Nifty languishes for fourth day, down by 20 points

PTI Posted online: Monday, Jan 06, 2014 at 0000 hrs
Mumbai : Bourses got drained by another 20 points for the fourth consecutive day as caution prevailed the investors' sentiments ahead of the earning results and unfavourable global cues.

Market struggled to stay adrift finally reflected to HSBC/ Markit Purchasing Manager Index Data showing the country's service sector output falling 46.7 from 47.2 in November as well as US Fed's stimulus tapering which slated to start this month.

Selling was witnessed in banking, IT, PSU and energy sectors, while shares from small-cap and mid-cap companies performed better.

Meanwhile, Foreign institutional investors sold shares worth a net Rs 18.06 crore on Friday, according to provisional data from the stock exchanges.

Bourses resumed lower on weak Asian markets and traded in negative terrain during morning trade after Markit data showed deterioration in country's business sectors, it further strained during afternoon and ended in red.

The 50-share Nifty hovered between a high of 6,224.70 points and a low of 6,170.25 points before closing at 6,191.45 points, showing a loss of 19.70 points, or 0.32 per cent.

Major losers were Tata Power, ICICI Bank, Bank of Baroda, SBIN, Heromotoco, JP Associate, Infy, PNB, DLF and Tata Steel, while ONGC, Jindal Steel, Sun Pharma and Tata Motors managed gains.

Turnover in the cash segment declined to Rs 10,607.11 crore from Rs 10,901.05 crore last Friday. A total of 6,137.04 lakh shares changed hands in 55,51,950 trades, while market capitalisation stood at Rs 68,00,421 crore.