Mumbai June 12 (IANS) Caution ahead of major domestic macro-data release coupled with weak global cues and heavy selling pressure in banking capital goods and consumer durables stocks suppressed the Indian equity markets on Monday.
The key equity indices closed with losses of more than half-per cent each as investors remained cautious ahead of the release of Index of Industrial Production (IIP) and Consumer Price Index (CPI) data later in the evening.
The wider Nifty of the National Stock Exchange (NSE) fell by 51.85 points or 0.54 per cent to close at 9 616.40 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 225.43 points closed at 31 095.70 points -- down 166.36 points or 0.53 per cent from its previous close at 31 262.06 points.
It touched a high of 31 225.43 points and a low of 31 044.28 points during intra-day trade.
The BSE market breadth was bearish -- with 1 673 declines and 1 019 advances.
In terms of broader markets the S&P BSE mid-cap index fell by 0.53 per cent and the small-cap index by 0.61 per cent.
Markets began the week on a negative note and ended lower on Monday. The losses came on the back of negative global cues Deepak Jasani Head - Retail Research HDFC Securities told IANS.
Major Asian markets ended on a negative note barring the Jakarta index. European indices like FTSE 100 CAC 40 and DAX traded lower.
On the currency front the rupee weakened by 20 paise to 64.44 to a US dollar from its last close of 64.24-25.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 169.25 crore while domestic institutional investors (DIIs) divested scrips worth Rs 63.11 crore.
According to Dhruv Desai Director and Chief Operating Officer of Tradebulls market turnover during the day s trade was less than that of the previous trading session.
Market it seems is waiting for economic data due to release today. Some profit booking also cannot be ruled out before the release of CPI and IIP data Desai told IANS.
State-run banks saw losses today as sentiment took a hit after Maharashtra agreed on Sunday to write off all loans availed by farmers.
Sector-wise the S&P BSE capital goods index declined by 280.49 points the banking index by 273.51 points and the consumer durables index by 212.94 points.
On the other hand the S&P IT index was up by 41.95 points and the Teck (technology media and entertainment) index by 10.10 points.
Major Sensex gainers on Monday were: Infosys up 1.60 per cent at Rs 963.80; Sun Pharma up 1.59 per cent at Rs 533.15; Hindustan Unilever up 0.42 per cent at Rs 1 099.85; Cipla up 0.41 per cent at Rs 552.25; and Gail up 0.24 per cent at Rs 381.85.
Major Sensex losers were: Larsen and Toubro down 2.29 per cent at Rs 1 736; Tata Motors down 2.29 per cent at Rs 456.50; Wipro down 1.95 per cent at Rs 526.30; ICICI Bank down 1.88 per cent at Rs 315.75; and Bajaj Auto down 1.37 per cent at Rs 2 826.90.
--IANS
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Caution ahead of macro-data release, global cues suppress equities (Roundup)
