BSE Sensex continues retreat from 3-year closing high, Gail India, Cipla shares top gainers

Oct 23 2013, 19:08 IST
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BSE Sensex, NSE Nifty fell despite FIIs buying, with Tata Motors shares among the blue chips hit hard. AP BSE Sensex, NSE Nifty fell despite FIIs buying, with Tata Motors shares among the blue chips hit hard. AP
SummaryBSE Sensex falls 0.47 pct, NSE Nifty ends 0.39 pct lower, FIIs remain net buyers of Indian shares.

Falling for the second day, the benchmark BSE Sensex today slid by another 97 points to its lowest level in nearly a week on persistent selling in blue-chips and declines in global stocks as markets trends turned after weak US jobs data was unveiled - GAIL India, Cipla Ltd in top gainers list; blue chips such as Tata Motors and software services exporters declined.

*Stocks: Top Gainers and Top Losers

After losing 29 points yesterday, the BSE Sensex resumed higher at 20,875.31 and firmed up further to 20,922.32 on initial strong buying on the back of foreign capital inflows.

However, the 30-share barometer later declined steeply to 20,589.72, before ending at 20,767.88 -- a loss of 97.09 points or 0.47 per cent from its last close. This is the lowest closing level for BSE Sensex since October 17 (20,415.51).

Sensex October 23

"It seems that the markets took the poor jobs data as a sign that it would negatively impact export driven industries tied to US importers as the Auto and IT sectors suffered falls," said Raghu Kumar, co-founder of brokerage firm RKSV.

US data showed yesterday that employers there added 148,000 workers in September -- lower than the 170,000-180,000 jobs estimated by experts.

The NSE Nifty ended lower by 24.45 points, or 0.39 per cent, to 6,178.35. Also, SX40 index, the flagship index of MCX-SX, closed at 12,338.82, down 64.34 points.

Brokers said selling in bluechips had picked up following disappointing quarter earnings by some companies. However, Hero MotoCorp gained 0.9 per cent after reporting over 9 per cent rise in Q2 profit.

IT major Wipro ended 4.41 per cent down after the company's sequential revenue growth continued to lag peers in September quarter while Tata Consultancy Services (TCS) and Infosys Ltd fell on profit-taking.

HDFC Bank, Reliance Industries (RIL), Sun Pharmaceuticals Industries, Tata Motors and Oil & Natural Gas Corp (ONGC) fell in 1-2 per cent range. However, ICICI Bank, State Bank of India (SBI) and Larsen & Toubro (L&T) shot up.

Sensex October</p></font>
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