Key Indian equity indices end in red following global cues
Mumbai, June 10 (IANS) Key Indian equity market indices ended in red on Friday as weakness continued in the European market.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 26,742.26 points, closed at 26,635.75 points — down 127.71 points, or 0.48 percent over the previous day’s close at 26,763.46 points.
It touched a high of 26,972.06 points and a low of 26,620.50 points in the day’s trade.
Out of the 30 scrips in the Sensex, 21 ended in the red and only nine in the green.
The wider Nifty of the National Stock Exchange closed 33.55 points or 0.41 percent down at 8,170.05 points.
“Continued weakness in the European market and a positive expectation over India’s Index of Industrial Production data (later in the day) oscillated the market, which in the end closed with a loss of 0.41 percent,” said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.
“With oil also pulling back, global markets retracted to a risk off mode, paring the weeks’ gains, and Indian stocks tagged along, as approaching twin risks of Brexit as well as Federal Open Market Committee rate decision kept risk appetite subdued. However, with IIP data due for release later in the day, expected to have improved, losses were limited,” said Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services.
The 100-scrip and 200-scrip indices of the BSE both ended lower by 0.42 per cent. The mid-cap index was lower by 0.40 per cent and the small-cap stocks were lower by 0.20 per cent.
In Friday’s trade, good buying was observed in power sector, while selling pressure was seen in realty, auto and consumer durables sectors.
Sector-wise, the S&P BSE power index gained by 0.60 per cent, while realty index dropped by 1.03 per cent, auto index fell by 0.95 per cent and consumer durables index went down by 0.71 per cent.
The major Sensex gainers on Friday were: BHEL, up 2.02 per cent at Rs 123.65; Lupin, up 0.64 per cent at Rs 1,437.10; and NTPC, up 0.50 per cent at Rs 151.15.
The losers were: GAIL, down 2.09 per cent at Rs 367.45; Tata Steel, down 2.08 per cent at Rs 334.95; Tata Motors, down 2.04 per cent at Rs 457.20; and Coal India, down 1.98 per cent at Rs 307.15.
Among the Asian markets, Japan’s Nikkei was lower by 0.40 per cent and Hong Kong’s Hang Seng ended lower by 1.20 per cent.
In Europe, London’s FTSE 100 was lower by 1.61 per cent, Germany’s DAX Index was down by 2.11 per cent, and France’s CAC 40 was lower by 1.86 per cent at the closing of the Indian markets.