ap7am logo
Logo Bar bseindia nse-india msn yahoo youtube facebook google thehindu bbc ndtv v6 ABN NTv Tv9 etv namasthetelangaana sakshi andhrajyothy eenadu ap7am bhakti espncricinfo wikipedia twitter

Sensex closes 296 points down, on negative global cues

Tue, Oct 07, 2014, 05:27 PM
Mumbai, Oct 7 : A benchmark index of Indian equities markets Tuesday closed trade 296.02 points down, as negative global cues led to heavy sell-offs in metal, healthcare and capital goods stocks.

All sectoral indices of the S&P Bombay Stock Exchange (BSE) were in red.

The Sensex which opened at 26,487.51 points closed trade at 26,271.97 points, down 296.02 points or 1.11 percent from the previous day's close at 26,567.99 points.

The Sensex touched a high of 26,570.38 points and a low of 26,250.24 points in the trade so far.

“Sensex lost over 200 points on weak global cues. The selling pressure gained momentum after economic data showed that Germany industrial output figures posted its worst fall for five and a half years," said Sanjeev Zarbade, vice president - private client group research, Kotak Securities.

"Following this, the European equities sold off. Investors are awaiting comments from FOMC (US Federal Open Market Committee), slated to be released on Wednesday, regarding its take on the timing of interest rate hikes especially in the light of the strong jobs data.”

Devendra Nevgi, chief executive of ZyFin Advisors said that retail investor should stay invested in the markets through systematic investment plan (SIP) despite the domestic and global driven volatility that may occur in the short term.

"The longer term Indian growth story and the cyclical improvements in macro's for India will ensure that India remains an attractive investment destination, especially if the reforms momentum accelerates,” Nevgi said.

Sector-wise, the S&P BSE metal index was down 301.48 points, followed by healthcare index which was lower by 265.21 points. Capital goods index lost 252.62 points, consumer durables index decreased by 168.24 points, bank index fell by 152.27 points, and automobile index was down 147.17 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed trade in red too. It closed down 93.15 points or 1.17 percent at 7,852.40 points.

The major Sensex gainers were: NTPC, up 1.19 percent at Rs.140.60; Gail, up 1.09 percent at Rs.443.45; Tata Motors, up 0.43 percent at Rs.504.90; Wipro, up 0.37 percent at Rs.617.85; and Tata Power, up 0.25 percent at Rs.81.15.

The losers were: Hindalco, down 4.35 percent at Rs.148.40; Sesa Sterlite, down 4.32 percent at Rs.258.95; Cipla, down 3.67 percent at Rs.600.35; DrReddy, down 3.18 percent at Rs.3,098.95; and HDFC, down 3.11 percent at Rs.1,017.65.

Among the Asian markets, Japan's Nikkei closed 0.67 percent down, while Hong Kong's Hang Seng gained 0.46 percent.

In Europe, London's FTSE 100 was trading down 0.60 percent down. Germany's DAX Index was lower by 0.78 percent, and the French CAC 40 Index slipped by 1.08 percent at the closing bell here.
Agency: IANS
X

Feedback Form

Your IP address: 50.16.107.222