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Updated: August 8, 2013 11:24 IST

Sensex loses earlier gains, declines 19 points

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Headquarters of BSE in Mumbai. File photo: Paul Noronha
The Hindu
Headquarters of BSE in Mumbai. File photo: Paul Noronha

In a volatile market, the S&P BSE benchmark sensex washed out earlier gains and was quoted lower by 19 points in the late morning trade on fresh selling mainly in Healthcare,Refinery, IT, Power and PSU sectors despite higher Asian cues.

The sensex resumed higher at 18,687.30 and firmed up further to a high of 18,734.60 on initial buying mainly in Realty, Auto, CD, CG and Metal sectors on the back of higher global cues.

However, it declined immediately to 18,621.67 before quoting at 18,645.46 at 1025hrs, showing a loss of 19.42 points or 0.10 per cent from its last close.

The NSE 50—share Nifty also moved down by 4.75 points or 0.09 per cent to 5,514.35 at 1025hrs.

Major losers were Sunpharma (3.17 pct), Tata Power (1.88 pct), Wipro (1.69 pct), ONGC (1.54 pct), Gail India (1.27 pct) and Dr Reddy’s Lab (1.14 pct).

However, Maruti Suzuki moved up by 3.58 pct followed by Tata Motors 2.65 pct, M&M 1.90 pct, Jindal Steel 1.25 pct and HDFC Bank 1.12 pct.

Meanwhile, foreign institutional investors (FIIs) sold shares worth a net Rs 350.93 crs yesterday as per provisional data from the stock exchanges.

Asian stocks rose in their early trade after China reported much better than expected trade results for July, marking a sharp recovery from the previous month.

Key benchmark indices in Hong Kong, Japan, South Korea, China and Taiwan were up 0.05 pct to 1.34 pct.

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