Mumbai: A benchmark
index for Indian equities markets fell sharply Friday to close
almost 300 points lower as traders booked profits after a
three-day rally. Negative cues from other global markets also
added to the downward pressure.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at
17,189.75 points, closed at 16,866.97, down 298.57 points or 1.74
percent from its previous close at 17,165.54.
The 50-scrip S&P CNX Nifty of the National Stock Exchange too
closed lower at 5,059.45 points, down 1.82 percent.
Broader markets also saw widespread selling. The BSE midcap index
closed 0.84 percent down, and the BSE small cap index ended 0.75
percent lower. The BSE 100 was down 1.77 percent.
The market breadth was negative with 1,203 stocks advancing, 1,663
on the decline and 104 remaining unchanged.
According to data available with the Securities and Exchange Board
of India (SEBI), foreign institutional investors bought stocks
worth $6.36 million Friday.
Major gainers on the Sensex included: Hindustan Unilever, up 2.52
percent at Rs.333.25; Hero MotoCorp, up 2.05 percent at
Rs.2,215.10; ONGC, up 0.34 percent at Rs.261.85 and HDFC, up 0.23
percent at Rs.660.
Prominent losers were SBI, down 3.68 percent at Rs.1,954.90; RIL,
down 3.33 percent at Rs.825.10; Tata Motors, down 3.21 percent at
Rs.763.60; and Infosys, down 2.88 percent at Rs.2,271.20.
Other Asian markets closed lower in choppy trade amid growing
concerns of the state of the global economy. Investors were
worried after Christine Lagarde, managing director of the
International Monetary Fund said that downside risks to growth had
increased across the world.
Japan's Nikkei closed 0.63 percent lower at 8,737.66 points, while
China's Shanghai Composite index ended flat at 2,497.75 points.
Hong Kong's Hang Seng index also closed lower at 19,866.63 points,
down 0.23 percent.
European stocks, were trading lower, as traders were disappointed
after Federal Reserve chairman Ben Bernanke offered no details on
measures to revive the economy in a speech delivered Thursday.
Britain's FTSE 100 was trading 0.67 percent down at 5,304.56
points, while the German DAX was ruling 1.11 percent lower at
The French CAC 40 was also down 1.33 percent at Rs.3,044.66