Sensex closes 15 points down
Selling pressure was strong in metals, IT, capital goods, PSUs and power sector stocks.
RIL, top heavyweight on the BSE 30-scrip index, surged 4.94 per cent after it said in a filing that its board will meet on Friday "to consider and approve a proposal for buy back of equity shares".
However, IT major TCS lost 2.62 per cent despite having posted sound Q3 results yesterday.
Overall, IT stocks were down on the strengthening rupee that tends to lower the profit margins of software services exporters. IT companies earn about 85 per cent revenues from the US and Europe.
Sensex opened the day higher than yesterday's level and moved between 16,517.96 and 16,384.48. It closed at 16,451.47, down 14.58 points or 0.09 per cent.
The NSE 50-share index Nifty also moved down by 11.50 points or 0.23 per cent to settle at 4,955.80.
Global cues were weak. Key indices in Hong Kong, Taiwan and Japan were up, but those in Singapore, China and South Korea were down. In Europe, markets in the UK, Germany and France were also down in the afternoon trade.
"The mood was somber for the entire market even as index heavyweight Reliance gained. IT stocks witnessed selling pressure from the onset of the session as sentiments got adversely affected by TCS's management cautious comments at
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