Sensex down 29 points on weak global trends

Sensex down 29 points on weak global trends

BSE Sensex Down 29 Points On Weak Global Trends. The BSE benchmark Sensex on Tuesday fell 28.92 points on selling in bluechips like RIL and Hero...

The BSE benchmark Sensex on Tuesday fell 28.92 points on selling in bluechips like RIL and Hero MotoCorp, amid weak global cues ahead of key U.S. job data that may influence the timing of Fed’s anticipated move to taper the economic stimulus.

The 30-share index, which had climbed to three-year high in the previous session, fell by 28.92 points, or 0.14 per cent to 20,864.97. The gauge shuttled between 20,948.91 and 20,810.25 intra-day but prevailing caution forced investors from taking fresh long positions, traders said.
In Sensex, 15 stocks ended lower and 14 climbed, while Tata Motors remained unchanged. Reliance Industries dropped 1.07 per cent to Rs. 903.60, after gaining more than five per cent in the last three sessions. Hero MotoCorp shares lost 1.37 per cent to end at Rs. 2,069.95 before quarterly earnings.
The BSE benchmark had climbed to its highest level since November 2010 on Monday as more companies posted earnings higher than market expectations. Sustained capital inflow also helped local stocks rise, experts said.
The global mood on Tuesday, however, was tepid with the U.S. Labor Department expected to announce the jobs data at 8:30 am Washington time. The U.S. Fed is expected to hold policy meetings on October 29-30 and December 17-18. Stocks mostly stayed weak in Asian and the opening was also lower in Europe.
The broad-based National Stock Exchange index Nifty declined 2.15 points, or 0.03 per cent, to end at 6,202.80, after moving between 6,220.10 and 6,181.80. MCX-SX’s SX-40 index closed at 12,403.16, up 4.3 points or 0.03 per cent.
Sectorally, the BSE Consumer durable index fell the most by losing 0.87 per cent, followed by auto index by 0.56 per cent. Oil and gas index declined 0.28 per cent and realty index by 0.22 per cent.
On the other hand, Power, Capital goods, PSU, IT, TECk, Bank, Healthcare and Metal sector indices ended better and saved the market from any major fall.
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