Sensex marginally higher, Nifty ends in red on late sell-off

The BSE Sensex advanced by 28 points

to close at 32,186.41 today after early gains were undone by

late sell-off by participants amid uninterrupted capital

outflows by foreign funds.

Intra-day, the benchmark Sensex rallied about 190 points

in initial trade on widespread gains.

Sentiment took a dramatic change particularly in the last

one hour of trading with the lower opening of the European

markets and investors started booking profits in broader

markets at record levels, brokers said.

Investors were cautions after retail inflation rose to

a five-month high in August and industrial production grew by

1.2 per cent in July against 4.5 per cent a year ago.

The 30-share Sensex opened strong and stayed in the

positive zone for the major part of the session to hit a high

of 32,348.30, but succumbed to late sell-off by investors

dragged in down to a low of 32,126.77, before ending 27.75

points, or 0.09 per cent higher at 32,186.41.

The gauge has now gained 524.44 points in five straight

sessions.

The 50-share NSE Nifty which surged to 10,131.95, met

with resistance and finally ended 13.75 points, or 0.14 per

cent down at 10,079.30, breaking its four-session long winning

streak. It had gained 176.85 points in the past four trading

sessions.

Losses in BPCL, IOC, ITC Ltd, Indiabulls Housing and

Eicher Motor dragged the index into the negative zone.

Globally, Asian markets mostly ended mixed with Hong

Kong's Hang Seng falling 0.28 per cent, while Shanghai

Composite Index rose by 0.14 per cent and Japan's Nikkei by

0.45 per cent.

Europe was also mixed, with Paris CAC 40 rising 0.06 per

cent and Frankfurt up 0.01 per cent. UK's FTSE fell 0.56 per

cent in early trade.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)