Sensex, Nifty close in red on poor GDP numbers
Mumbai, May 31 (IANS) A benchmark index for Indian equities markets Thursday extended the previous session's losses and closed 93 points lower on disappointing economic growth numbers.
Amid volatile trade, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,224.86 points, closed at 16,218.53 points -- down 0.57 percent or 93.62 points from its previous close of 16,312.15 points.
At one point, the Sensex was down over 200 points at 16,086 points after offcial data showed that the gross domestic product (GDP) had slumped to 5.3 percent in the January-March quarter, the slowest in nine years, due to poor performance of manufacturing and farm sectors.
The Sensex touched a high of 16,277.48 points intra-day. The midcap index of the BSE rose 21.03 points, while smallcap index closed 36.15 points down.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.54 percent lower at 4,924.25 points.
The automobile index was down 1.96 percent followed by banking index, down 0.87 percent, and consumer durable index, down 0.81 percent.
Tata Motors was the top loser at the Sensex. It was down 4.17 percent at Rs.233.20.
Other main losers were ICICI, down 4 percent at Rs.784.30; Maruti Suzuki, down 3.86 percent at Rs.1,106.45; Jindal Steel, down 2.57 percent at Rs.441.45; Sun Pharma, down 2.37 percent at Rs.567.50; and SBI, down 2 percent at Rs.2,055.60.
The major Sensex gainers were Hindalco Inds, up 2.06 percent at Rs.116.70; NTPC, up 1.28 percent at Rs.146.90; Hindustan Unilever, up 1.26 percent at Rs.426.70; Cipla, up 1.08 percent at Rs.309.65; and HDFC Bank, up 1.06 percent at Rs.505.95.
The overall market sentiment was negative. Of the total 2,706 stocks traded on the BSE, 1,198 advanced, 1,407 declined while 101 remained unchanged.
The markets had opened in the red tracking Asian stocks that had fallen over fresh worries in Spain and Italy.
The stocks regained momentum following a positive opening on European bourses, but failed to sustain it towards the closing bell.
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