Sensex wilts 88 pts on global cues

Mumbai, Oct 3: The Bombay Stock Exchange sensitive index (Sensex) after staying range bound for majority of the trading session, slipped 88 points in the last half an hour of trade, to close on 12,366.39 on global cues.

However, the midcap and smallcap indices saw greater activity with investors buying select stocks, assisting the indices to close up, by 0.25 and 0.54 per cent, respectively.

The breadth in the broader market though turned positve in favour of 1,413 advances as against 1,052 declines out of total 2,534 scrips that traded the BSE counters today.

Earlier the Sensex opened 19 points in the green and touched an intra-day high of 12,489.28 and a low of 12,343.80 showing a swing of 145.48 points.

Meanwhile, the Nymex crude declined further to touch US Dollar 60.33 per barrel mark and helped the Auto and Metals sector to trade high with a gain of 0.36 and 0.65 per cent, respectively, gold and silver declined today largely on account of low crude prices.

Credit Suisse, a rating agency has reported that crude oil may come down to US Dollar 55 a barrel mark soon.

According to Goladman and Sachs, Indian economic fundamentals are very strong and long term FII and FDI inflow is expected in the Indian market. Also the US Federal reserve is planning to slash its interest rates by Feberuary, as crude oil prices are declining.

This development may help Global rates to come down, and indirectly affect the oil and refinery, as well as Auto and Metal prices too.

The benchmark Asian indices all closed in the red. Chinese and Korean markets were closed on account of holiday today. Also major European markets were down as the US trade data showed slowing down US economy. Goladman and Sachs has predicted that India will be the third largest economy at this rate forty years from now, after China and US, respectively.

Amongst major sectoral indices on BSE, Bankex was down by 0.40 per cent, Capital Goods was down by 0.81 per cent, FMCG was down by 0.79 per cent, HC was down by 1.10, IT by 0.77 per cent and Oil and Gas by 0.68 per cent.

The pack of gainers on BSE-30 index was led by NTPC up by 2.30 per cent to Rs 133.20, Bajaj Auto up by 11.10 per cent to Rs 3,031.30, Tata Motors up by 0.88 per cent to Rs 869.65, Reliance Energy up by 0.65 per cent to Rs 486.70, SBI up by 0.48 per cent to Rs 1,003.25, Sayam computers up by 0.43 per cent to Rs 822.10, Hindlaco up by 0.38 per cent to Rs 172.00, Reliance Communicatons up by 0.17 per cent to Rs 347.35, ITC up by 0.16 per cent to Rs 187.95 and Gujarat Ambuja up by 0.13 per cent to Rs 117.00.

Major losers on the index were - HDFC down by 3.72 per cent to Rs 1,477.30, HLL down by 2.65 per cent to Rs 249.40, Ranbaxy down by 2.59 per cent to Rs 428.45, Cipla down by 2.52 per cent to Rs 255.65, Infosys down by 1.64 per cent to Rs 1,817.65, L&T down by 1.63 per cent to Rs 1,252.30, Maruti Udyog down by 1.35 per cent to Rs 968.00, HDFC Bank down by 1.16 per cent to Rs 915.30, Wipro down by 1.03 per cent to Rs 519.70 and BHEL down by 0.98 per cent to Rs 2,369.30.

UNI

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