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Sensex Extends Losses For Fifth Day

Indian shares ended Wednesday's session on a flat note despite firm global cues. Erasing early gains, the benchmark Sensex ended down 20 points or 0.1 percent at 19,640, while the broader Nifty index rose by 2 points or 0.04 percent to 5,959. Realty, IT, FMCG and metal stocks saw stock-specific buying, while capital goods, power and banking stocks closed on a subdued note.

JP Associates led the decliners in the Nifty pack, tumbling 3.6 percent, while NTPC lost 2.4 percent ahead of its stake sale tomorrow. Cipla, SBI, ONGC, Hindustan Unilever, BHEL, Siemens, Coal India and Larsen & Toubro lost 1-2 percent. United Bank of India tumbled 3.3 percent on dismal Q3 results.

Maruti Suzuki India gained 1.7 percent, extending recent gains following better-than-expected Q3 earnings. Bank of Baroda closed 1.6 percent higher on bargain hunting after plunging 10 percent in the past two sessions.

Kotak Mahindra Bank advanced 2.3 percent as the private sector lender acquired Barclays India's business loans portfolio worth Rs 700 crore for an undisclosed amount.

Jindal Saw rose 1.6 percent on robust Q3 earnings. Adani Enterprises rallied 2.3 percent after its offer for sale of 70 lakh shares of the company held by a promoter group company fully subscribed.

Other Asian markets ended broadly higher, with Japan's Nikkei index climbing 3.8 percent to hit a four-year high as speculation grew that Bank of Japan Governor Masaaki Shirakawa's earlier departure will pave way for aggressive monetary easing.

European stocks were mixed in early trading as traders digested a slew of earnings reports and looked ahead to Thursday's ECB monthly policy meeting for directional cues.

by RTT Staff Writer

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