Sensex ends 70 points down as metal, bank stocks weaken

Sensex ends 70 points down as metal, bank stocks weaken
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First Published: Thu, Apr 12 2007. 05 34 PM IST
Updated: Thu, Apr 12 2007. 05 34 PM IST
Agencies
Mumbai: The benchmark Sensex closed lower by 70 points on the Bombay Stock Exchange on 12 April as funds and investors liquidated part of their positions ahead of the earnings season.
The 30 share Sensex lost 69.43 points down at 13,113.81 points after touching the day’s high of 13,160.15 and a low of 13,030.87 on two-way movements in heavy-weight stocks.
In likewise manner, on the wide-based National Stock Exchange, Nifty lost 32.80 points at 3,829.85. It moved between 3,861.85 and 3,811.25 points during the session.
Stock brokers said metal stocks, which had been in the positive zone during the past few trading sessions, came under selling pressure at higher level, mainly dragged the Sensex down.
ICICI Bank, the nation’s second-largest lender, fell Rs10.05, or 1.2%, to 849. State Bank of India, the country’s largest, slid Rs13.3, or 1.4%, to 967.9. HDFC Bank Ltd., India’s third-biggest by market value, declined Rs22.2, or 2.3%, to 957.95.
Oil and Natural Gas Corp., India’s largest explorer, declined Rs27.55, or 3.1%, to 852.5. Tata Steel Ltd., the world’s fifth-largest steelmaker, slid Rs15.9, or 3.1%, to 495.95.
Jet Airways (India) Ltd. climbed Rs19.75, or 3.2%, to 628.65. The nation’s biggest domestic carrier agreed to buy Sahara Airlines Ltd. for Rs14.5 billion to stem the erosion of its market share by new low-fare airlines.
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First Published: Thu, Apr 12 2007. 05 34 PM IST
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