Sensex opens low at 18,681.10 pts

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Mumbai, Nov 13: The BSE sensitive index today resumed low at 18,681.10 points with a small loss of around 56 points from it last close of 18,737.27 points on profit booking by FIIs and local Mutual Fund operators.

Brokers said, ''The select equities opened lower on the back of mixed global cues and due to absence of domestic triggers to take the market higher.'' Reliance Industries and ICICI Bank edged lower. Power stocks were in demand. Asian stocks were trading mixed.

later, the 30-share BSE Sensex was down 14.40 points or 0.08 per cent at 18724.61. At the day's low of 18,636.21, the Sensex lost around by 100 points from it last close.

The broader CNX S&P Nifty index of NSE also opened a low at 5612.35 points from it last close of 5617.10 points. Later, it recorded a high of 5656.20 and a low of 5591.60 points in intra-day trade.

NTPC gained by 3.51 per cent at Rs 262.40, Tata Steel was up by 1.77 per cent at Rs 827.70, Larsen&Toubro hardened by 1.45 per cent at Rs 4,227.85, Grasim Industries grew by 1.16 per cent at Rs 3,589.50 and Bharat Heavy Electricals (Bhel) rose by 1.41 per cent at Rs 2,768.

Reliance Communication was up by 3.47 per cent at Rs 718.50. The Company, along with three foreign contenders, has reportedly submitted bids for a 51 per cent stake in Kenya's state-run Telkom Kenya.

Wipro lost by 2.72 per cent at Rs 445, ICICI Bank was down by 2.61 per cent at Rs 1116.70, HDFC Bank gave away 1.80 per cent at Rs 1,449, Mahindra&Mahindra lost by 1.46 per cent at Rs 717.70 and Infosys Technologies fell by 1.37 per cent at Rs 1,619.40.

The newly launched BSE Power index moved up by 1.78 per cent to 4,472.48. Neyveli Lignite jumped by 4.16 per cent at Rs 202.80, Torrent Power moved up by 3.84 per cent at Rs 189.25, Power Grid Corporation of India rose by 2.49 per cent at Rs 156.60, Reliance Energy gained by 1.16 per cent at Rs 1,840 and Tata Power hiked by 1.94 per cent at Rs 1,245.

The BSE Capital Goods index moved up by 1.29 per cent at Rs 19,878.48.

Asian markets were trading mixed today, as Hong Kong's Hang Seng was up by 1.79 per cent at 27,171.83 and Taiwan Weighted rose by 0.21 per cent at 8,733.50. South Korea's Seoul Composite, however, was down by 0.53 per cent at 1,926.62, Japan's Nikkei also eased by 0.17 per cent at 15,170.56 and Singapore's Straits Times came down by 0.55 per cent at 3,491.76.

US markets edged lower yesterday on expectations of further fallout from the ongoing credit crisis. The Dow Jones industrial average fell by 55.19 points, or 0.42 per cent, at 12,987.55. The S&P 500 index slipped by 14.52 points, or 1 per cent, at 1,439.18, while the Nasdaq Composite index dropped by 43.81 points, or 1.67 per cent, at 2,584.13.

Domestic bourses extended their losses for the sixth consecutive session yesterday on sustained selling pressure. The 30-share BSE Sensex declined by 170.33 points or 0.90 per cent at 18,737.27 on worries that the fallout from the US sub-prime markets is spreading deeper into the credit markets and will eventually slow the growth of the US economy.

The foreign inflows have slowed in November 2007 after the market regulator curbed the use of participatory notes used by unregistered foreigners to buy Indian shares, while the lingering credit worries in the United States have also weighed. As per provisional data, FIIs sold shares worth a net Rs 1,194.38 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 65.99 crore yesterday, brokers added.


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