The Hindu Business Line : Sensex sheds 142 points, Nifty 45 on weak Asian markets

With market participants, across the board, squaring up positions before the end of the financial year, indices that opened weak could not be sustained at all.

The Sensex, which had ended trade on Monday at 6510.74, barely rose to touch an intra-day high of 6512.98. The 30-stock benchmark index then fell sharply to lose 186.25 points during the day. Subsequently, it recovered marginally to close for the day at 6367.86, down by 142.88, a loss of 2.19 per cent in one day's trade.

The Nifty was lighter by 2.25 per cent at the end of trade today. It shed 45.6 points and closed at 1983.85. This is the first time since January 27 that the index has slipped below the 2000 level.

Markets traded on average volumes today. At BSE, 22 crore shares worth Rs 2,171.89 crore were traded. NSE reported trading of 31.75 crore share worth Rs 4,283 crore. Market breadth was negative with only 403 scrips advancing and 1,965 declining at BSE. NSE witnessed 725 declines as against 91 advances.

With market breadth staying negative, close to Rs 40,000 crore of market capitalisation was wiped out today. Across the board selling ensured that all indices closed in the red today.

Brokers say that though a slump in the last few days of the financial year was expected, weak global markets contributed heavily to the negative sentiment today. As trades done today would have to be settled by March 31, effectively books will be closed as per today's portfolio.

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