Sensex extends losses for the 5th day
Quotes

Sensex extends losses for the 5th day

Last Updated: Monday, July 14, 2014, 17:49
 
 Comment 0
 
Sensex extends losses for the 5th day
Mumbai: The benchmark Sensex Monday extended losses for the fifth consecutive day as it slipped another 17 points to end at 25,006.98 on selling pressure mainly in consumer durables and IT shares, amid capital outflows.

Foreign portfolio investors (FPIs) were net sellers of Rs 723.48 crore on last Friday as per provisional data from the stock exchanges. The offloading occurred after being buyers in previous six sessions, that had consequently helped stocks scale new highs in the run-up to the Union Budget.

Signs of recovery on the macroeconomic front failed to enthuse investors. Inflation dipped to 5.43 percent in June as against 6.01 percent in May, government data showed today. On Friday post market hours, data had showed that factory output grew at 19-month high of 4.7 percent in May.

The BSE Sensex resumed opened higher at 25,093.16 and moved up further to 25,095.76. However, profit-taking in select stocks pushed it immediately to 24,892.00 before settling at 25,006.98 -- a loss of 17.37 points or 0.07 percent from its last weekend's level of 25,024.35.

IT major Infosys ended lower by 2.97 percent after gaining on Friday on account of better-than-expected earnings.

Shares of Reliance Industries fell 0.53 percent to Rs 961.85 after the government slapped an additional penalty of USD 579 million on the company for producing less than targeted natural gas from its KG-D6 block.

Losses in shares of HUL (down 2.64 percent), ICICI Bank (down 0.83 percent) and HDFC (down 0.71 percent) also hurt.

The gauge has now lost over 1,093 points in five days.

The NSE 50-share Nifty today eased by 5.45 points or 0.07 percent to end at 7,454.15.

Sectorwise, the BSE Consumer durables index lost 2.24 percent, followed by IT index (1.27 percent), among others.

However, Asian markets ended higher as euro zone banking jitters faded. Key benchmark indices in South Korea, China, Taiwan, Hong Kong and Japan rose by 0.26 percent to 0.96 percent while Singapore fell by 0.14 percent.

European markets were trading higher in their early trade as key benchmark indices in France, UK and Germany rose by 0.55 percent to 0.70 percent.

Jignesh Chaudhary, Head of Research, Veracity Broking Services said: "After losing for four consecutive days, today local equity market traded range bound to slightly weak. FIIs continued to be on the selling side which dented local markets".

Seventeen scrips from the 30-share Sensex pack ended lower while 13 others finished higher.

Besides Infosys, other losers were HUL 2.64 percent, Wipro 2.19 percent, Sesa Sterlite 1.28 percent, NTPC 1.27 percent, Bharti Airtel 1.00 percent, Coal India 0.88 percent and ICICI Bank 0.83 percent.

However, Hindalco rose by 4.15 percent, followed by Tata Power 2.80 percent, Tata Steel 2.60 percent, Tata Motors 2.41 percent, Axis Bank 1.68 percent, ONGC 1.60 percent, Larsen & Toubro 1.54 percent, BHEL 1.32 percent, Hero Motocorp 1.24 percent and TCS 1.11 percent.

Besides Consumer Durables and IT sectoral indices, Teck fell 0.99 percent, Realty 0.78 percent and Healthcare 0.53 percent.

However, Capital Goods rose by 1.14 percent, Auto 0.99 percent and Metal 0.97 percent.

Market breadth remained negative as 1,690 stocks ended with lower, 1,126 stocks finished with gains while 111 ruled steady.


PTI

First Published: Monday, July 14, 2014, 16:48


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved