Sensex closes 44 points down

Sensex fell 44 points as investors remained cautious ahead of industrial growth data.

In second day of dull trading,the BSE Sensex today fell 44 points to 17,199.40 as investors remained cautious ahead of industrial growth data,weak global markets and a massive earthquake in Sumatra that triggered tsunami fears in the Asian region,including India.

India issued a tsunami warning for Nicobar islands and alerted the coastal regions of Tamil Nadu and Andhra Pradesh following the quake during the last hour of trading,and the stock market was unable to sustain the gains it had begun to make just before that.

In 2004,a 9.20-magnitude earthquake off-Sumatra led to a tsunami killing around 2,20,000 people. Last year,a 9- magnitude earthquake caused a tsunami and nuclear disaster in Japan,killing 19,000 people.

The quake today dampened the already cautious investor mood ahead of industrial growth IIP numbers to be released tomorrow and weak chances of a cut in lending rates by the Reserve Bank at its annual policy meet next Tuesday.

Asian markets were mixed amid concerns of weak global growth and resurfacing of the European debt crisis.

Metals,consumer durables,refinery,capital goods and realty stocks registered marginal losses,although pharma stocks saw good buying support.

The Bombay Stock Exchange 30-scrip index,Sensex,resumed around 150 point down from yesterday8217;s close and touched a low of 17,075.89. It finally settled at 17,199.40,down 44.44 points or 0.26 per cent. It had gained barely 22 points the previous session in dull trading.

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The NSE 50-issue index Nifty today fell 16.75 points or 0.32 per cent to close at 5,226.85,after dipping below 5,200 intra-day.

8220;A massive earthquake in Indonesia and tsunami warning led to a bout of profit booking from which markets again recovered from the day8217;s lowest level in closing moments,8221; said Sharmila Joshi,Head Equity,Fairwealth Securities.

FIIs had offloaded Indian shares worth Rs 328.67 crore yesterday as per provisional data with stock exchanges,which also weighed on the market sentiment.

In Asia,key indices from Hong Kong,Japan,Singapore and South Korea closed with losses,although markets in China and Taiwan closed with gains. However,key European markets were trading in the green after having suffered huge losses yesterday.

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Overall,18 of the 30 Sensex scrips closed in the red. Jindal Steel fell 2.92 per cent,followed Bharti Airtel 2.27 pc,Sterlite 1.97 pc,BHEL 1.92 pc,Tata Power 1.87 pc,RIL 1.36 pc,Tata Steel 1.35 pc,TCS 1.31 pc,DLF 1.22 pc and Hindalco 0.88 pc.

Meanwhile,Sun Pharma rose 2.08 pc,NTPC 8211; 1.79 pc and Infosys 8211; 0.92 pc.

Among the sectoral indices,the BSE-Metal dropped 1.34 pc,Consumer Durables 8211; 1.05 pc,Oil amp; Gas 8211; 0.86 pc,Capital Goods 8211; 0.83 pc and Realty 8211; 0.77 pc,while Healthcare firmed up by 0.58 pc.

The total market breadth at the BSE remained negative as 1,539 stocks lost ground,while 1,232 finished with gains. The total turnover improved to Rs 2,383.42 crore,from Rs 2,297.75 crore yesterday.

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