Diwali fails to light up stock markets, Sensex sheds 52 pts
PRESS TRUST OF INDIA
Mumbai, Nov 13: The first trading session of Samvat 2069 concluded on a weak note as Sensex today closed nearly 52 points lower at over one-week low of 18,618.87, the first time since 2007 the BSE benchmark logged losses in Muhurat trades, after investors booked profits amid tepid global cues.
The Bombay Stock Exchange 30-share barometer Sensex logged a high of 18,732.71 a few minutes after the onset of business today but profit-booking pulled it down to settle at 1-1/2-week low of 18,618.87 -- a fall of 51.47 points or 0.28 per cent.
Insipid global stock market sentiment and recent weak economic data continued to weigh on the market for the second straight day after Sensex dipped by 13.34 points yesterday.
Though there was no usual trading today, a special Muhurat trading was conducted on stock exchanges from 15.45 hrs to 17.00 hrs.
IT, realty and banking counters attracted profit-booking while some of the refinery and FMCG stocks were in demand.
The broader 50-issue S&P CNX Nifty of the NSE also eased further by 16.75 points, or 0.29 per cent, to end at 5,666.95.
With movements in front-line stocks limited to a few counters, second line stocks attracted good buying support from retail investors on this auspicious day which marks the beginning of the new trading year for the Gujarati community, who form the bulk of share brokers in India.
In Samvat 2068, Sensex had risen by around 8.2 per cent.
"I am personally optimistic about the coming year. I think market will give better returns this year compared to last year. Market may touch all time high provided we see RBI going for the rate cuts and the government continues its action on the policy front," said Motilal Oswal, CMD, Motilal Oswal Financial Services.
The Sensex had dipped by over 150 points in Muhurat trading in 2007.
Lastupdate on : Tue, 13 Nov 2012 21:30:00 Makkah time
Lastupdate on : Tue, 13 Nov 2012 18:30:00 GMT
Lastupdate on : Wed, 14 Nov 2012 00:00:00 IST
- MORE FROM BUSINESS
- Tata Docomo decision to wind up jolts employees, subscribers
- Diwali fails to light up stock markets, Sensex sheds 52 pts
- Kingfisher leaves employees in dark on Diwali
- Airtel ranked No 1 service brand
- CCIK ticks off JK Bank for raiding hoteliers' house
- ‘Tata Nano delights customers with another breakthrough’
- Seed Multiplication Farm Shopian Inspected
- Diesel price hike nudges up Oct retail inflation
- Aryans extends admission date
Srinagar, Nov 13: The recent selection of administrators for hospitals in Jammu and Kashmir has drawn flak in the wake of “flawed recruitment rules” of the Health and Medical Education Department.   More
- Srinagar City
Muftis creating urban-rural divide among people: Tanvir Sadiq
GK NEWS NETWORK
Srinagar, Nov 13: Ruling National Conference Tuesday accused the Peoples Democratic Party of creating rural-urban divide in Kashmir adding that the PDP’s recent statement against NC was “bunch of lies More
- South Asia
REZAUL H LASKAR
Islamabad, Nov 13: Poverty is a cross-border phenomenon and India could learn from the experiences of the Benazir Income Support Programme, the Pakistan government's flagship poverty alleviation scheme More
LALIT K JHA\PTI
Washington, Nov 13: America's top commander in Afghanistan is being probed for his alleged "inappropriate communication" with a woman linked to former CIA director David Petraeus, who resigned abruptly More