Sensex closes flat at 10,725 pts affected by global weakness

Mumbai, Mar 7 (UNI) The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) today closed flat at 10,725, down by nine points as compared to last close of 10,735.

Sentiments were down as the world and Asian markets closed weaker with the New York Stock Exchange(NYSE) closing 0.65 per cent lower and the Japanese and the Korean markets losing substantially.

The Japanese market index Nikkei closed lower by 1.10 per cent and the Korean market index by 2.1 per cent.

Earlier, the Sensex opened 12 points up at 10,747 as compared to last close of 10,735. It hit a fresh all time high of 10,753 in the mid-morning trade, but then headed south touching a low of 10,661, falling by around 90 points.

Healthy inflow of Rs 390 crore in the equity markets on Friday did not allow the market sentiment turn entirely negative.

Mill land owning companies were in lime light today with the Supreme Court verdict coming in their favour to develop mill land.

Bombay Dyeing moved up by 20.01 per cent to Rs 473.90, Century Textiles was up by 7.93 per cent to Rs 421.95, India Bulls went up by 12.72 per cent to Rs 226.75, Godrej Industries by 14.40 per cent to Rs 510.10 and Morarjee Realty moved up by 15.98 per cent to Rs 505.15. Even Hindustan Motors, having land in Kolkata, gained by 8.6 per cent to close at Rs 38.40.

Most of the BSE sectoral indices ended in the red . However, BSE Capital Goods index gained by 2.13 per cent and FMCG index by 0.96 per cent.

The Midcap stocks were gainers too with the BSE Midcap index going up by 0.86 per cent and BSE Smallcap index by 0.61 per cent.

Anil Ambani-owned Reliance Communications Venture Limited (RCVL), which was listed yesterday, closed with a gain of 5.15 per cent at Rs 306.50 before touching a high of Rs 317.5 as against last close of Rs 290.45.

Another Anil Ambani company Reliance Natural Resources Limited (RNRL) closed up by 20.06 per cent at Rs 21.55 as against the last close of Rs 17.95.

The National Stock Exchange (NSE) 50 share S&P CNX Nifty index closed 0.24 per cent lower at 3,182.90 points down by 7.50 points.

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