Despite hopes of healthy economic expansion data, the slide in Asian bourses and a weaker rupee dented the Indian equity markets on Monday - leading a barometer index to shed 109 points.As a consequence of a slide in the Asian markets, the rupee ended weaker by 35 paisa at Rs.66.50 from its previous close of Rs.66.15 on Friday.Bearish sentiments due to negative Asian cues dampened trade at the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which fell by 109.29 points or 0.41 percent.Weak sentiments were also witnessed at the wider 50-scrip Nifty of the National Stock Exchange (NSE). The CNX Nifty of the NSE declined by 30.65 points or 0.38 percent at 7,971.30 points.
The S&P BSE Sensex, which opened at 26,469.42 points, closed at 26,283.09 points -- down 109.29 points or 0.41 percent from the previous day's close at 26,392.38 points.The S&P BSE Sensex touched a high of 26,504.73 points and a low of 26,215.16 points in the intra-day trade.Analysts pointed out that the negative cues eminating out of Asian markets, especially due to the slide in the Chinese markets, made investors reluctant to chase higher prices."The markets are lower due to the fall in Asian markets. Despite attractive valuations, bargain hunting is being resisted due to the Asian markets factor and its consequence -- the weakening in rupee value," Anand James, co-head, technical research, Geojit BNP Paribas, told IANS.
"However, the markets might pick up on the back of healthy GDP data due to be released later today. A healthy data coupled with government's attempts to restart the consensus-building efforts to pass the GST bill (goods and services tax) have the potential to support the Indian equities."Sector-wise, capital goods, automobile, banks, consumer durables and fast moving consumer goods (FMCG) came under heavy selling pressure.The S&P BSE capital goods index plunged by 176.07 points, the automobile index receded by 138.23 points, the banks contracted by 66.27 points, the consumer durables index declined by 53.94 points and FMCG index tumbled by 31.29 points.On the other hand, healthcare index augmented by 316.06 points, metal index gained by 44.35 points and oil and gas sector was higher by 24.31 points.
Major Sensex gainers during Monday's trade were: Lupin, up 3.55 percent at Rs.1,928.85; Cipla, up 3.30 percent at Rs.681.50; Dr.Reddy's Lab, up 3.15 percent at Rs.4,310.15; Coal India, up 2.50 percent at Rs.366.35; and Vedanta, up 2.34 percent at Rs.98.60.The major Sensex losers were: BHEL, down 3.45 percent at Rs.226.50; Bharti Airtel, down 2.14 percent at Rs.354.50; Hindalco Industries, down 2.08 percent at Rs.80.05; ICICI Bank, down 1.92 percent at Rs.278.10; and Reliance Industries, down 1.65 percent at Rs.856.80.Among the Asian markets, Japan's Nikkei tumbled by 1.28 percent. Hong Kong's Hang Seng gained by 0.27 percent. China's Shanghai Composite Index dropped by 0.78 percent.In Europe, London's FTSE 100 index rose by 0.90 percent, French CAC 40 tumbled by 0.50 percent and Germany's DAX Index slipped by 0.43 percent at close of trading here.