Sensex recovers early losses, ends 63 pts down

Mumbai: Benchmark sensex nearly off its 9-month low of 16,920.61, lowest intra-day low since January 30, 2012, but short-covering after late mid-session trimmed early major losses, still closing lower by 63 points above 17-K mark at 17,058.61 on weak global cues amid fresh capital outflows.

The Bombay Stock Exchange 30-share barometer, which was down by over 200 points at mid-session, later bounced back on short-covering on the last day expiry of March contract and settled at 17,058.61, showing a fall of 63.01 or 0.37 per cent. Yesterday, it ended down by 135.74 points or 0.79 pct.

Similarly, the NSE wide-based 50-issue Nifty moved in a range of 5,194.30 and 5,135.95 before concluding at 5,178.85, displaying a slightly slide of 15.90 points or 0.31 per cent. Selling was seen mainly in heavyweights like Infosys Tech, L&T, TCS, ITC, Bharti Airtel, SBI and HDFC Bank while Jindal Steel, HDFC, ONGC and Tata Power attracted good buying support. Capital goods counters suffered the most on selling followed by BSE-IT BSE-Teck, however, some of the pharma, consumer durable, auto stocks attracted good buying support.

Although, FIIs bought shares worth Rs 249 crore yesterday as per Sebi data, but according to the market participants, looking at the current unvavourable scenario already they have slowed-down their activities and may pulled out if the trend remained sluggish. They also said that next triger will be the announcement of the Q4 results since second week of the next month.