Markets close in red ahead of UP poll results

Mumbai, May 10: The Sensex today settled in the red on the Bombay Stock Exchange with a modest loss of 10.28 points at 13,771.23, as investors chose to book profits ahead of the Uttar Pradesh poll results tomorrow.

The outcome of the crucial polls will determine the future fiscal policies of the Government, market analysts said.

The BSE Sensitive Index had opened firmer at 13,823.36 and moved to a high of 13,976.79 and a low of 13,745.23 during intra-day trade.

Among the broader markets, the Nifty Index also tanked by 12.50 points on the National Stock Exchange (NSE) and settled in negative terrain at 4,066.80 from its previous close of 4,079.30 points.

After opening at 4,079.30, it had reached a high of 4,134.20 and a low of 4,057.55 points during intra-day.

As profit taking wiped away the gains posted by a host of large, medium and smallcap stocks, the market breadth, which remained strong till mid afternoon, weakened towards the end. Out of 2,634 stocks traded on BSE today, 1,328 stocks closed in the red. 1,238 stocks ended on a positive note and 68 stocks settled at their previous closing levels.

At the premier BSE, Satyam Computers, Hero Honda, Wipro and Reliance Communications finished with modest gains. Grasim Industries, State Bank of India, Cipla and Gujarat Ambuja Cements ended with small gains.

ONGC was down 2.2 per cent, NTPC was down 2.1 per cent, Ranbaxy Laboratories was down by 1.8 per cent, Tata Motors slipped by 1.2 per cent, Larsen&Toubro was down 1.15 per cent, Maruti Udyog was down 1 per cent and Reliance Industries was down 0.95 per cent.

Reliance Energy, ICICI Bank, Bharti Airtel, Tata Consultancy Services, Hindustan Lever, BHEL and Infosys Technologies also finished on a weak note. Dr Reddy's Laboratories and ACC closed with small losses.

Siemens, Zee Entertainment, Tata Power, Mahindra&Mahindra, IPCL, Sun Pharmaceuticals, GAIL India, Dabur India, Punjab National Bank and HCL Technologies closed with sharp to moderate losses.

Sterlite Industries, GlaxoSmithKline Pharma, BPCL, Reliance Petroleum, SAIL, VSNL, Suzlon Energy and Hindustan Petroleum Corporation closed on a positive note.

Power Finance Corporation, Rolta India, BASF India, Britannia Industries, Moser Baer, D-Link India, Allahabad Bank, Andhra Bank, Nicholas Piramal, Dena Bank, Union Bank of India, Birla Corporation, Castrol India, Apollo Tyres, Fertilizers&Chemicals, Indo Rama Synthetics, Sterlite Optical Technologies, Tata Chemicals and Alstom Projects ended with handsome gains today.

Crompton Greaves, Abbott India, Indian Bank, Jindal Stainless, Century Textiles, Jaiprakash Associates, Shipping Corporation of India, Ispat Industries, Dredging Corporation, Thermax, Indian Oil Corporation, Hinduja TMT, MphasiS BFL, Corporation Bank and TVS Motor ended with sharp losses.

UNI