Monday, April 14, 2014

sensex



Sensex closes 86 pts lower ahead of IIP data


Sensex closes 86 pts lower ahead of IIP dataSensex closes 86 pts lower ahead of IIP data

The BSE benchmark Sensex on Friday fell from record levels by losing over 86 points as cautious investors booked profits ahead of inflation data and earning season amid a slide in global markets.

The Sensex dropped by 86.37 points, or 0.38 per cent, to close at 22,628.96. On Thursday, the index had zoomed to all-time high of 22,792.49 in day trade.

The broad-based Nifty of the National Stock Exchange lost 20.10 points, or 0.30 per cent, to 6,776.30. It touched a low of 6,743.15 intra-day.

Cautious investors indulged in profit booking at higher levels ahead of industrial production data to be released later in the day, brokers said. Investors are also awaiting for inflation figure and quarterly earnings from next week for further direction, they added.

The market was also in a cautious mood following a long week-end as market will be closed on Monday for 'Ambedkar Jayanti'.

A weak trend in the Asian region and lower opening in Europe following a steep fall in technology stocks at US markets overnight, further influenced the sentiment.

Reliance Industries dropped by 1.65 per cent before the earnings, leading the oil and gas sector index to suffer the most by 1.28 per cent.

The auto sector index was the second worst performer by losing 1.20 per cent following reports of fall in car sales for the second consecutive fiscal in 2013-14.

In 30-BSE index components, 19 stocks declined led by State Bank of India, Maruti Suzuki, Mahindra and Mahindra, Larsen and Toubro, Bajaj Auto and Hero MotoCorp.

HDFC Ltd, Gail India, ICICI Bank and Hindustan Unilver also declined.

The benchmark BSE Sensex was trading over 100 points down after opening over 108 points up in morning trade on Tuesday. At 10.28 am, Sensex was down 140.91 points at 22488.05. Similarly, Nifty was down 40.90 points at 6735.40 during the same time.

Disappointing IIP numbers released after market hours on Friday, affected the opening trade gain. Besides, a mixed trend in the other Asian markets also influenced the trading sentiment.

Shares of Infosys rallied by 3.31 per cent to Rs 3,343 in early trade.

Among other Asian markets, Japan's Nikkei gained 1.14 per cent while Hong Kong's Hang Seng shed 0.14 per cent in morning trade on Tuesday.

The US Dow Jones Industrial Average ended 0.91 per cent higher in Monday's trade

vimal singh

pgdm 1styr




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