Business & Economy

BSE Sensex ends at 17,464.85, down by 15.98 pts

United News of India

Mumbai, November 2, 2011

The Sensex of the Bombay Stock Exchange (BSE) registered a modest loss of 15.98 points to 17,464.85 at the end of the session today on selling pressure from local operators amid mixed trend in Asian markets.
However, the Nifty of the National Stock Exchange (NSE) finished at a steady level at 5258.45.
Volatility was at the forefront as key benchmark indices reversed direction and slipped into the red once again in late trade as European stocks and US index reversed initial gains.
The Sensex eased by 32.22 points in the opening session. A see-saw trend was witnessed during the day. It had gone up by 135.09 points to 17,615.92, the day's high and recorded 17,337.65, the day's low, a one-week-low.
Till the end of the day, it erased its gains and settled at 17,464.85 points, down by 15.98 points.
Hero MotoCorp, Bharti Airtel, BHEL, Coal India, ICICI Bank, L&T, Maruti Suzuki and HDFC dragged the market for the third day today.
Reliance, Tata Power, Jindal Steel, M & M, TCS, SBI and Bajaj Auto capped the losses to some extent, brokers said.
The market reversed the direction and slipped into the red once again in late trade as European stocks and US index futures reversed initial gains. 
The market breadth was negative. Index heavyweight Reliance Industries (RIL) trimmed initial gains. Another index heavyweight L&T edged lower in volatile trade. 
Reliance Communications moved up on reports that RIL is likely to use the towers and fibre optic cables of Reliance Communications controlled by Anil Ambani to provide high-speed data services. Other Anil Dhirubhai Ambani Group (ADAG) shares also edged higher. Shares of Reliance Communications rose by 4.84 per cent.
Many other Anil Dhirubhai Ambani Group shares rose. Reliance Infrastructure, Reliance Capital, Reliance MediaWorks and Reliance Power gained between 1.16 per cent and 3.16 per cent.
Interest rate sensitive banking stocks were mixed. Realty stocks edged lower in volatile trade. IT stocks were mixed.
The turnover was Rs 1984 crore, lower than Rs 2238.26 crore yesterday. The market breadth was negative. On BSE, 1,323 shares rose and 1,495 fell. A total of 117 shares were unchanged. From the 30-share Sensex pack, 18 fell and the remaining rose.
European stocks reversed initial gains today ahead of emergency talks among European Union leaders to discuss Greece's call for a referendum on EU plans to stem the region's debt crisis.
The key benchmark indices in Germany and UK fell between 0.19 per cent and 0.58 per cent.
A mixed trend was witnessed in Asian markets. Key benchmark indices in China, Hong Kong, Indonesia and Singapore rose between 1.38 per cent and 2.12 per cent. Key benchmark indices in Japan, South Korea, and Taiwan were down between 0.31 per cent and 2.21 per cent.