|
| Sensex tests 16k, ends in red |
| BS Reporter / Mumbai Aug 05, 2009, 00:40 IST |
|
After a three-day rally, the Bombay Stock Exchange (BSE) Sensitive Index, or Sensex, slipped on the back of fresh monsoon worries and some profit-booking in power, realty and IT stocks.
According to reports, India’s rainfall could be insufficient to sustain farm output, which would lead to less spending in rural areas.
The Sensex hit the 16,000-mark in early trades. However, it slipped and closed at 15,830.98, down 93.25 points, or 0.59 per cent. The CNX Nifty closed at 4,680.50, down 30.90 points, or 0.66 per cent.
Deven Choksey, managing director, KR Choksey, expects the index to stay rangebound for some time and move in the range of 16,671-14,835.
On Monday, US markets rallied on a strong manufacturing data. The Dow Jones Industrial Average and the Nasdaq rose 1.25 per cent and 1.52 per cent, respectively.
Asian markets ended on a mixed note. The Taiwan Weighted Index slipped 1.43 per cent and the Straits Times declined by 1.23 per cent. Most other markets were flat.
In spite of the fall, the market breadth was fairly positive. Out of 2,819 shares traded, 1,497 advanced, 1,243 declined and 79 were unchanged on the BSE. Among sectoral indices, the BSE TECk index was down 1.41 per cent. The health care index (down 1.35 per cent), power (1.28), realty (1.20 per cent) and IT (1.10 per cent) were the other prominent losers.
However, consumer durables index was up 1.41 per cent, followed by auto (0.51 per cent), FMCG (0.36 per cent) and oil & gas (0.24 per cent).
The index gainers were Hindalco, up 4.39 per cent, followed by Hindustan Unilever (3.30 per cent), Tata Motors (2.72 per cent). Reliance Industries, Maruti Suzuki, Mahindra and Mahindra and ACC.
Tata Power fell sharply by 4.42 per cent. Reliance Infrastructure, Bharti Airtel and Reliance Communications were all down over 2.5 per cent.
Anita Gandhi of Arihant Capital said, “If the Nifty manages to trade at the 4,720 level for some days, a little upmove can be expected. But no major fall is expected as there were positive news such as the strong production data in the US and robust sales figures.”
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
