Sensex fails to maintain mid-week gains, ends lower by 72 points
Quotes

Sensex fails to maintain mid-week gains, ends lower by 72 points

Last Updated: Saturday, November 10, 2012, 16:21
 
 Comment 0
 
Sensex fails to maintain mid-week gains, ends lower by 72 points
Mumbai: The BSE benchmark Sensex failed to maintain midweek gains, slipping by 72 points due to fag-end selling pressure mainly in Capital Goods, Refinery, Metal and Power sectors as investors worried about the "fiscal cliff" after Barack Obama was re-elected as the US President, and about the euro-zone economy.

Obama's re-election brought cheer to Indian stock market, pushing Sensex to a one-month high of 18,973.43 on hopes of revival of global economy.

However, the euphoria later petered out and the global markets got a blow over the future concerns over the global economy as well as European debt problems, resulting in domestic investors opting to book profits.

Disappointing performance from SBI, Tata Steel and ONGC pulled down the Sensex to a low of 18,656.41 before ending the week at 18,683.68, disclosing a loss of 71.77 points or 0.38 percent.

The NSE 50-share Nifty also declined by 11.45 points or 0.20 percent to finish at 5,686.25.

Weakness in global markets on fiscal worries and earnings concerns also kept buyers on the sidelines, said brokers.

State-owned SBI reported a rise of over 30 percent in Q2 net profit but its non-performing assets ratio jumped to 5.15 percent from 4.19 percent a year ago period, which mainly dampened the market sentiment at the fag-end.

Tata Steel reported consolidated loss of Rs 363.90 crore for the July-September quarter, as against Rs 212.40 crore net profit in the year-ago period.

"The US is set to undergo sharp rise in taxes and massive spending cut from this January 1, 2013 which shall reduce the demand in the largest economy of the world. A slowdown in growth due to impending spending cuts weighed on global markets which eased sharply from their highs," Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said.

The share of Cipla shot up by 4.34 percent as company posted a 61.8 percent rise in consolidated net profit at Rs 500.01 crore for the second quarter ended September 30.

Foreign Institutional Investors (FIIs) continued their buying spree during the week by investing net Rs 1,493.95 crore, including the provisional figure of November 9.
21 scrips out of the 30-share sensex family ended in red while nine finished with gains.

Major losers from the Sensex pack were Tata Power (4.98 percent), Hindalco Ind (3.74 percent), ONGC (3.24 percent), Larsen (3.22 percent), Tata Steel (2.75 percent), Bajaj Auto (2.45 percent), Reliance Ind (2.38 percent), Hero Motocorp (1.95 percent), Infosys (1.67 percent) and Jindal Steel (1.65 percent).

However, other gainers were Tata Motors 3.93 percent, HDFC 3.48 percent, ITC 1.71 percent, BHEL 1.37 percent, Wipro 1.55 percent and HDFC Bank 1.27 percent.

Among the major indices he BSE-Capital Goods fell by 2.21 percent followed by BSE-Oil&Gas 2.17 percent, the BSE-Metal 1.75 percent and the BSE-Power 1.08 percent.

The dollex-100 and the dollex-200 both dropped by 1.50 percent.

However, the BSE-Realty shot up by 5.11 percent followed by the BSE-IPO 1.80 percent and the BSE-FMCG by 1.79 percent.

The total turnover and BSE and NSE rose to Rs 11,383.56 crs and Rs 50,308.36 crs respectively from the last weekend's level of Rs 10,264.31 crs and Rs 49,461.21 crs.

PTI



First Published: Saturday, November 10, 2012, 16:18


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