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Sensex ends 135 points lower, Jet ends 32% lower

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Sensex and Nifty ended lower on Thursday after advancing for four consecutive sessions as investors took to profit booking. Investors also treaded with caution ahead of Q4 results from index heavyweight Reliance Industries Limited (RIL).
 
Jet Airways was in the spotlight throughout the day over its steep fall. Jet's scrip closed 32 percent lower on the BSE, 32.23 percent lower at Rs 163.90 apiece after it fell up to Rs 158.10 after "temporary suspension of domestic and international operations" over the refusal of lenders to provide emergency funding.
 
"Negative Asian markets impacted the market sentiments as Japanese manufacturing activity contracted at a slightly slower pace in April thanks to a pick-up in hiring, a flash PMI survey showed, but new export orders fell at the fastest pace in almost three years in a sign slow global demand remains a major pressure point," said Deepak Jasani of HDFC Securities.
 
The BSE Sensex closed 135 points or 0.34 percent lower at 39,140.28 and the broader Nifty settled 34.35 points lower or 0.29 percent to 11,752.80.
 
"Investors turned cautious ahead of announcement of results from key index heavyweights including large corporate banks. Consolidation was broad-based with PSU banks and metals underperforming," said Vinod Nair, Head of Research, Geojit Financial Services.
 
"Despite mixed flows from DIIs, the downside was capped by positive flows from FIIs given a good start to Q4 results."
 
"The accelerating scenario of a slowdown in global growth as also the definitive prospects of higher fuel prices and a weaker currency may also be working on the minds of the market participants at this juncture," said Joseph Thomas-Head Research, Emkay Wealth Management.
 
The top gainers on the Sensex were Reliance Industries followed by Tata Motors, Tata Motors (DVR), Asian Paints and TCS. The laggards were Yes Bank declining over 4 per cent followed by Vedanta, IndusInd Bank, Tata Steel and Larsen and Toubro.
 
NNN
 

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