Sensex ends 85.83 points down, closes at 16,698

Written by:
Subscribe to Oneindia News

Mumbai, Apr 23: The benchmark Sensex of the Bombay Stock Exchange, after six straight gains, today ended with a negative gap of 85.83 points at 16,698.04 points on profit booking interest in select pivotals. The heavyweight stocks like SAIL and ICICI Bank drifted lower on selling pressure by local operators. Banks, metal, capital goods, power and oil stocks slipped today on negative notes. However, realty and some technology stocks witnessed good demand.

Meanwhile, the broader-based Nifty index of National Stock Exchange ended at 5,022.80 down by 26.50 points. The market breadth was positive. On BSE, 1420 shares advanced against 1304 that declined and 59 remained unchanged. Seventeen shares from the 30-member Sensex pack declined.

The total turnover on BSE was Rs 6312 crore.

' Banking shares were weak throughout the day. HDFC Bank, the country's second largest private sector bank in terms of net profit slipped 3.20 pc to Rs 1440 on 75,330 shares. It was the top loser from the Sensex pack. ICICI Bank slipped 1.75 pc to Rs 867 on 9.25 lakh shares. It recovered from day's low of Rs 845.35 State Bank of India, the country's largest lender, slipped 2.14pc to Rs 1,695.05 after its Chairman O P Bhatt today said the bank is making a provision of USD 10 million towards mark-to-market losses due to the subprime crisis overseas.

Bhatt said the bank's customers' exposure to foreign exchange derivative losses could be between Rs 600-700 crore (USD 150-175 million), which would be accounted for on customers' books.

Index heavyweight, RIL fell 1.38 pc to Rs 2,571.35 on 8.24 lakh shares. The stock moved in a range of 2566.25 and Rs 2632.75 during the day. RIL said on Tuesday it had formed a joint venture with Office Depot to provide office products and services in India. The two firms have also acquired eOfficePlanet, an Indian office products and services dealer, to accelerate the rollout of the joint venture.

Moreover, Bharat Heavy Electricals was down 2.71 pc to Rs 1821, Ranbaxy Laboratories by 1.92 pc to Rs 477.80 and Bharti Airtel declined 1.43 pc to Rs 844.05, from the Sensex pack.

However, Maruti Suzuki India gained 1.39pc to Rs 764.80 ahead of its March 2008 quarterly results on tomorrow.

IT pivotals gained on fresh buyings. Wipro went up 3.32pc to Rs 445, TCS was up 0.45pc to Rs 891 and Infosys moved up 3.38pc to Rs 1653. Satyam Computer Services slipped 1.23pc to Rs 430.50, off its day's low of Rs 422.

Hindustan Unilever advanced 1.51 pc to Rs 241.50. The company will unveil its Q1 results on 28 April.

Real estate shares advanced on fresh buying. DLF was up 1.59 pc to Rs 684.90, Unitech moved up 2.05pc to Rs 286.25, Akruti City up 2.28 to Rs 1,115, were the other gainers of the day.


Please Wait while comments are loading...