Sensex erases gains, ends 10pts down

Nov 20 2012, 17:38 IST
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Sensex erased the initial 129-point gain to settle with a loss of around 10 points. (Reuters) Sensex erased the initial 129-point gain to settle with a loss of around 10 points. (Reuters)
SummarySensex erased the initial 129-point gain to settle with a loss of around 10 points.

Reliance Ind (1.27 pc), Sterlite Ind (1.04 pc), Hero Motoco (0.97 pc) and ONGC (0.89 pc).

However, M&M rose by 3.25 per cent, followed by HDFC (2.02 pc), Tata Power (1.81 pc), Wipro (1.09 pc) and TCS (0.98 pc).

"Just when we thought that the market was poised for some gains, once again selling pressure emerged after opening with a positive gap. Market participants seem to have adopted sell on rise strategy as every rise was taken as an opportunity to offload positions," said Amar Ambani, Head of Research, IIFL.

Among the sectoral indices, the BSE-Realty dropped by 3.02 per cent, followed by BSE-Oil&Gas (0.88 pc) and BSE-Metal (0.73 pc). BSE-Auto firmed up by 0.64 per cent and BSE-CD by 0.11 per cent.

The market breadth continued to remain negative as 1,801 stocks ended with losses while 1,052 closed with gains.

The total market turnover rose to Rs 1,958.06 crore from Rs 1,793.44 crore yesterday. Meanwhile, FIIs sold shares worth Rs 1.52 crore yesterday as per provisional data with stock exchanges.

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