Mumbai, March 10
A day after it fell more than
600 points, a benchmark index of Indian equities markets, the 30-scrip
BSE Sensitive Index (Sensex), closed Tuesday's trade down 135 points or
0.47 percent.
The wider 50-scrip Nifty of the National Stock
Exchange (NSE) also closed the day's trade in red. It was down 44.70
points or 0.51 percent at 8,712.05 points.
The S&P Bombay
Stock Exchange (BSE) Sensex, which opened at 28,924.06 points, closed
the day's trade at 28,709.87 points, down 134.91 points or 0.47 percent
from the previous day's close at 28,844.78 points.
The Sensex had touched a high of 28,949.11 points and a low of 28,584.49 points in the intra-day trade.
According
to analysts, the markets came under pressure on the back of a strong US
dollar. The major reason for the rise in the US dollar was the fear of
an imminent rate hike by US Fed.
"Profit booking continues as
investor across the world are concerned about US rate hike. The world
believes that US rate hike will start post the June 15. The Fed meeting
will be held on March 17 and 18," said Vinod Nair, head-fundamental
research, Geojit BNP Paribas Financial Services.
"Having said
that, the inflation numbers in the US are not encouraging, hence the Fed
will consider postponing an immediate decision. Hence till the time
this meeting is concluded, India can be in consolidation," he added.
Healthy
buying was observed in consumer durables, automobile, metal and
technology, entertainment and media (TECK) sectors. However, banks, oil
and gas, capital goods, healthcare, fast moving consumer goods (FMCG)
and realty stocks came under selling pressure.
The S&P BSE
consumer durables index was up 122.63 points, followed by automobile
index which was higher by 71.88 points, metal index rose 56.86 points
and TECK index increased 48.67 points.
However, the S&P BSE
bank index was down 107.77 points, the oil and gas index fell 74.98
points, capital goods index was lower by 72.41 points, healthcare index
decreased 32.61 points, FMCG index declined by 32.20 points and the
realty index fell 31.94 points.
On Monday, the Sensex plunged 604
points or 2.05 percent, as the Indian markets have reacted negatively
to the sharp increase in the US non-farm payroll data for January.
The Indian markets were anxious as rapid increases in non-farm payroll data might lead to an increase in inflation.
This
can make the US Federal Reserve raise interest rates sooner than
previously expected. With higher interest rates, foreign institutional
investors will be led away from emerging markets such as India.
The
major Sensex gainers on Tuesday were: Bharti Airtel, up 7.09 percent at
Rs.367.90; Coal India, up 3.84 percent at Rs.370.65; Mahindra and
Mahindra, up 1.74 percent at Rs.1,227.05 and Bajaj Auto, up 0.75 percent
at Rs.2,128.95.
The losers were: HDFC, down 3.89 percent at
Rs.1,312.80; Hindalco, down 2.06 percent at Rs.138.05; Hindustan
Unilever, down 1.81 percent at Rs.956.65; Sun Pharma, down 1.58 percent
at Rs.1,025.20; and Tata Power, down 1.34 percent at Rs.81.15.
