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BW Businessworld

Sensex Ends With Modest Fall On Third Day, Down 24 Pts

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Hectic short-covering and value buying in frontline counters helped the BSE-benchmark Sensex to cap heavy losses and finished modestly lower by 23.78 points at 26,813.42, extending the slide for the third- consecutive day.
After witnessing intense see-saw momentum most part of session, bourses staged a smart recovery toward the tail-end as retail investors' and funds opted for selective buying in beaten down heavyweights which somewhat supported the key indices to escape from major losses.
The 30-scrips Sensex opened higher at 26,940.64 and swung widely between a high 26,948.84 and a low of 26,651.97 before concluding at 26,813.42, registering a nominal loss of 23.78 points, or 0.09 per cent.
Similarly, the Nifty index also finished marginally lower by 4.45 points at 8,130.65 after hitting a intra-day low of 8,056.75.
Elsewhere in Asia, barring Hang Seng most equities ended higher with key indices like China, Japan, Singapore and South Korea up by 0.07 per cent to 0.76 per cent. While European markets tumbled in early trade following a spike in bond yields as well as renewed concerns over a potential Greek default.
Meanwhile, foreign portfolio investors net sold shares worth Rs 727.61 cr yesterday while Domestic institutional investors (DIIs) net bought shares worth Rs 412.66 cr according to provisional data.
In individual stocks news, shares of Nestle extended losses, sliding as much as 2.91 per cent to end at 6,010.80 following controversy around its Maggi noodles.
Of 30-share Sensex pack, 19 stocks ended with losses while 11 finished higher.
Among the S&P sectoral indices, metal, consumer durable, healthcare, Fmcg and auto remained weak. However, capital goods, realty, oil&gas, power and banking attracted good buying interest.
Major index losers were Tata Steel fall by 2.58 per cent, ONGC 2.16 per cent, VEDL 1.89 per cent, Icici Bank 1.74 per cent, Bajaj Auto 1.37 per cent, Bharti Airtel 1.25 per cent, Sun Pharma 1.22 per cent, Heromotoco 1.15 per cent, Tata Motors 1.12 per cent, NTPC 1.12 per cent, HUL 1.11 per cent and ITC 0.85 per cent.
Notable gainers included Reliance up by 1.85 per cent, Wipro 1.75 per cent, HDFC 1.18 per cent, HDFC Bank 1.05 per cent, Axis Bank 0.98 per cent and BHEL 0.91 per cent.
The market breadth indicating the overall health of the market remained weak as 1,382 stocks declined, while 1,273 advanced and 119 ruled steady. The total turnover jumped to Rs 4,681.34 crore from Rs 3,501.33 crore yesterday.


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