The stock markets were today unable to hold on to opening gains and a volatile day of trade ended with the Sensex shedding over 237 points. |
The markets opened strong and the Sensex zoomed to an 86-point rise. However, every spike in stock prices was met by profit booking and the markets were beaten down. By noon, there was no respite from the selling pressure and the indices moved southwards steadily. |
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The Sensex ended trade at 10213, down by 2.28 per cent from Friday's close. The 50-stock Nifty closed lower by 76 points at 3016.65. |
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The post-noon selling frenzy spanned sectors and scrips. Cement companies were big losers at the bourses today. ACC pulled the Sensex down with its 5.53-per-cent fall. The counter closed trade at Rs 742.70. India Cement shed 6.49 per cent and ended trade at Rs 145.55. |
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The mayhem continued in the metals space. Hindalco closed lower by 5.23 per cent at Rs 170.35, after touching an intra-day low of Rs 169.50. Sterlite Industries, which opened strongly and touched an intra-day high of Rs 436.80, shed all its gains and closed at Rs 399.90, down by Rs 25.90 from Friday's close. |
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The volumes traded were not high in both the exchanges. NSE reported a total turnover of Rs 6532.2 crore, while at BSE shares totaling Rs 2822.48 crore were traded. |
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Foreign institutional investors were net buyers for the second day in a row, the only silver lining in Monday's trade, according to analysts. |
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Provisional data from the stock exchanges suggest that FIIs were net buyers to the tune of Rs 526.53 crore in the capital markets today. On Friday, they bought equity worth Rs 640.4 crore. |
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