 second ago

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Selling was seen in banking, technology, metal, consumer durables, and select auto and oil stocks. However, pharma, FMCG and some capital goods stocks gained.

New Delhi: The market closed lower after witnessing selling pressure at end of trade. Selling was seen in banking, technology, metal, consumer durables, and select auto and oil stocks. However, pharma, FMCG and some capital goods stocks gained.

The Sensex closed down 56.84 points or 0.59 per cent at 9583.45. It touched an all-time high of 9689.68.

The Nifty closed down 3.90 points or 0.13 per cent at 2910.10. However, the CNX Midcap Index closed up 34.80 points or 0.83 per cent at 4238.05.

The market breadth was positive, about 1383 shares advanced, 1086 shares declined, and 52 shares remained unchanged.

Wipro, Satyam, PNB, ICICI Bank, Sail and Maruti were the biggest index losers.

Jet Airways, IPCL, Dr Reddy’s Labs, Dabur India, Tata Power, MTNL, Ranbaxy Labs, and BHEL were the biggest index gainers.

Analysts say that no toppish signs are seen in the markets in the short-term.

The BSE Bankex underperformed the other indices. It closed down 1.11 per cent at 5272.33 amid losses in Union Bank, Bank of India, ICICI Bank, HDFC Bank, PNB, Canara Bank, SBI and Allahabad Bank.

Technology stocks including Hexaware Tech, Wipro, Satyam, MphasiS BFL, Infosys and TCS also ended lower. The BSE IT Index closed down 0.92 per cent at 3,776.07.

Metal stocks like Hindalco, Tata Steel, Sail, Hindustan Zinc, Sterlite Industries and Jindal Steel also ended in the red. The BSE Metal Index closed down 0.64 per cent at 6726.89.

Selling was also seen in consumer durables stocks like Blue Star, BPL and Mirc Electronic. The BSE Consumer Durables Index closed down 0.73 per cent at 3280.91.

Select auto and oil stocks also lost ground. The BSE Auto Index closed down 0.12 per cent at 4335.72 and the BSE Oil & Gas Index closed down 0.16 per cent at 4553.33.

Buying however was seen in pharma stocks. The BSE Healthcare Index closed up 1.32 per cent at 3262.50 amid gains in Aurobindo Pharma, Dr Reddy's Labs, Orchid Chemical, Ranbaxy Labs, Wyeth, Biocon, Matrix Lab, Nicholas Piramal and Sun Pharma.

Some buying was also seen in FMCG and capital goods stocks. The BSE FMCG Index closed up 0.33 per cent at 1669.32 and the BSE Capital Goods Index closed up 0.22 per cent at 5991.85.