Sensex crosses 21K but closes down 42
26 Oct 2013 4:25 AM IST
TCS, Reliance Industries, Wipro and Infosys were the biggest drag on the index. Coal India, Jindal Steel and BHEL were among the major losers as 19 shares on the Sensex declined. Among the sectoral indices, IT, power, realty and metal retreated.
The 30-share S&P BSE Sensex opened little changed and surged to 21,039.42, crossing the 21K mark after 35 months on buying in auto, banking, consumer durables and oil and gas sectors on the back of persistent foreign capital inflows. The index then retreated and closed at 20,725.43, a drop of 42.45 points (0.20 per cent). The Sensex was last above 21,000 on Nov 8, 2010.
The CNX Nifty on the National Stock Exchange (NSE) moved down 14 points (0.23 per cent) to 6,164.35. The SX40 on the MCX Stock Exchange closed at 12,331.32, down 7.5 points.
Brokers said that investors judged the rally was overdone. A section of the market booked profits after disappointing earnings led by Jet Airways and Ambuja Cements, they added.
Shares of PSU banks gained after the Ministry of Finance said after trading hours on Wednesday that the government has approved infusion of Rs 14,000 crore in 20 lenders. Overseas investors pumped in a net Rs 644.80 crore in shares yesterday, according to preliminary data from the stock exchanges.
Most Asian markets ended higher after a measure of Chinese manufacturing hit a seven-month high. Key indices in South Korea, Singapore, Taiwan and Japan rose while indices in China and Hong Kong fell. European markets were higher in early trade as indices in France, Germany and UK moved up.
In the domestic market, 10 Sensex shares gained while Sesa Sterlite was unchanged. The major losers on the index were Wipro (-4.25%), Coal India (-3.25%), TCS (-2.52%), Jindal Steel (-1.85%) and BHEL (-1.68%). The gainers included Mahindra & Mahindra, which rose 2.59%, followed by Larsen and Toubro 1.83%, GAIL India 1.49%, HDFC Bank 1.34% and Tata Motors 1.28%.
Among the sectoral indices S&P BSE IT dropped 1.77%, followed by S&P BSE Teck 1.53%, S&P BSE Power 1.14% and S&P BSE Realty 1.12%. However, S&P BSE Capital Goods firmed up 1.15%, followed by S&P BSE Auto 0.61% and S&P BSE Consumer Durables 0.49%.
The 30-share S&P BSE Sensex opened little changed and surged to 21,039.42, crossing the 21K mark after 35 months on buying in auto, banking, consumer durables and oil and gas sectors on the back of persistent foreign capital inflows. The index then retreated and closed at 20,725.43, a drop of 42.45 points (0.20 per cent). The Sensex was last above 21,000 on Nov 8, 2010.
The CNX Nifty on the National Stock Exchange (NSE) moved down 14 points (0.23 per cent) to 6,164.35. The SX40 on the MCX Stock Exchange closed at 12,331.32, down 7.5 points.
Brokers said that investors judged the rally was overdone. A section of the market booked profits after disappointing earnings led by Jet Airways and Ambuja Cements, they added.
Shares of PSU banks gained after the Ministry of Finance said after trading hours on Wednesday that the government has approved infusion of Rs 14,000 crore in 20 lenders. Overseas investors pumped in a net Rs 644.80 crore in shares yesterday, according to preliminary data from the stock exchanges.
Most Asian markets ended higher after a measure of Chinese manufacturing hit a seven-month high. Key indices in South Korea, Singapore, Taiwan and Japan rose while indices in China and Hong Kong fell. European markets were higher in early trade as indices in France, Germany and UK moved up.
In the domestic market, 10 Sensex shares gained while Sesa Sterlite was unchanged. The major losers on the index were Wipro (-4.25%), Coal India (-3.25%), TCS (-2.52%), Jindal Steel (-1.85%) and BHEL (-1.68%). The gainers included Mahindra & Mahindra, which rose 2.59%, followed by Larsen and Toubro 1.83%, GAIL India 1.49%, HDFC Bank 1.34% and Tata Motors 1.28%.
Among the sectoral indices S&P BSE IT dropped 1.77%, followed by S&P BSE Teck 1.53%, S&P BSE Power 1.14% and S&P BSE Realty 1.12%. However, S&P BSE Capital Goods firmed up 1.15%, followed by S&P BSE Auto 0.61% and S&P BSE Consumer Durables 0.49%.
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