 Online edition of India's National Newspaper Friday, Jun 03, 2011 ePaper | Mobile/PDA Version |
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MUMBAI: In line with weak global markets, the Bombay Stock Exchange sensitive index, Sensex, fell by 114.63 points and closed at 18494.18 on Thursday against 18608.81 on Wednesday as investors booked profits after two-day gains with banking, realty and auto stocks suffering the most. Asian markets closed bearish after weak economic data from the U.S. and decline in Wall Street stocks. European markets also displayed feeble trend amid debt crisis in some European Union nations. There was selling in heavyweights such as ICICI Bank, Tata Motors, HDFC Bank, HDFC, M&M, TCS, Sterlite, Tata Steel, Infosys and Reliance Infra. However, smart rise in Reliance Industries, HUL, ITC and Bajaj Auto cushioned the fall. Besides, there was some relief from food inflation, which fell to 8.06 per cent for the week ended May 21 from 8.55 per cent in the previous week. The broad-based NSE 50, Nifty, also fell by 41.65 points to 5550.35 from 5592. “A global sell-off in equities spooked Indian markets. U.S. jobs report and debt crisis in the euro zone will be important near-term catalysts for risky asset classes,” said Amar Ambani, Head of Research at IIFL. Key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan closed lower between 0.39 per cent and 1.69 per cent. In Europe, CAC was down 1.16 per cent, DAX by 1.14 per cent and FTSE by 0.93 per cent. Rupee gains further Marking the sixth straight session of rally, the rupee recovered its early losses and closed up by two paise at 44.82/83 on Thursday against the dollar. Dealers said that late dollar selling by exporters and some banks on the back of a weak dollar abroad strengthened the rupee sentiment. The rupee resumed lower at 44.97/98 a dollar against Wednesday's close of 44.84/85 due to a fall in domestic stocks and touched a low of 45 before closing at 44.82/83. — PTI
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