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Sensex erases initial gains; down six points

Last Updated: Tuesday, October 23, 2012 - 11:00

Mumbai: The BSE benchmark Sensex erased initial gains, and fell by six points due to fresh selling in consumer durables, IT, oil&gas and auto sectors amidst mixed Asian cues.

The Sensex had resumed higher at 18,803.62 and moved between 18,812.93 and 18,758.42. It was quoted at 18,787.54 at 1025 hrs, down 5.90 points, or 0.03 percent, from yesterday's close.

The NSE 50-share Nifty also eased by 3.60 points, or 0.06 percent, to 5,713.55 at 1025 hrs.

The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month October 2012 series to November 2012 series. The near-month October 2012 derivatives expire on October 25.

The stock market will remain closed on Wednesday on account of Dussera.

Major losers were Hero Motocorp (1.54 percent), Infosys (0.83 percent), Jindal Steel (0.81 percent), Reliance Ind (0.75 percent) and Tata Power (0.56 percent).

Foreign institutional investors (FIIs) bought shares worth a net Rs 241.68 crore yesterday, as per provisional data from the stock exchanges.

Most Asian stocks edged lower early today amid concern over slowing corporate earnings growth and as Europe struggles to contain its debt crisis.

Key benchmark indices in China, Japan, South Korea and Taiwan shed by between 0.18 percent to 0.61 percent, while key indices in Singapore rose by 0.21 percent. Stock markets in Hong Kong were closed for a holiday.

PTI

First Published: Tuesday, October 23, 2012 - 11:00
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