 |
|
|
The Bombay Stock Exchange
|
Mumbai, Feb 7 (PTI)
Erasing early gains, the Bombay Stock Exchange (BSE) Sensex today snapped 5-day winning streak and fell 85 points to 17,622.45 on profit booking amid low growth projection for this fiscal and a weak trend in global markets as euro-zone debt crisis continued to worry investors.
Capital goods, realty, power, metals, teck and auto stocks lost ground.
Dampening market sentiment, the government projected GDP growth to be lower at 6.9% as against the Reserve Bank estimates of 7% in 2011-12 — from 8.4% last fiscal — due to slowdown in manufacturing, agriculture and mining sectors.
Besides, a weak trend in the Asian region and lower openings in Europe amid persisting debt crisis in the euro-zone nations, especially Greece, fuelled the downtrend.
Sensex heavyweights such as Infosys, HDFC, L&T, Bharti Airtel, Tata Steel, BHEL, and HUL closed in the red. However, gains in RIL, ITC, ICICI Bank, HDFC Bank and TCS cushioned the fall to some extent. Top heavyweight RIL gained 1.44% and restricted losses.
The BSE 30-share barometer touched a high of 17,832.04 in the morning, but fell on profit-booking and low growth projections to 17,622.45 -- down 84.86 points or 0.48%. In the last five sessions, it shot up 844.01 points or 5.01%.
Similarly, the NSE 50-scrip index Nifty fell 26.50 points or 0.49% to close at 5,335.15.
"The advance GDP numbers acted as a dampener for investor sentiments. Volatility was quite high as market witnessed another round of profit booking near the last one hour of the trading session," said Shanu Goel, research analyst at Bonanza Portfolio.
FIIs continued to invest in Indian equities. They bought shares worth Rs997.94 crore yesterday as per provisional data from the stock exchanges.
Globally, key indices in China, Japan and Hong Kong fell by up to 1.68%, while those in Singapore, South Korea and Taiwan gained by up to 0.60%.
European markets were trading lower in the afternoon. Indices in France (CAC), Germany (DAX) and the UK (FTSE) were down by up to 0.52%.
Out of the 30 Sensex shares, 22 ended with losses -- BHEL (4.22%), Tata Steel (3.30%), M&M (2.88%), Gail India (2.70%), DLF (2.66%), Bharti Airtel (2.46%), Sterlite (2.40%), L&T (2.08%), Infosys (1.85%), HDFC (1.75%), HUL (1.22%), NTPC (1.21%) and Hindalco (1.19%).
However, ITC shot up 1.38%, followed by ONGC 1.25% and ICICI Bank 0.98%.
Among the sectoral indices the BSE-Capital goods fell by 2.29%, followed by Realty - 2.10%, Power - 1.98%, Metal - 1.77% and Teck - 1.21% and Auto - 1.10%.
However, Oil & Gas gained 0.88%, Consumer Durables --0.61% and Bankex - 0.56%.
Market breadth at the BSE turned negative as 1,630 stocks ended with losses, while 1,247 scrips made gains. The total turnover rose to Rs3,452.77 crore from Rs3,193.63 crore yesterday.
Comments