Sensex settles with nominal losses

Mumbai, July 5: After regaining most of the lost ground during the day due to value buying in index pivotals, the Bombay Stock Exchange (BSE) Sensex today settled in the red with a modest loss of 18.35 points at 14,861.89.

Opening firmly higher at 14,932.53 from its previous close of 14,880.24, it moved between 14,963.26 to 14,731.22 during the session.

Among the broader markets, the National Stock Exchange (NSE) Nifty Index also tanked by around 6 points to settle on negative terrain at 4,353.95 from its previous close of 4,359.30 after opening very partially lower at 4,359.20 and reaching an intra-day high and low of 4,378.55 and 4,311.80, respectively.

''The market settled with nominal losses, after swinging sharply during the day. The market opened on a strong note tracking firm global equities, but immediately slipped sharply into the red after striking an all-time high. It later recovering on value buying. Auto shares were in demand today, while information technology (IT) pivotals were offloaded,'' market analysts observed.

The Sensex oscillated 242 points in the day in volatile trade.

The market breadth remained weak here as 1,656 shares declined as compared to 997 shares that advanced, while 71 remained unchanged.

Among the 30-scrip Sensex pack, 18 declined while the rest advanced, BSE data revealed.

The Rupee remained stable at 40.45/46 today against the US currency on the back of suspected intervention by the Reserve Bank.

Yesterday, it had closed at a fresh nine-year closing peak of 40.45/46 a US dollar, dealers said.

Foreign institutional investors (FIIs) were net buyers of approximately Rs 723.85-crore equities yesterday, while domestic institutional investors (DIIs) were net sellers of nearly Rs 397.14- crore equities, traders revealed.

Today winners included realty major DLF, ICICI Bank, Larsen and Toubro (L&T), Maruti Udyog, Tata Motors, Hero Honda Motors.

The prominent laggards were Reliance Industries (RIL), Reliance Energy, Ranbaxy, HDFC, Hindlaco, Infosys Technologies, TCS, Satyam Computers, Wipro and NTPC.

India's biggest realty giant, DLF settled at Rs 570.05, a premium of 8.57 per cent over the initial public offering (IPO) price of Rs 525 per share. The scrip debuted at Rs 582, and had touched a high of Rs 714.25 and a low of Rs 505.60 during the day. The counter saw high volumes of 3.42 crore shares on the premier BSE.

The DLF IPO was subscribed 3.47 times. The IPO received total bids for 60.70 crore shares compared to issue size of 17.50 crore shares. Post-issue promoter holding in the company is 88.24 per cent. The post-issue FII holding was 5.92 per cent.

Most of the Asian indices were trading higher today. Japan's Nikkei 225 index advanced as shares of exporters such as Sony Corp and machinery makers like Komatsu extended gains, while stocks in South Korea and Taiwan extended their record run from yesterday.

Nikkei gained 0.29 per cent at 18,221.48.

Hang Seng rose by 0.16 per cent at 22,252.99, South Korea's Seoul Composite was up 0.51 per cent at 1,847.79 and Taiwan's Taiwan Weighted jumped by 0.88 per cent at 9,148.78.

However, China's Shanghai Composite plunged 5.25 per cent to 3,615.87.

All the European indices which had opened higher, slipped in the red later.

US markets remained closed yesterday on account of Independence Day holiday.

UNI

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