Sensex falls 65 points, ending five weeks of gains

Mumbai, Oct 8 (IANS) A benchmark index of Indian equities fell 65 points in volatile but range-bound trading Friday, snapping five weeks of gains. Heavyweights Reliance Industries and Infosys helped the index to pare the intra-day losses due to profit booking ahead of the second quarter earnings.



The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 20,297.58 points, closed at 20,250.26 points, down 65.06 points or 0.32 percent from its previous close at 20,315.32 points.





The RIL stock closed 0.94 percent higher at Rs.1,048.25, while Infosys ended the day with a 0.72 percent gain at Rs.3,077.40.





At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 6,103.45 points, down 0.28 percent.





On a weekly basis, the Sensex fell 0.9 percent and the Nifty dipped 0.65 percent.





Broader markets were also in the red with the BSE midcap trading 0.47 percent down and the BSE smallcap index 0.28 percent lower.





Healthcare scrips did relatively better, while IT and energy stocks saw moderate buys. Metals, auto, consumer durables and power stocks saw bulk of the selling.





The market breadth was negative with 1,120 stocks advancing, 1,825 declining and 121 remaining unchanged.





Top Sensex gainers were Cipla, up 1.74 percent at Rs.337; Hindalco Industries, up 1.32 percent at Rs.214.50; Reliance Com, up 1.26 percent at Rs.180.40 and Wipro, up 0.98 percent at Rs.462.20.





Among the losers were Tata Steel, down 3.48 percent at Rs.626.95; M&M, down 2.74 percent at Rs.705.80; Jaiprakash Associates, down 2.3 percent at Rs.131.95, and Tata Motors, down 1.9 percent at Rs.1,104.90.





Other Asian markets were ruling mixed ahead of the release of US non-farm payroll data -- an indication of the state of the world\'s largest economy.





The Japan\'s Nikkei lost 0.99 percent and closed at 9,588.88 points.





Hong Kong\'s Hang Seng ended 0.26 percent higher at 22,944.18 points, while the Shangahi Composite index, which was closed for past few days for holidays, zoomed 3.13 percent to shut shop at 2,738.74 points.





European market indices moved up after a weak start, ahead of a meeting of the European Central Bank to decide on key interest rates.





Around mid-day, Britain\'s FTSE 100 was trading at 5,642.73 points, down 0.34 percent.





The German DAX was ruling flat at 6,279.67 points and the French CAC 40 was trading at 3,764.52 points, down 0.16 percent from its previous close.



SEARCH


News From: http://www.7StarNews.com