Sensex ends 162 points down on weak earnings

Mumbai, Nov 9 (IANS) A benchmark index for Indian equities markets Friday ended trade 162.58 points lower on disappointing earnings of bluechip firms like SBI and ONGC and weak global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the negative at 18,832.75 points, closed at 18,683.68 points, down 0.86 percent or 162.58 points from its previous close at 18,846.26 points.

The Sensex touched a high of 18,894.42 and a low of 18,656.41 points intra-day. The BSE midcap index closed 66.27 points down while the smallcap index ended 49.37 points lower.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.91 percent or 52.05 points lower at 5,686.25 points.

State Bank of India slumped over 87.20 points or 3.89 percent due to disappointing earnings at Rs.2,156.35 from its previous close of Rs.2,243.55.

The country's largest lender Friday said its net profit increased by 30.16 percent to Rs.3,658.14 crore for the quarter ended Sep 30, 2012 as compared to Rs.2,810.43 crore recorded in the corresponding quarter of previous year.

This is the slowest increase in the bank's net profit in the last three quarters. The results were below market expectation.

Share price of ONGC slumped 3.05 percent or 8.10 points at Rs.257.10.

There was heavy selling pressure in metals, oil and gas, bank and capital goods stocks.

The BSE metals index was down 153.00 points, bank index was down 160.65 points, oil and gas index was down 110.42 points and capital goods index was down 102.99 points.

Other major Sensex losers were Tata Steel, 3.25 percent down at Rs.390.55; Sterlite Inds, down 2.38 percent at Rs.100.30; BHEL, down 2.13 percent at Rs.232.30; NTPC, down 1.59 percent at Rs.166.95; and ICICI Bank, down 1.57 percent at Rs.1,059.20.

Only four of the 30 Sensex scrips were in the positive at the close of trade.

The Sensex gainers were Bajaj Auto, up 0.36 percent at Rs.1,852.05; Maruti Suzuki, up 0.32 percent at Rs.1,464.65; Cipla, up 0.14 percent at Rs.393.50; and HDFC Bank, up 0.09 percent at Rs.639.30.

Among other Asian markets, Japan's Nikkei was down 0.90 percent, while Hong Kong's Hang Seng ended trade 0.85 percent lower. Shanghai's Composite Index was down 0.12 percent.

At closing bell here, London's FTSE 100 was down 0.58 percent. And so were Germany's DAX, down 1.29 percent, and France's CAC 40, down 0.53 percent.

Source: http://news.yahoo.com/sensex-ends-162-points-down-weak-earnings-131218284--finance.html

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