Sensex ends flat; IT stocks plunge


Mumbai, Nov 18 (IANS): A benchmark index of Indian equities markets closed Tuesday's trade flat -- down 14.59 points or 0.05 percent -- as information technology (IT) stocks lost marginally.

However, the benchmark index touched a new intra-day high of 28,282.85 points, surpassing its previous record of 28,205.71 points hit Monday.

Sustained selling pressure was observed in consumer durables, oil and gas and healthcare sectors, while healthy buying was seen in capital goods, metal, automobile, bank and power scrip.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 28,209.03 points, closed trading at 28,163.29 points -- down 14.59 points or 0.05 percent from the previous day's close at 28,177.88 points.

The Sensex touched a record high of 28,282.85 points and a low of 28,119.95 points in the intra-trade.

"Market is consolidating waiting for winter session (of parliament) to uncover the measure especially GST, land act and insurance bill. This session will structure what can be expected from budget," said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

"The session will be held over enough time but market is holding high in expectation of reform. The second event risk is RBI meet, whether they will lower rate cut in December or later is the question. Based on these event stocks will be volatile, but market believes measures are nearby."

The S&P IT index dropped 81.81 points, consumer durable index went down by 54.06 points, oil and gas index lost 32.79 points and healthcare index declined by 30.67 points.

However, capital goods index was up 255.76 points, metal index gained by 111.76 points, automobile index rose 103 points, bank index was higher by 60.61 points and power index increased by 28.68 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed trade in the negative ending the day lower by 4.85 points or 0.06 percent at 8,425.90 points.

The major Sensex gainers were: Sesa Sterlite, up 4.09 percent at Rs.247.05; BHEL, up 2.01 percent at Rs.254.15; Larsen and Toubro (L&T), up 1.79 percent at Rs.1,644.70; Bharti Airtel, up 1.57 percent at Rs.398.45; and Tata Steel, up 1.42 percent at Rs.486.45.

The major Sensex losers were: Sun Pharma, down 1.94 percent at Rs.865.35; HDFC, down 1.90 percent at Rs.1,105.40; Hindalco Inds, down 1.61 percent at Rs.155.40; ONGC, down 1.49 percent at Rs.390.70; Tata Consultancy Services (TCS), down 1.18 percent at Rs.2,587.55; and Infosys lost 0.76 percent at Rs,4,176.90.

Among other Asian markets, Japan's Nikkei index was up 2.18 percent and Shanghai's Composite Index was higher by 0.67 percent. However, Hong Kong's Hang Seng was down 1.13 percent

In Europe, London's FTSE 100 was up 0.57 percent, France's CAC 40 was higher by 0.86 percent and Germany's DAX Index gained 1.33 percent.

  

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Title: Sensex ends flat; IT stocks plunge



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