Mumbai, Nov 19: The BSE sensitive index today closed in the red at 19,633.36 points with a loss of 65 points from its last close of 19,698.36 on profit booking at higher levels by FIIs and some local financial institution investors.
Brokers said the market lost ground in late trade as index heavyweight Reliance Industries dropped and ITC slipped.
The market was in the green for a better part of the day though it had pared gains after an initial surge. Banking majors plunged, while IT pivotals pared gains. Consumer durables, auto, and realty moved higher. The BSE Mid-Cap and Small-Cap indices outperformed Sensex and the market breadth was strong.
Two out of the three key European markets were in the red, while the Key Asian markets too ended in the red.
The BSE 30-scrip sensitive index resumed high at 19,895.49 points. Reaching the day's high of 19,971.44, the Sensex had gained 273.08 points, but hit a low of 19,583.97 in late trade.
At the day's low, Sensex lost 114.39 points during the day.
The broader CNX S&P Nifty index of National Stock Exchange (NSE) ended up modestly by 0.80 points or 0.01 per cent at 5,907.65 before it resumed high at 5908.05. The Nifty index recorded a high at 5981.80 points and a low at 5893.80 points in intra day trade.
The BSE clocked a turnover of Rs 8081 crore compared to last Friday's Rs 8,885.97 crore.
The BSE Mid-Cap index rose by 2.59 per cent to 8,733.01 and the BSE Small-Cap index hiked by 2.82 per cent to 10,673.88. Both these indices outperformed Sensex.
Volatility forced investors across the world to pull out five billion dollars from emerging market equity funds in the second week of November, including over two billion dollars from funds focused on four BRIC markets -- Brazil, Russia, India and China.
China accounted for more than half of the total outflow from BRIC funds, while India, Russia and Brazil together shared the remainder, according to international fund tracking firm EPFR Global.
During the second week of November this year, emerging market equity funds reported a net outflow of USD 5.58 billion, while those focused on developed markets saw an outflow of USD 5.07 billion.
According to EPFR, the money market funds recorded a net inflow of USD 10.1 billion in the week, taking their total inflow since the beginning of August 2007 to USD 100 billion.
As per provisional data, FIIs sold shares worth a net Rs 363.14 crore, while domestic institutional investors (DIIs) were net buyers of shares worth Rs 239.72 crore on November 16.
Most of the European markets were in red. France's CAC 40 was up by 0.17 per cent to 5,540.99, Germany's DAX was down by 0.04 per cent to Rs 7,609.32. UK's FTSE 100 was down by 0.32 per cent to 6,271.
Key Asian markets were in red. Hong Kong's Hang Seng was down by 0.56 per cent at 27,460.17, followed by Japan's Nikkei by 0.74 per cent at 15,042.76, Singapore's Straits Times by 0.85 per cent at 3,411.72, South Korea's Seoul Composite by 1.7 per cent to 1,893.47 and Taiwan Weighted by 0.96 per cent at 8,680.71, affecting the Indian markets, according to brokers.
Banking majors declined. HDFC Bank was down by 1.91 per cent to Rs 1,655, followed by ICICI Bank down by 2.42 per cent to Rs 1,190 and State Bank of India down by 0.93 per cent to Rs 2,304. Index heavyweight and India's largest private sector firm by market capitalisation Reliance Industries declined by 1.2 per cent to Rs 2,841.15. ITC was down by 3.49 per cent to Rs 198.20.
IT stocks declined. Satyam Computer Services was down by 1.52 per cent to Rs 422.05, followed by Infosys down by 0.15 per cent to Rs 1,621, and Wipro was down by 0.07 per cent to Rs 458.
Federal Bank was down by 22.44 per cent to Rs 368, followed by Alufluoride down by 9.87 per cent to Rs 31.95 and Manali Petrochemicals down by 10 per cent to Rs 21.21.
Consumer durables stocks surged and BSE Consumer Durable index was the major gainer from BSE's sectoral indices. Videocon Industries was up by 9.41 per cent to Rs 439.95, and Rajesh Exports rose by 0.03 per cent to Rs 855.25. Tata Consultancy Services gained by 0.49 per cent to Rs 987.
Gitanjali Gems hiked by 1.79 per cent to Rs 382 after it acquired US jewellery retail chain Rogers for sum of Rs 80 crore, a move that will boost the company' s retail presence in India and abroad.
Larsen&Toubro (L&T) rose by 0.06 per cent to Rs 4,378.50.
The company announced during market hours today in association with Shanghai Urban Construction (Group) Corporation, it has secured a design&build contract valued at Rs 275 crore from Delhi Metro Railway Corporation (DMRC).
Auto stocks were in demand. Tata Motors was up by 0.55 per cent to Rs 702, followed by Mahindra&Mahindra by 1.92 per cent to Rs 747, Hero Honda Motors by 2.53 per cent to Rs 712, and Maruti Suzuki India by 0.39 per cent to Rs 1,053.50, Bajaj Auto by 3.39 per cent to Rs 2,428.
UBS raised its 12-month price target on the stock to Rs 3,033 from Rs 2,440, saying the company was on a recovery path with its two-wheeler business improving and competition seen easing.
Tata Steel hardened by 2.23 per cent to Rs 862, Cipla also rose by 3.18 per cent to Rs 186.40 and ACC was up by 3.88 per cent to Rs 1,080.
Realty stocks gained. India's largest real estate firm by market capitalisation DLF rose by 0.91 per cent to Rs 945.10. It replaced Dr. Reddy's Laboratories in Sensex today. Indiabulls Real Estate rose by 3.15 per cent to Rs 657.90.
Unitech gained by 2.12 per cent to Rs 398. As per reports Unitech plans a non-banking financial corporation (NBFC) to sell home loans.
Nirma gained by 24.71 per cent to Rs 206.90 and was the top gainer from A group. Essel Propack was up by 17.31 per cent to Rs 62 followed by Vijaya Bank by 13.5 per cent to Rs 83.65, Jaiprakash Associate by 13.25 per cent to Rs 1,722 and Apollo Tyres by 15.26 per cent to Rs 42.30 were other major gainers from A group.
Maestros Mediline Systems was up by 20 per cent to Rs 42.30 and Tokyo Plast International gained by 20 per cent to Rs 13.32.