Feb 08, 2013, 04.54 PM | Source: Moneycontrol.com

Disappointing close for Sensex, Nifty; TCS outperforms

BSE benchmark Sensex ended 95 points down at 19484.77 and NSE Nifty lost 35.30 points to close at 5903.50.

In the absence of positive global cues, poor third quarter earnings and slowdown in the economy, equity market saw a disappointing close on the last trading day. BSE benchmark Sensex ended 95 points down at 19484.77 and NSE Nifty lost 35.30 points to close at 5903.50.  Nifty even went below 5900 intra-day, triggering Puts at the lower levels. For the week, the benchmarks lost nearly 1.5 percent each, while midcaps bled with 3 percent cut.

Tech stocks held steady throughout the week with TCS closing up 2.58 percent on Friday. Wipro closed with 1.57 percent gains and Hexaware made smart gains. Other winners include HDFC Bank, BHEL and Larsen, all of which moved up around 1 percent.

The cement duo — ACC and Ambuja Cements — performed miserably on the bourses, they lost 5.2 percent and 3.02 percent respectively. Hindaclo was a big loser; the stock wiped out 3.18 percent to trade  at Rs 109.75 after it announced a ho-hum quartely numbers. Sterlite and Sesa lost 3 percent and 2.5 percent each. Despite good numbers, first by Sun Pharma and later by Mahindra and Mahindra, the mood in the market could not be reversed. Both ended in the red.

In the midcap space, Jet Airways moved up 1.46 percent as Etihad completed due diligence. Other gainers include Essar Oil, Strides Arcolab and Bajaj Electric. On the losing side, Jain Irrigation and Manappuram finance stand as biggest losers of the week. Srei Infra lost a lot of ground on news that the company has sold its KFA loan to Diageo.


Key equity benchmarks succumbed to selling pressure in the afternoon. The Sensex is down 14.27 points at 19566 and the Nifty slips 13.20 points to 5925.

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Key equity benchmarks turned positive after a flat start to trade. The BSE Sensex is up 44.36 points or 0.23 percent at 19624.68, and the Nifty up 4.75 points or 0.08 percent at 5943.55.

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Investors woke up to a flat Friday morning. At 09.24 AM, the Sensex was up 29.36 points at 19609.68, and the Nifty moved ahead 6.80 points to touch 5945.60.

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