BSE Sensex slumps by 165 pts; profit-booking continues for 3rd day

Apr 29 2014, 18:43 IST
Comments 0
HDFC Bank Ltd fell 1.1 percent, while State Bank of India ended lower 2.1 percent. (Reuters) HDFC Bank Ltd fell 1.1 percent, while State Bank of India ended lower 2.1 percent. (Reuters)
SummaryBSE benchmark Sensex today nosedived by over 165 points to 22,466.19...

Bankex 1.27 per cent, Auto 1.19 per cent, Power 1.11 per cent and FMCG 0.83 per cent.

The market breadth turned negative as 1,506 stocks ended in the red, 1,281 stocks finished in the green while 123 ruled steady. The total turnover rose to Rs 2,865.42 crs from Rs 2,765.58 crore yesterday.

Asian stocks ended mixed. Key benchmark indices in Taiwan, China, Hong Kong rose by 0.84-1.45 per cent while indices in South Korea and Singapore were down 0.15-0.23 per cent. Japanese markets were closed today for holiday.

European markets were trading higher in their early trade. Key indices in France, Germany and UK moved up by 0.06-0.61 per cent.

Shrikant Chouhan, Head- Technical Research, Kotak Securities: Nifty for todays session opened on a flat note, but quick acceleration on the down side was seen.PSU banks Metals were on weak side. Capital goods stocks were trading with exhaustion signs. For the coming session, Benchmark ability to trade above 6770 level will be crucial to watch out for. Inability to trade might bring in initial weakness in the market towards the levels of 6670-6630 levels. Reversal point for the market is placed above 6770 close. Closing above 6770 will indicate fresh strength and momentum. Trading above 6770 can scale the market towards 6880-6950 levels.

Indian shares hit lowest close in 1-1/2 weeks; lenders drag on FII sales

(Reuters) Indian shares fell for a third straight session and closed at their lowest level in 1-1/2 weeks on Tuesday as lenders including HDFC Bank declined on worries over offloading of index futures by foreign investors.

Lenders led declines as they form a major portion of index futures, with HDFC Bank losing 1.3 percent and State Bank of India ending down 1.9 percent.

Foreign institutional investors sold index futures worth 11.70 billion rupees ($193.21 million) over the previous two sessions, turning sellers for the first time since April 16.

Overseas buying in cash shares also slowed to 770 million rupees on Monday from 2.57 billion rupees on Friday.

A record-setting rally, driven by hopes of a revival in domestic economy and that the Bharatiya Janata Party led by Narendra Modi will form the next government, is now chipping off as investors chose to book profit amid the January-March earnings season.

Subdued earnings from key companies, including Sesa Sterlite

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...