Mahurat trading ends red for first time in 7 yrs, dips 151 pts

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Mumbai, Nov 9 (UNI) The market on the first day of Vikram Samvat 2064 closed on negative note at the Bombay Stock Exchange (BSE) with the benchmark Sensex sliding 151.33 points to close below 19K level at 18907.66 in Mahurat trading.

It was the first time in the last seven years that the market witnessed a negative ending on this auspicious day of trading as the market was observing correction and consolidation for the past few sessions, dealers said.

Sensex opened positive at 19282.70 with a gain of more than 220 points from its previous close of 19058.93. It maintained to be in the green in the first half of the hour and later slipped into red, touching a low of 18737.22, shedding more than 580 points from a high of 19,329.57 during the Mahurat trade, dealers said.

Similarly, the broad-based National Stock Exchange index Nifty ended 35.50 points low at 5663.25 from the previous close of 5698.75, in the one-hour Mahurat trade. Nifty started with a marginal gain at 5703.45, touched a low of 5614.20 by shedding 180 points from a high of 5794.20 during the hour-long trade.

Dealers said the Indian market ended in negative zone due to continued correction and consolidation that started in the past few sessions on account of credit concern in US markets.

Among the key indices, NTPC, Reliance Ind, Reliance Communication, HPCL, BPCL, Suzlon Energy and Cipla were among the top gainers. Whereas, major IT, telecom and banking stocks ended in red. Wipro, ICICI Bank, Satyam, ACC, Bharti Airtel, Tata Steel, SAIL and Tata Power were among the top losers during the Mahurat trade.

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