Sensex closes 82 pts lower as industrial output slows

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SME Times News Bureau | 10 Feb, 2012
A benchmark index for Indian equities markets Friday closed 82 points lower as traders booked profits after data showed industrial output grew at a slow 1.8 percent in December.

Foreign institutional investors, however, continued to pump in funds.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,817.59 points, closed at 17,748.69 points, 82.06 points or 0.46 percent down from its previous close at 17,830.75 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended lower at 5,381.6 points, down 30.75 points or 0.57 percent from its previous close.

Latest data showed industrial output in December rising at a snail's pace at 1.8 percent, underlining the slowdown in the economy and putting pressure on policymakers to stem the fall.

Broader markets also slipped, with the BSE 500 index ending 0.33 percent lower.

All but one of the 13 sectoral indices on the BSE closed in the red. Only metal stocks saw some gains.

Overseas funds continued with their buying spree. According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $294.27 million Friday.

FIIs have pumped in close to $4 billion in 2012, having bought equities worth $2.03 billion in January and $1.94 billion in eight trading days of February.

Prominent gainers on the 30-scrip Sensex included Tata Steel, up 5.3 percent at Rs.475; Bajaj Auto, up 2.1 percent at Rs.1,736.55; Wipro, up 0.8 percent at Rs.448.10; and TCS, up 0.29 percent at Rs.1,230.55.

Major losers included Hindalco, down 3.62 percent at Rs.153; Maruti Suzuki, down 1.99 percent at Rs.1,245.25; RIL, down 1.23 percent at Rs.842.15; and ICICI Bank, down 1.21 percent at Rs.928.20.

The market breadth was negative with 1,435 stocks advancing, 1,506 on the decline and 106 unchanged.

Asian markets were ruling dull as traders grew nervous after eurozone finance chiefs withheld a bailout package for Greece, increasing the chances of a debt default by the financially troubled country.

The Japanese Nikkei slipped 0.61 percent to close at 8,947.17 points, while Hong Kong's Hang Seng ended 1.08 percent lower at 20,783.86 points.

The Chinese Shanghai Composite index closed flat at 2,351.98 points.

European markets were edgy after eurozone chiefs withheld approval for a second Greek bailout and sought assurances from Greece's political leaders that they were ready to deliver on past and new pledges.

Britain's FTSE 100 was ruling 0.33 percent down at 5,876.17 points. The German DAX was trading 0.88 percent lower at 6,729.16 points.

The French CAC 40 was trading 0.63 percent down at 3,403.21 points.