Sensex down 57 points on weak global cues

Written by fe Bureau | Mumbai | Updated: Jan 1 2010, 04:54am hrs
Indian equity indices snapped their four-day winning streak to end the day on flat note on Wednesday following weak cues from the global markets. Profit-booking after the recent rise and selling in metal and FMCG stocks also had an impact on the markets. However, provisional figures furnished by the Bombay Stock Exchange (BSE) shows that both foreign institutional investors (FIIs) as well as domestic institutional investors (DIIs) were net buyers. FIIs bought stocks over Rs 113 crore while DIIs picked up stocks worth Rs 69.11 crore.

Also, despite the markets closing in red, the breadth remained positive and the turnover in the cash segment on the National Stock Exchange (NSE) stood at approximately Rs 11,600 crore, even higher than the turnover on Tuesday. The average daily turnover in the cash segment of NSE for December has been just over Rs 14,000 crore. The NSE's derivatives segment reported a turnover of over Rs 79,000 crore, up 7% compared to previous day. The average daily turnover December has been close to Rs 70,000 crore.

The 30-share Sensex of the BSE lost 57.74 points, or 0.33%, to end the day at 17,343.82. The broader S&P CNX Nifty of the NSE was down 18.50 points, or 0.36%, to close at 5,169.45.

Motilal Oswal Securities MD Raamdeo Agrawal said, "Overall, 2009 was a great year for the equity market, which surged from 8,000 levels to 17,000 levels in a span of just 8-10 months. The Indian equity markets are likely to continue their winning rally in the next few months."

KR Choksey Securities MD Deven Choksey said, "The benchmark indices were range-bound and due to it being the year end there was not much activity in the market. In the coming days we are likely to see the markets going northwards on the back of strong inflows from the foreign funds."