Sensex closes 109 points down on profit booking

Mumbai, October 26: The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) on Monday closed 108.85 points, or 0.40 percent, down as as investors booked profits. The 30-scrip Sensex, which opened at 27,575.04 points, closed at 27,361.96 points, after touching a high of 27,618.14 points and a low of 27,318.20 points during the day. The wider 50-scrip Nifty of the tiol Stock Exchange (NSE) also closed in the negative territory - 34.90 points or 0.42 percent down at 8,260.55 points.

“After a positive opening, the Indian markets gave up all its gains as of higher level profit booking. The investors were now focusing on the F&O (futures and options) expiry for the October month in the week. Also the global cues were mainly focusing on the FED’s minutes,” said Alex Mathews, head - research, Geojit BNP Paribas Fincial Services.

“Indices opened on a strong note on the back of firm global cues and Chi’s rate cut on Friday, October 23, 2015 after closing of Indian markets. But due to subdued quarterly earnings by some key corporate of India Inc., gains were fizzled out as investors could not build enough confidence,” said Gaurav Jain, director, Hem Securities.

Foreign funds were net sellers of shares worth $41.47 million. In Monday’s trade, selling pressure was seen in oil and gas, consumer durables and metal sectors, while some good buying was observed in power, capital goods and IT sector.

In BSE, oil and gas index plunged 0.95 percent, consumer durables index dropped by 0.87 percent and metal index fell by 0.70 percent, while power index gained by 0.46 percent, capital goods index moved up by 0.38 percent and IT index got augmented by 0.24 percent.

The 100-scrip and 200-scrip indices were both down by 0.43 percent. Mid-cap index ended lower by around 0.52 percent and small-cap stocks fell 0.72 percent.The Sensex gainers were: BHEL, up 3.72 percent at Rs.217.55; Vedanta, up 2.40 percent at Rs.104.70; Bajaj-Auto, up 2.14 percent at Rs.2,567.55 and Tata Steel, up 1.38 percent at Rs.249.45.

The losers included: Coal India, down 2.40 percent at Rs.333.20; HDFC, down 2.09 percent at Rs.1,312.85; Bharti Airtel, down 1.91 percent at Rs.351.90 and Reliance Industries, down 1.34 percent at Rs.943. Among the Asian markets, Japan’s Nikkei was up by 0.65 percent and Chi’s Shanghai Composite Index was higher by 0.53 percent, while Hong Kong’s Hang Seng was lower by 0.15 percent. In Europe, London’s FTSE 100 was down by 0.26 percent, France’s CAC 40 was lower by 0.61 percent, while Germany’s DAX Index was higher by 0.14 percent at the closing in the Indian markets. (IANS)