Sensex closes the week with loss of 31.88 points

Mumbai, June 22: After rallying consecutively in the previous three trading sessions, the barometer Sensex today closed the week with a marginal loss of 31.88 points on the Bombay Stock Exchange (BSE) at 14,467.36, tracking global markets that played spoilsport.

After opening slightly higher at 14,508.63 from its previous close of 14,499.24, it moved between 14,560.32 and 14,441.76 during the session.

The broader National Stock Exchange (NSE) Nifty Index also tanked by 15.35 points to settle in the red at 4,252.05 from its previous close of 4,267.40, after opening higher at 4,267.55 and reaching an intra-day high of 4,278.85 and a low of 4,242.50.

Market anlaysts explained that the market breadth at the premier BSE was almost even as 1,306 shares advanced while 1,301 declined and 101 remained unchanged. The turnover surged sharply in the last hour of trade to reach Rs 5,302 crore. Among the 30-scrip Sensex pack, 20 declined while the rest advanced.

''The turnover has crossed the Rs 5,000 crore mark for the third straight day,'' experts pointed out.

Meanwhile, India's wholesale price index (inflation) receded further by 4.28 per cent in the week ended June 9, lower than the previous week's record of 4.80 per cent, once again due to a decline in food prices, government data today showed.

The Rupee held steady against the US dollar at 40.71/72 in late morning deals today, dealers said.

Foreign institutional investors (FIIs) were net buyers of shares worth approximately Rs 144.49 crore, while domestic institutional investors (DIIs) bought shares worth nearly Rs 147.71 crore yesterday, traders revealed.

The winners include Reliance Energy (REL), NTPC, Hindalco Industries, ICICI Bank, State Bank of India (SBI) and Hindustan Unilever.

The laggards were Gujarat Ambuja Cement, ACC, Grasim, Reliance Industries (RIL), Satyam Computers, TCS, Infosys and Wipro.

Japanese shares were trading weaker today, with banking stocks such as Mitsubishi UFJ Financial Group and automaker Toyota Motor Corp leading declines. But chipmaker Advantest Corp rose sharply as the yen weakened further against the US dollar. The Nikkei was down 0.28 per cent at 18,188.63.

Most of the Asian markets were trading lower. Hong Kong's Hang Seng rose by 0.21 per cent at 21,999.91, South Korea's Seoul Composite tanked by 1.30 per cent at 1,770.98, Singapore's Straits Times slipped by 0.66 per cent at 3,615.38 and Taiwan's Taiwan Weighted was down by 0.06 per cent at 8,846.39. China's Shanghai Composite slumped by 3.29 per cent to 4,091.45.

Besides, all the European markets were trading weak.

US stocks edged higher yesterday as investors apparently set aside some interest rate concerns and took a dose of upbeat economic data at face value.

The Dow Jones Industrial Average rose 56.42 points, or 0.42 per cent, to 13,545.84. Broader stock indicators also rose. The Standard&Poor's 500 index was up by 9.35 points, or 0.62 per cent, to 1,522.19, and the Nasdaq Composite index advanced by 17 points, or 0.65 per cent, to 2,616.96.

Oil prices edged higher in Asian trade today, as players assessed whether a strike in key African crude oil producer Nigeria would affect supplies. New York's main oil futures contract, light sweet crude for delivery in August, was up six cents at USD 68.71 per barrel from USD 68.65 in late US trades, dealers added.

UNI