Sensex cuts down losses, buying comes to fore

Mumbai: Market remained volatile today as benchmark indices covered much of the ground after initial bout of losses as fresh buying was seen in realty, oil and gas and auto stocks.

The 30-share index resumed lower at 27,807.82 and hovered in a range of 27,904.04 and 27,716.78. It was quoting at 27,809.80 at 1100 hours, showing a fall of 17.73 points, or 0.06 per cent, from its last close.

The NSE 50-share Nifty was also trading marginally up by 1.10 points, or 0.01 per cent, at 8,592.35.

Cipla fell 4.14 per cent, Coal India 2.43 per cent, Bharti Airtel 1.62 per cent, Dr Reddy’s 1.12 per cent, Adani Ports 1.11 per cent and HUL 1.09 per cent.

However, GAIL rose by 3 per cent, M&M 1.61 per cent, SBI 1.44 per cent and ONGC 1.31 per cent.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 3,413.37 crore yesterday, according to provisional data.

Asian stocks were trading mixed. In Japan, Nikkei 225 fell 1.35 per cent. Hong Kong’s Hang Seng slipped 1.27 per cent and Straits Times was down 0.88 per cent. Shanghai Composite was marginally up 0.14 per cent.

The Wall Street closed lower yesterday. The Dow Jones industrial average slid 1.07 per cent at the close, its sharpest decline since September 13. S&P 500 lost 0.93 per cent and Nasdaq Composite 0.93 per cent.