Sensex sheds 170.33 points in volatile trade

Mumbai, Nov 12: The Bombay Stock Exchange (BSE) sensitive index today shed 170.33 points to close at 18,737.27 on selling pressure due to weak global cues.

After making a low start below 267 points at 18,640.52 against previous close of 18,907.60 during early trade, the benchmark Sensex came down to touch a low of 18,333.21 by shedding 482 points from a high of 18,815.11 during the day trade. The investors across the Asian markets were worried over the financial crisis in the US, brokers said.

However, after a volatile trading session, the market ended with a major recovery from the day's low. Among BSE sectorial indices, FMCG index surged. Reality, IT, Auto and Bankex were the losers with Infosys slumping and L&T staging an intra-day rebound. However, Select cement stocks rose.

European markets recovered after a weak start, brokers added.

Similarly, the National Stock Exchange index Nifty closed down by 46.15 points at 5617.10 against previous close of 5,663.25. Nifty opened marginally low at 5,660.60 and moved down to touch a low at 5,477.50.

According to data sources, the market breadth was negative. 19 out of 30 stocks in the Sensex pack ended in red. BSE clocked a turnover of Rs 6410 crore compared to previous turnover of Rs 6729 crore.

European and Asian markets witnessed mixed trend while US markets ended in red.

UNI