Sensex pares initial gains; down by 33 points
Mumbai: The BSE benchmark Sensex failed to maintain initial gains and slipped by 33 points to 19,306.71 points Monday on selling in FMCG, banking, IT and PSU stocks.
The BSE-30 index, Sensex, opened slightly up at 19,342.83 points and shot up further to a high of 19,416.45 on good demand, in view of higher global advices coupled with persistent capital inflows from foreign funds.
However, it declined afterwards to 19,292.09 before quoting 19,306.71 at 1030 hrs, showing a loss of 33.19 points or 0.17 percent from its last weekend's level.
The NSE 50-share index Nifty also moved down by 14.85 points or 0.25 percent to 5,865.00 at 1030 hrs.
Major losers were HDFC Bank (1.46 percent), ITC (1.09 percent), Hero Motocorp (0.92 percent), Tata Power (0.84 percent) and Sterlite Ind (0.78 percent).
However, Maruti Suzuki firmed up by 1.76 percent, M&M (1.39 percent), Tata Steel (1.14 percent), Jindal Steel (1.12 percent) and SBI (0.87 percent).
Foreign institutional investors (FIIs) bought shares worth a net Rs 1,611.43 crores, as per provisional data from the stock exchanges.
Asian stocks were mostly higher in the early trade after data showed China's manufacturing sector expanded in November.
Key benchmark indices in Hong Kong, Taiwan, Japan, Singapore and South Korea rose by 0.05 to 0.66 percent while stocks in China and Indonesia fell 0.25 and 0.09 percent, respectively.