Profit booking pulls down Sensex 291 points (Roundup)

MUMBAI - Indian equities came under selling pressure Tuesday, with a key index falling sharply in the last session to close 291 points lower than its last closing figure.

The benchmark index of the Bombay Stock Exchange (BSE), the Sensex, which opened at 14,830.97 points, ended trade at 14,493.84 points - 291.9 points or 1.97 percent lower than Monday’s close. It had risen more than 414 points during the day.

Similarly, the S&P CNX Nifty of the National Stock Exchange (NSE) ended the day 2.27 percent down at 4,291.1 points.

Broader market indices did much better, with the BSE midcap index ending 2.94 percent down, while the BSE smallcap index closed 2.51 percent lower than its previous close.

All 13 sectoral indices on the BSE ended in the red, with those for realty, metal and power stocks losing the most. Realty stocks saw bulk of the selling activity with the sectoral index for such stocks ending 7.42 percent down.

The market breadth was negative, with 757 stocks advancing compared to 1,846 declining, while 74 scrips remained unchanged.

There were only three gainers on the 30 scrip composite Sensex - Hero Honda, up 1.08 percent at Rs.1,397.85; TCS, up 0.98 percent at Rs.389.70; and Hindustan Unilever, up 0.36 percent at Rs.267.10.

Among losers were DLF, down 8.05 percent at Rs.310.80; Tata Motors, down 7.23 percent at Rs.291.15; Jaiprakash Associates, down 7.22 percent at Rs.205.05; and Sterlite, down 6.01 percent at Rs.607.85.

Total traded turnover stood at Rs.78,432.23 crore. This included Rs.19,313.04 crore from the NSE cash segment and Rs.52,352.53 crore from NSE futures and options, while BSE cash segment contributed the remaining Rs.6,766.66 crore.

Data with the market watchdog, Securities and Exchange Board of India (SEBI), showed that foreign funds were net buyers, lapping up shares worth $82.4 million Tuesday.

Asian markets ended mixed, with the Nikkei 225 Stock Average, a key index of the Tokyo stock exchange, closing 174.97 points higher to end Tuesday’s trade at 9,958.44 points, while the Hang Seng, a primary index of the Hong Kong stock exchange, fell 149.78 points to shut shop at 18,378.73 points.

European markets were trading flat, with the FTSE, a key British index, ruling 2.67 points lower at 4,291.36 points.

Similarly, its French peer, CAC 40, was trading just below its last closing figure at 3,189.12 points, a decrease of 4.56 points.

US stocks were poised for a green start, with key indices futures trading in the positive terrain.

While the Dow Jones future was ruling 0.2 percent higher than its previous close, the Standard and Poor’s 500 index future was up 0.4 percent.

The technology scrip-heavy Nasdaq future was up 0.1 percent.