Sensex edges lower for the second day in choppy trade

A benchmark index for Indian markets Thursday closed 88 points lower amid choppy trade that saw the index fluctuating wildly. Realty, metals, auto and capital goods stocks were the biggest losers.

This was the second straight weak closing after Wednesday’s fall in which the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) dipped 283 points on profit booking after weeks of rallying.

The Sensex, which opened at 18,127.35 points, closed at 18,078.5 points, 66.75 points or 0.37 percent down from its previous close at 18,145.25 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended lower at 5,483.3 points, down 22.05 points or 0.4 percent from its previous close.

Broader markets also closed in the red, with the BSE 500 index slipping 0.39 percent lower. The BSE midcap index was down 0.55 percent while the BSE smallcap index shed 0.91 percent.

As per the sectoral indices on the BSE, realty, metals, auto and capital goods stocks were among the biggest losers, while FMCG and power scrips rose.

The market breadth was negative with 1,092 stocks advancing, 1,786 declining and 108 unchanged.

Prominent gainers on the 30-scrip Sensex included HUL, up 2.22 percent at Rs.386.80; BHEL, up 1.74 percent at Rs.311.95; RIL, up 0.59 percent at Rs.838.10 and TCS, up 0.59 percent at Rs.1,259.25.

Major losers included Sterlite Industries, down 4.09 percent at Rs.115; Bharti Airtel, down 2.59 percent at Rs.338.35; Maruti Suzuki, down 2.09 percent at Rs.1,279.15 and ICICI Bank, down 1.39 percent at Rs.943.80.

Overseas funds, which have been the main catalyst for the dramatic rise in Indian equities in 2012, continued with their buying spree.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors (FIIs) bought equities worth $196.35 million Thursday.

FIIs have put in $5.47 billion since the start of the year, having bought equities worth $2.03 billion in January and $3.43 billion till Feb 23.

Asian markets closed mixed as investors were worried over rising oil prices and the financial crisis in Europe leading to a decline in the zone’s growth and that of the global economy.

The Japanese Nikkei moved up 0.44 percent to close at 9,595.57 points, while Hong Kong’s Hang Seng fell 0.78 percent at 21,380.99 points.

The Chinese Shanghai Composite index nudged 0.25 percent up to end at 2,409.55 points.

European markets too were trading quiet.

Britain’s FTSE 100 was up 0.16 percent at 5,926.05 points. The German DAX was trading 0.42 percent lower at 6,815.15 points.

The French CAC 40 was trading 0.18 percent up at 3,441.31 points.