Thursday, July 15, 2010

Sensex ends flat as world markets tumble

sensex114-300x224A benchmark index for Indian equities Thursday ended flat as world stocks took a tumble following the US Federal Reserve’s outlook of a softening economic recovery.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) Sensex, which opened at 17,874.71 points, closed at 17,909.46 points, 28.7 points or 0.16 percent down from its previous close at 17,938.16 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also ended flat at 5,388.45 points.
Broader markets indices were quiet, with the BSE midcap index 0.13 percent up and the BSE smallcap index 0.12 percent higher.
Consumer durables, FMCG, IT stocks were among the major gainers, while PSU and energy scrips came under selling pressure.
The market breadth was negative, with 1,360 scrips advancing, compared to 1,540 stocks declining, and 120 remaining unchanged.
Among the gainers on the Sensex were Hindustan Unilever, up 2.15 percent at Rs.263.20; Tata Motors, up 1.41 percent at Rs.810.10; TCS, up 1.22 percent at Rs.784.10; and Tata Steel, up 1.08 percent at Rs.511.30.
Prominent losers included ONGC, down 1.56 percent at Rs.1,239.15; Reliance Com, down 1.53 percent at Rs.183.55; HDFC Bank, down 1.15 percent at Rs.2,064.30; and BHEL, down 1.04 percent at Rs.2,438.50.
Other major Asian markets ended in the negative following US Federal Reserve’s cautious outlook over the economic recovery.
The Japanese Nikkei closed 1.12 percent lower at 9,685.53 points, while the South Korean Kospi ended 0.38 percent down at 1,751.29 points.
Hong Kong’s Hang Seng too was in the red at 20,255.62 points, down 1.48 percent, while the Chinese Shanghai Composite index closed 1.87 percent lower at 2,424.3 points.
European markets were subdued as well, ahead of the US market opening and results by global financial services and asset management firm J.P. Morgan.
At the time of closing bell here, the UK’s FTSE 100 was ruling flat, while the French CAC 40 was trading 0.03 percent up at 3,634.02 points.
Its German peer the DAX was ruling 0.32 percent higher at 6,229.74 points.

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