BSE Sensex ends below 14K as crude oil surges

Written by:
Subscribe to Oneindia News

Mumbai, Sep 22: The key benchmark Sensex was on Monday, Sep 22 quoted below the 14,000 mark, ending with a marginal loss of 47.36 points at 13,994.96 due to profit booking at higher levels coupled with concerns arising from higher crude oil prices.

The heavyweight stocks ended with a marginal loss after witnessing choppiness for major part of the day. Overall, it was a lacklustre session for the markets as benchmark indices were trading in a particular range and consolidating for the next upmove. Capital Goods, Power, auto and technology stocks witnessed selling pressure. However, FMCG, metal, few realty, pharma and banking stocks gained. Markets had started on a positive note in line with global markets but immediately after opening remained volatile throughout the day.

Many leading stocks were reeling under pressure though there was some volatility. Selling was seen in capital goods, power, technology, auto and few oil stocks. Sell off in European markets was also reflecting on the markets as well. However, buying continued in FMCG and metal stocks.

Markets were trading in a particular range and were not getting any direction. Selling was seen in capital goods, power, auto and technology stocks while buying continued in FMCG, metal and realty stocks.

Buying was seen in few metal, capital goods, power, FMCG and oil stocks while selling was seen in few auto, technology and banking stocks.

The Sensex was struggling to hold back above 14000 mark; it fell 14 points to 14,028, at mid session.

The Sensex touched an intraday high of 14,221.04 points and low of 13,917.48 points, before closing at 13,994.96, down 47.36 points or 0.34 per cent. The Nifty index of National stock Exchange (NSE) swung between 4303.25 and 4202.40. It finally fell 22.2 points or 0.52 pc, to settle low at 4223.05 from its last close of 4245.25.

Volumes too were low. total turnover traded in markets was at Rs 74,572.72 crore. This includes Rs 11,510.05 crore from NSE cash segment, Rs 58,188.02 crore from NSE F &O and the balance Rs 4,874.65 crore from BSE cash segment. The market breadth was negative on BSE with 1217 shares advancing as compared to 1376 that declined. 70 shares remained unchanged. BSE clocked a turnover of Rs 4871 crore compared with Rs 6,226.77 on Friday.

Asian stocks rose after the US government proposed a USD 700 billion plan to solve the world financial crisis by rescuing banks from billions of dollars in risky mortgage debt. Key benchmark indices in Hong Kong, Japan, China, South Korea, and Taiwan were up by between 0.31 pc to 7.77 pc. However, Singapore's Straits Times was down 0.58 pc. European markets, which opened after Indian market, recovered from an initial slide. Key indices in UK, France, and Germany were down 0.03 pc to 0.20 pc. which contributed to downward trend at the Indian bourses, brokers pointed out.


Please Wait while comments are loading...