Sensex closes flat on poor IIP numbers
Mumbai : A benchmark index for Indian equities markets closed flat Monday on disappointing industrial production data.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,691.02 points, closed at 18,670.34 points, down 0.07 percent or 13.34 points from its previous close at 18,683.68 points.
The Sensex touched a high of 18,750.92 points and a low of 18,607.66 points during intra-day.
India’s industrial output contracted 0.4 percent in September, dragged down by deceleration in production in manufacturing, capital and consumer durables sectors.
Eight core industries that have a combined weight of 37.90 percent in the IIP logged a negative 0.4 percent growth year-on-year in September. In the corresponding month of 2011, these industries had registered a growth of 2.5 percent.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was trading 0.04 percent or 2.55 points lower at 5,683.70 points.
Capital goods, metals, automobile stocks, oil and gas stocks came under heavy selling pressure.
The BSE capital goods index was down 72.38 points, followed by the metals index, down 71.25 points, auto index, down 36.04 points, oil and gas index, down 29.19 points.
However, the bank index rose, up 124.05 points, consumer durable index, up 83.14 points and information technology (IT), was up 30.18 points.
The Sensex gainers were HDFC Bank, up 1.85 percent at Rs.651.15; Bharti Airtel, up 1.63 percent at Rs.279.80; State Bank of India (SBI), up 1.59 percent at Rs.2,190.65; Tata Consultancy Service (TCS), up 0.66 percent at Rs.1,334.25; and Infosys, up 0.48 percent at Rs.2,360.40.
The losers were Tata Steel, 1.72 percent down at Rs.383.85; Hero MotoCorp, down 1.67 percent at Rs.1,875.75; ITC, down 1.56 percent at Rs.284.00; Tata Power, down 1.43 percent at Rs.99.75; and Jindal Steel, down 0.95 percent at Rs.378.80.
Among other Asian markets, Japan’s Nikkei was down by 0.93 percent, while Hong Kong’s Hang Seng ended trade 0.21 percent higher. Shanghai’s Composite Index was up 0.49 percent.
At closing bell here, London’s FTSE 100 was up 0.20 percent. And so was Germany’s DAX, up 0.22 percent. However, France’s CAC 40 was down 0.13 percent.
