Markets end marginally weak

Markets end marginally weak

New Delhi: The markets erased early gains of more than 1% to end marginally weak, as concerns grew over the success of US government’s plans to rescue the ailing financial system. On the domestic front, the derivatives expiry also kept markets choppy.

The BSE benchmark index settled 0.3% or 47 points lower at 13,995 levels. It had touched a high of 14,221 levels in intra-day deals.

In other Asian markets, Nikkei 225 index climbed 1.4% to close at 12,090 levels, while Hong Kong’s Hang Seng Index rose 1.6% to 19,632.

Back home, capital goods counters witnessed heavy sell-off with Suzlon Energy skidding 6.8%. Punj Lloyd, Siemens India, Kalpatru Power, Gammon India, Thermax Limited, AIA Engineering, Larsen and Toubro, ABB Limited and Elecon Engineering also lost ground.

Satyam Computer that lost 4.7% or Rs17 by close was the top loser in the technology pack. NIIT Limited, Infosys Technologies, Mphasis, Tech Mahindra, Wipro, Patni Computer and Rolta India also closed in the red.

However, Moser Baer vaulted 18.9% or Rs21 to settle at Rs133 levels.

Select metal counters ended the day firm. Sesa Goa at Rs123 levels led the gainers pack, firming up 13% by close. Gujarat NRE Coke (up 7.2%), NMDC Limited (5%), Tata Steel (2.9%) and Jindal Steel (1.8%) were some of the other notable gainers.