Market slips, Sensex down

New Delhi: The markets ended lower following global weakness and partial profit booking on frontlne stocks.

Selling was seen in technology, auto, consumer durables, metal, banking, pharma and oil stocks. However, FMCG and capital goods stocks gained.

The markets ended lower following global weakness and partial profit booking on frontlne stocks. The Sensex closed down 56.06 points or 0.59 per cent at 9464.90. It touched an intraday high of 9503.40 and an intraday low of 9432.93.

The Nifty closed down 16.90 points or 0.58 per cent at 2884.05. It touched an intraday high of 2897.10 and an intraday low of 2872.05.

The CNX Midcap Index closed down 3.10 points at 4220.70. It touched an intraday high of 4238.15 and an intraday low of 4204.35.

The market breadth was slightly positive, about 1302 shares have advanced, 1152 shares declined, and 70 shares are unchanged.

Jet Airways, HDFC, HCL Tech, Gail, Satyam, Tata Motors, Infosys and ICICI bank were the biggest index losers.

ITC, Zee, ABB, Shipping Corp, BHEL and HLL were the biggest index gainers.

The total market turnover today was at Rs 37,756.21 crore. The BSE cash turnover was at Rs 3,431.04 crore. The NSE cash turnover was at Rs 6,205 crore. The NSE F&O turnover was at Rs 28,120.17 crore.

Technical analysts say that one should use this dip to buy into the market.

The BSE IT Index underperformed the other indices. It closed down 1.87 per cent at 3589.33 amid losses in HCL Tech, Infosys, Satyam, Hexaware Tech, MphasiS BFL, TCS and i-flex Solutions.

Auto stocks including Amtek Auto, Tata Motors, Bharat Forge, Bajaj Auto, Cummins, MICO, Hero Honda and MRF also lost ground. The BSE Auto Index closed down 0.91 per cent at 4327.12.

The BSE Consumer Durables Index closed down 1.51 per cent at 3135.89 due to selling in Titan Industries, Samtel Color, BPL and Whirlpool.

Metal stocks like Gujarat NRE Coke, JSW Steel, Tata Steel Sail, Sterlite Industries, Sesa Goa, and Welspun Gujarat also ended in the red. The BSE Metal Index closed down 0.81 per cent at 6629.95.

Banking stocks like IOB, ICICI Bank, Allahabad Bank, Kotak Mahindra Bank, HDFC Bank and SBI also ended lower. The BSE Bankex closed down 0.68 per cent at 5091.11.

Selling was also seen in oil stocks like Gail, IOC, HPCL, MRPL, BPCL, Petronet LNG and Chennai Petro. The BSE Oil & Gas Index closed down 0.52 per cent at 4529.45.

Pharma stocks like Nicholas Piramal, Novartis India, Glenmark, Lupin, Biocon, Ranbaxy Labs and Pfizer also finished lower. The BSE Healthcare Index closed down 0.44 per cent at 3184.82.

However, the BSE FMCG Index outperformed the other indices. It closed up 1.90 per cent at1693.45 amid gians in ITC, Nirma, HLL, Nestle and P&G.

Capital goods stocks like Siemens, Alstom Projects, Gammon India, BEML, ABB, Praj industries and BHEL also flared up. The BSE Capital Goods Index closed up 1.01 per cent at 6329.07.