Sensex ends below 21,000 again, Bhel down on poor show

The Sensex was down 79.85 points to end at 20894.94. The Nifty closed at 6215.15, down 38.00 points.

FP Staff November 06, 2013 16:16:45 IST
Sensex ends below 21,000 again, Bhel down on poor show

After a volatile session, the market ended on a lower note.

The Sensex was down 79.85 points to end at 20894.94. The Nifty closed at 6215.15, down 38.00 points.

Sensex ends below 21000 again Bhel down on poor show

Representational Image. Reuters

Traders say markets will remain in a consolidation mode this week, but could resume their upward trend as foreign inflows are expected to remain strong until the US Federal Reserve starts to taper its monetary stimulus.

Deven Choksey, MD of KR Choksey Shares and Securities finds valuations of midcap stocks attractive at current level. Also, prospects of infrastructure, capital goods stocks are looking better, he tells CNBC-TV18. He further added that buying from foreign institutional investors (FIIs) remained muted in October as well.

Stocks in news:

Metal and banking stocks lead the fall. Hindalco Industries is down 2.3 percent, while Tata Steel falls 1.4 percent, on profit-taking with both having risen for the last six trading sessions.

State Bank of India down 2.6 percent ahead of its earnings next week which is likely to set the tone for other state-run banks. Punjab National Bank down 1.7 percent.

However, ABB India gains 5.5 percent after the power equipment maker and automation technology provider posts a surge in July-September earnings. ABB's state-run rival Bharat Heavy Electricals is up 0.4 percent ahead of its results due later in the day.

Software services exporters stay up after US-based Cognizant Technology Solutions Corp reported on Tuesday a better-than-expected 22 percent rise in revenue.

Bharat Heavy Electricals fell 1.30 percent down after it posted a worse-than-expected 64 percent fall in quarterly net profit on Wednesday, the fifth straight drop, as a slowdown in demand ate into the sales of the country's largest power equipment maker.

Updated Date:

also read

Market Roundup: Sensex falls 303 points, Nifty settles at 16,025; check top winners and losers
Business

Market Roundup: Sensex falls 303 points, Nifty settles at 16,025; check top winners and losers

BSE Sensex and NSE Nifty 50 failed to hold on to the day’s gains and fell over 0.5 percent. IT fell over 3 percent while banking and financial services were the only gainers.

Market Roundup: Sensex gains 503 points, Nifty ends at 16,170; check top winners and losers
Business

Market Roundup: Sensex gains 503 points, Nifty ends at 16,170; check top winners and losers

Strong buying was seen in banking and metal stocks. Tata Steel was the biggest gainer on the bourses, rising over 5 percent

Market Roundup: Sensex declines 37 points, Nifty ends at 16,214; metal falls over 8%
Business

Market Roundup: Sensex declines 37 points, Nifty ends at 16,214; metal falls over 8%

Metal stocks were the biggest laggard as domestic indices erased all intraday gains amid a volatile session and auto was the biggest gainer.