Sensex ends 100pts lower; telecom, cap goods, RIL, ONGC dip
20 Oct 2009
The Sensex closed the session on a negative note on the back of profit booking in oil & gas exploration, telecom, capital goods, private banking, pharma and cement companies' shares. It witnessed buying interest in the first half of the trade while second half remained weak.
However, buying in metal, realty and select technology stocks capped the losses to some extent. Sugar and banking stocks bucked the trend in the midcap space.
Global cues were mixed. Asian markets ended higher. Shanghai rose 1.5%. Nikkei, Hang Seng and Kospi were up 0.6-1%. Straits Times and Taiwan Weighted were flat in trade. However, Jakarta fell 0.7%. European markets were marginally in the red while US index futures were in the green, at the time of writing this article.
The 30-share BSE Sensex closed at 17,223.01, down 103 points or 0.59%, after seeing an intraday range of 17,185.04-17,457.26. The 50-share NSE Nifty fell 0.53% or 27.35 points, to settle at 5,114.45; it touched an intraday high of 5181.95 and low of 5102.65.
Sudarshan Sukhani of Technical Trends said it was a sign of a cool off. "There is a term for it, Tired Bull Liquidation." He would expect this kind of choppiness to continue.
In earnings, Apollo Tyres posted 1209% jump in Q2 net profit of Rs 102.1 crore and its net sales increased 24.42% to Rs 1,220.3 crore, YoY. The stock shot up 5%.
