Sensex slips below 20,000-mark; closes 64 points down

STAFF WRITER 16:53 HRS IST

Mumbai, Oct 28 (PTI) Stock market benchmark Sensex slipped below the psychological 20,000 level today and ended 64 points lower as investors preferred to remain cautious ahead of RBI's policy meet next week, apprehending a hike in short term rates.

Extending losses for the third consecutive session, the 30-share barometer of the Bombay Stock Exchange ended lower by 64.33 points, or 0.32 per cent, at 19,941.04 -- the lowest close since October 20, when it had closed at 19,872.15.

The wide-based 50-share Nifty index of the National Stock Exchange too lost 0.41 per cent to finish at 5,987.70.

The session was very volatile today, as it was the last day for traders to roll over positions in the derivatives segment, marketmen said, adding that range-bound trade is expected to continue in near term.

Sensex ends below 20k level

MUMBAI: Erasing early gains, the Bombay Stock Exchange benchmark Sensex on Thursday fell below the psychological 20,000 mark, losing 64 points, as investors cleared their long positions of derivatives contracts.

The Sensex, which had lost nearly 298 points in last two trading sessions, fell further by 64.33 points to 19,941.04 as investors squared up their positions on expiry of current month contract in the derivatives segment.

The index shuttled between a high of 20,185.46 and a low of 19,869.32 points during the session.

The broad-based National Stock Exchange index Nifty also broke its crucial 6,000 points level by losing 24.95 points at 5,987.70. It touched a high of 6,071.10 and a low of 5,968.10.

A spree of profit-booking further pulled down the benchmark, even as a firming global trend and easing inflation failed to check the down-trend.

Barring auto, all the sectoral indices closed in red. In 30-BSE index components, 22 stocks closed with losses while eight remained higher.

Brokers said the market was in over-bought position as funds and investors were expecting the benchmark might regain its lost peak after 33-months.

They said the front-runner stocks led by Reliance Industries, Infosys Technologies and and ICICI Bank were major losers as speculators unwinded their pending positions.

The foreign funds have been net buyers of stocks for 40 trading days, matching the longest run of inflows in the more than five years since Aug. 9, 2005, they added.

The heavy-weight Reliance Industries dropped by Rs 9.60 to Rs 1,083.05; second-heaviest Infosys Technologies by Rs 9.60 to Rs 2,974.65; leading private lender ICICI Bank by Rs 15.95 to Rs 1,090.30 and state-run State Bank of India by rs 15.90 to Rs 3,177.55. All the four carry nearly 32 per cent weightage on the Sensex.

The realty sector index suffered the most by losing 1.72 per cent to 3,677.84 followed by consumer durable index by 1.51 per cent to 6,517.33. The power, metal, healthcare and FMCG sector were also in red.

As the selling pressure spread over a wide-front, the midcap sector index lost 0.64 per cent to 8,375.75 and smallcap index by 0.53 per cent to 10,758.55.


Read more: Sensex ends below 20k level - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-ends-below-20k-level/articleshow/6828988.cms#ixzz13ez9SeVN

53% voting in third phase of Bihar polls

PATNA: Barring stray incidents, polling passed off peacefully in 48 constituencies figuring in the third phase of Bihar Assembly elections, which saw an estimated 53% voter turnout.

Five Maoist-hit constituencies - Amnour, Taraya, Ramnagar, Balmikinagar and Patepur - recorded 45 per cent to 52 per cent polling.

Voters were ferried by boats in the riverine areas of Raghopur Assembly constituency in Vaishali district where former chief minister Rabri Devi is in the fray. The wife of RJD supremo Lalu Prasad is also contesting from Sonepur seat in Saran district.

Over 185 persons were detained during the polling, which witnessed minor incidents of clash and scuffle. "Otherwise, it was peaceful and smooth," Director General of Police Neelmani said. Around 60 vehicles were also seized.

Borders with Nepal and Uttar Pradesh were sealed and DIG and Commissioner of Saran division along with special task force commandos kept surveillance from the air, Neelmani said.

Constable Pramod Pandey was detained from a booth in an inebriated state in Gopalganj town, he said.

BJP and RJD workers clashed at two booths in Raxaul Assembly constituency in East Champaran district, but none was injured, official sources said.

A scuffle broke out between supporters of rival candidates at a booth at Madhavpur in Lalganj Assembly constituency in Vaishali district, they said.

An independent candidate Awdhesh Singh was arrested with Rs 15,000 in cash for allegedly influencing voters in Amnour constituency in Saran district, they said.

A presiding officer was arrested from a booth in Gopalganj constituency for committing electoral irregularities, they said.

An old woman too died at a booth at Badhara in Siwan district, they said.

The car of state BJP minister Renu Devi was seized in Bettiah town.

Defects in EVMs were reported from a few polling centres in Balmikingar, Bagha, Bettiah, Siwan, Vaishali and Gopalganj constituencies, but they were rectified.

Voters boycotted polling at four booths - two in Bettiah constituency and one each in Bhore and Raxaul.

Polling in the Naxal-hit constituencies of Ramnagar, Balmikingar and Patepur concluded at 3:00 pm, while voting in the other two Maoist-infested constituencies Amnour and Taraiya was over at 4:00 pm.

Over one crore electorate will decide the fortune of six state ministers in today's phase.


Read more: 53% voting in third phase of Bihar polls - The Times of India http://timesofindia.indiatimes.com/india/53-voting-in-third-phase-of-Bihar-polls/articleshow/6826249.cms#ixzz13eywqDBR