Volatile trading grips Sensex, ends 9 pts lower

Volatile trading grips Sensex, ends 9 pts lower

New Delhi: Volatile trading forced benchmark Sensex to remain in the negative zone on Thursday, 11 December as it ended 0.01% lower.

The 30-share BSE index opened 90 points up but quickly slipped to negative on leads from weaker Asia markets that reeled under uncertainty of US automakers bailout bill. Sensex ended 9.44 points lower at 9,645.46.

The broad based 50-issue NSE index slipped by 8.10 points to end at 2920.15.

Government data released on Thursday showed that inflation index slipped to 8% for week ended 29 November from previous week’s 8.4%, but this positive indicator failed to boost buying sentiment.

Speculators had expected profit-trading on Thursday keeping in mind stimulus package announced on Sunday and bearish trend of the previous days.

Information Technology and capital goods sector were the major losers of the day. TCS toped the list by falling 6.17% to Rs507.65, followed by Satyam Computers (5.14%, Rs224.45), Gail (4.87%, Rs208.50) and Hindalco (4.65%, Rs51.25).

Meanwhile Asian markets that opened low on investor worry of uncertain market trends surged slightly later in the day as Hang Seng ended 0.23% higher and Nikkei 0.70% up.