Thursday, June 24, 2010

Sensex ends flat amid depressed global cues (Roundup)

People watch a large screen displaying India's benchmark share  index on the facade of the Bombay Stock Exchange (BSE) building in  Mumbai January 24, 2008. REUTERS/Punit Paranjpe/Files

People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai January 24, 2008.

A key index for Indian equities Thursday ended 25 points lower on a dull day of trade on depressed global cues after the Federal Reserve struck a cautious note on the strength of the U.S. economic recovery.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,750.51 points, ended at 17,730.24 points, 25.7 points or 0.14 percent down from its previous close at 17,755.94 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed at 5,320.6 points, down 0.05 percent from its previous close at 5,323.15 points.

Broader markets indices too were lacklustre. The BSE midcap index closed 0.12 percent higher and the BSE smallcap index 0.17 percent up.

The market breadth was tilted towards the positive, with 1,569 scrips on the advance, compared to 1,298 stocks declining, and 111 remaining unchanged.

Realty and energy scrips saw some selling pressure, while FMCG stocks saw some buying.

Among gainers on the Sensex were Hindustan Unilever, up 1.67 percent at Rs.270.80; L&T, up 1.25 percent at Rs.1,787.10; Hero Honda, up 0.85 percent at Rs.2,055.25; and ITC, up 0.79 percent at Rs.305.25.

Prominent losers included Reliance Infra, down 1.95 percent at Rs.1,162.60; ICICI Bank, down 1.9 percent at Rs.884.85; Maruti Suzuki, down 1.64 percent at Rs.1,384.25; and TCS, down 1.49 percent at Rs.775.

According to data with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $79.83 million Thursday.

On the last day of June futures and options, a spate of short coverings tapered off as trading progressed in other Asian markets.

Traders were averse to taking up new positions after the Federal Reserve Wednesday scaled back its outlook on the pace of economic recovery and acknowledged that there were pockets of weakness which needed to be plugged.

The Japanese Nikkei ended flat at 9,928.34 points, up 0.05 percent, while the South Korean Kospi closed at 1,739.87 points, 0.81 percent higher.

Hong Kong's Hang Seng shut shop 0.59 percent down at 20,733.49 points. The Chinese Shanghai composite index too was in the red at 2,566.75 points, down 0.12 percent.

European markets were in the red as well, with fears resurfacing on the strength of the economic recovery.

In Britain, the benchmark index, FTSE 100 was ruling 0.64 percent lower at 5,145.47 points, while the French CAC 40 was down 1.05 percent at 3,603.52 points.

The German DAX was trading 0.72 percent lower at 6,159.74 points.

Source http://sify.com/finance/sensex-ends-flat-amid-depressed-global-cues-roundup-news-default-kgyskdjfeeg.html

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