A benchmark index of Indian equities markets Tuesday closed flat down 35 points or 0.13 percent as realty, information technology (IT) and automobile stocks plunged.Healthy buying was observed in banks, power and metal stocks. The 30-scrip Sensitive Index (Sensex) of the S&P BSE, which opened at 26,537.42 points, ended at 26,349.33 points, down 34.74 points or 0.13 percent from the previous day's close at 26,384.07 points.The Sensex touched a high of 26,550.79 points and a low of 26,212.01 points in the intra-trade.According to Angel Broking, the Indian markets opened in positive territory tracking SGX Nifty."US markets closed in the negative territory Monday. The weakness that emerged on US markets partly reflected lingering concerns about global economic growth and monetary policy pergence," the broking firm was quoted in a statement.
"European markets steadied Monday, but gains were tempered by scepticism about the European Central Bank's promise of further measures to bolster the region's sluggish economy."The marginal slump in markets came on the day when data showed that India's wholesale price inflation eased to its lowest levels in nearly five years at 2.38 percent during September compared to 3.74 percent in the previous month, aided by a moderation in food and fuel costs.The wholesale price index (WPI) was at 7.05 percent during the corresponding month of the previous year, according to data released by the ministry of commerce and industry here.Food prices jumped by 3.52 percent year-on-year during the month under review. The food inflation had increased by 14.03 percent in September, 2013.On Monday data showed that consumer price index-based inflation at 6.46 percent (provisional) came down to its lowest levels since 2012 during September from 9.84 percent in the corresponding month of last year.
The retail inflation based on Consumer Price Index (CPI) had slowed down to 7.73 percent in August from 7.96 percent in the previous month. The latest data assumed significance as Reserve Bank of India (RBI) had set a target for CPI inflation at eight percent by January 2015 and six percent by January 2016.The realty sector was hit a day after the market regulator Securities and Exchange Board of India (SEBI) had banned DLF from accessing the markets. The company's scrip plunged by 28.46 percent at Rs.104.95.Sector-wise the S&P BSE realty index was down 144.43 points, followed by IT index which was lower by 83.52 points and automobile index lost 74.02 points.However, bank index was up 93.75 points, power index gained 11.51 points and metal index was higher by 9.30 points.The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed in red. It fell 20.25 points or 0.26 percent at 7,864 points.
The major Sensex gainers were: BHEL, up 3.56 percent at Rs.225.75; Axis Bank, up 2.76 percent at Rs.397.10; Bajaj Auto, up 2.50 percent at Rs.2,410.05; Tata Power, up 1.88 percent at Rs.86.70; and Bharti Airtel, up 1.72 percent at Rs.398.45.The losers were: Tata Motors, down 1.64 percent at Rs.488.20; HDFC, down 1.44 percent at Rs.1,003.85; ONGC, down 1.27 percent at Rs.401.65; ITC, down 0.87 percent at Rs.2,947.20; and HDFC Bank, down 0.86 percent at Rs.868.75.Among the Asian markets, Japan's Nikkei closed 2.38 percent down, while Hong Kong's Hang Seng lost 0.21 percent. Shanghai Composite Index, too, was lower by 0.28 percent.In Europe, London's FTSE 100 was trading 0.48 percent down. Germany's DAX Index was lower by 0.72 percent and the French CAC 40 Index declined by 0.96 percent at the closing bell here.