Key Indian equity indices end low after volatile trade
Mumbai, May 23 (IANS) Key Indian equity market indices that started in the green ended in red on Monday after a volatile day as investors booked profit.
The sensitive index (Sensex) of the BSE, which opened at 25,447.72 points, closed at 25,230.36 points — down 71.54 points, or 0.28 percent over the previous day’s close at 25,301.90 points.
It touched a high of 25,519.26 points and a low of 25,207.78 points in the day’s trade.
The wider Nifty of the National Stock Exchange closed 18.65 points or 0.24 percent lower at 7,731.05 point.
“Key benchmark indices started the day in the green and traded in the positive zone for most of the trading session. However, a small bout of volatility and some profit booking dragged the markets lower. It is the beginning of the derivatives expiry week and the markets are likely to experience more swings during the course of the week,” said Shreyash Devalkar, fund manager – equities, BNP Paribas Mutual Fund.
The 100-scrip and 200-scrip indices of the BSE were lower by identical 0.23 percent each. The mid-cap index was lower by 0.29 percent, and small-cap stocks were down by 0.38 percent.
In Monday’s trade, good buying was observed in fast moving consumer goods (FMCG) and telecom sectors, while selling pressure was seen in realty and oil and gas sectors.
Sector-wise, the S&P BSE FMCG index gained by 2.12 percent and telecom index got augmented by 0.82 percent, while realty index dropped by 0.71 percent and oil and gas index slipped by 0.68 percent.
The major Sensex gainers on Monday were: ITC, up 5.29 percent at Rs.347.40; Adani Ports, up 1.77 percent at Rs.181; and Bharti Airtel, up 0.99 percent at Rs.346.25.
The losers were: Tata Steel, down 2.88 percent at Rs.313.60; Lupin, down 2.57 percent at Rs.1466.50; and ONGC, down 2.18 percent at Rs.208.30.
Among the Asian markets, Japan’s Nikkei was lower by 0.49 percent, Hong Kong’s Hang Seng was down by 0.22 percent, while China’s Shanghai Composite Index ended higher by 0.66 percent.
In Europe, London’s FTSE 100 was lower by 0.30 percent, France’s CAC 40 was down by 0.96 percent and Germany’s DAX Index was lower by 0.72 percent at the closing of the Indian markets.