Sensex loses 60 points; banks fall (Roundup)

Last Updated: Tue, Oct 15, 2013 12:10 hrs

Mumbai, Oct 15 (IANS) A benchmark index of Indian equities markets Tuesday closed 60 points or 0.29 percent lower on negative domestic and global cues.

The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 20,722.90 points, closed at 20,547.62 points, down 59.92 points or 0.29 percent from the previous day's close at 20,607.54 points.

The Sensex touched a high of 20,759.58 points and a low of 20,446.73 points intra-day.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed at 6,089.05 points, down 23.65 points or 0.39 percent.

The markets were subdued a day after inflation figures showed an increase of 6.46 percent in prices in September, the sharpest in seven months. It is believed this rise in inflation level will make it difficult for the Reserve Bank of India (RBI) to cut rates.

The RBI is scheduled to meet and announce its monetary policy Oct 29.

On the international front, worries prevailed over the US debt ceiling crisis.

Sector-wise, good buying was seen in metal, information technology (IT), technology, media and entertainment (TECk) and fast moving consumer goods (FMCG) sectors.

However, selling pressure was observed in bank, consumer durables, capital goods, automobile and public sector undertakings (PSUs) stocks.

The S&P BSE metal index gained 78.50 points, while IT index was up 52.90 points and TECk index was higher by 28.63 points. FMCG index ended 11.59 points up.

However, the bank index lost 314.61 points, followed by automobile index, down 71.94 points, consumer durables index, was lower by 70.35 points, capital goods index, fell by 63.16 points and PSU index, was 52.67 points down.

The main gainers in the 30 scrips on the sensitive index were Tata Steel, up 2.82 percent at Rs.310.45; Bharti Airtel, up 1.92 percent at Rs.339.05; Wipro, up 1.90 percent at Rs.510.40; Hindalco Inds, up 1.45 percent at Rs.112.20; and Hindustan Unilever, up 0.83 percent at Rs.603.

The main losers were: Hero MotoCorp, down 2.44 percent at Rs.2,048.75; HDFC Bank, down 2.37 percent at Rs.651.40; State Bank of India (SBI), down 2.09 percent at Rs.1,621.55; Tata Power, down 2.04 percent at Rs.79.33; and ICICI Bank, down 1.98 percent at Rs.975.45.

Among the Asian markets, Japan's Nikkei closed 0.26 percent up, while Hong Kong's Hang Seng ended the day's trade 0.51 percent higher. China's Shanghai Composite Index was down 0.19 percent.

In Europe, London's FTSE 100 was trading 0.89 percent up, while Germany's DAX Index was higher by 0.82 percent. The French CAC 40 Index was up 0.63 percent.

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