Mumbai: In a highly volatile trade, the benchmark Sensex recovered from the initial sharp losses but still ended down by 49.10 points at 17,131.08 points, due to profit-booking at higher levels triggered by sharp fall in Chinese indices coupled with lower Asian and European advices.
The Shanghai Composite index fell by a massive 3.45 percent on concerns that the Chinese banks may sell more shares to replenish the capital depleted by the recent record loan growth.
Most of the Asian stocks also fell despite overnight solid gains on Wall Street driven by concerns about the economic outlook, pulling down the Tokyo bourse. The key benchmark indices in South Korea, Singapore, Indonesia, Hong Kong and Japan fell between 0.47 percent and 1.53 percent.
The European shares also fell in early trade with the key benchmark indices in France, Germany and Britain declining between 0.59 percent and 0.81 percent.
Profit-booking at higher level in view of investors
rolled over positions to the derivatives December series also
affected the market sentiment adversely.
The Bombay Stock Exchange barometer settled at 7,131.08
points a net fall of 49.10 points over its previous close. The
Sensex hovered in a wide range of 17,027.52 and 17,230.86
points, showing a swing of 203.34 points during the day.
The largest steel maker by sales Tata Steel fell by 2.76
percent.
PTI
First Published: Tuesday, November 24, 2009, 17:15