Mumbai, Feb 18 (Inditop.com) A benchmark index for Indian equities Thursday was dragged into the red by heavyweight scrip Reliance Industries over reports that the company may have to raise its offer for a controlling stake in bankrupt petrochemical and refining major LyondellBasell Industries.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,421.2 points, shut shop at 16,327.84 points, down 101.07 points or 0.62 percent from its previous close, while Reliance Industries lost 3.35 percent.
According to reports, Reliance Industries (RIL) may have to increase the payout for the acquisition to $15.5 billion from the earlier $13.5 billion.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,887.75 points, against the previous close at 4,914 points, a loss of 0.53 percent or 26.25 points.
Broader market indices were also ruling in the red, with the BSE midcap index ending 0.62 percent down and the BSE small cap index trading 0.4 percent lower.
The market breadth was negative, with 1,060 stocks advancing, 1,760 on the decline and 85 remaining unchanged.
Among major gainers on the Sensex were HDFC Bank, up 1.79 percent at Rs.1,683.70; NTPC, up 1.54 percent at Rs.205.05; HDFC, up 0.76 percent at Rs.2,475.20; and Bharti Airtel, up 0.72 percent at Rs.281.10.
Top losers included RIL, down 3.35 percent at Rs.997.40; Sterlite Industries, down 2.55 percent at Rs.768.50; Jaiprakash Associates, down 2.02 percent at Rs.135.55; and Reliance Infra, down 2.02 percent at Rs.1,028.65.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net buyers Thursday, having bought scrips worth $265.95 million.
Other Asian markets too closed on a subdued note.
The benchmark Japanese index, Nikkei, managed to crawl up 0.3 percent to close at 10,335.69 points, while Hong Kong’s Hang Seng ended 0.54 percent in the red at 20,422.15 points.
The South Korean Kospi too closed lower, slipping 0.38 percent to 1,621.19 points.
Chinese exchanges will reopen Monday after the week-long Lunar New Year holiday.
European benchmark indices, which opened on a weak note continued to struggle as trading progressed.
After three consecutive days of gains, the FTSE 100, the benchmark index of the London Stock Exchange, was ruling 0.59 percent higher at 5,307.53 points, while its German peer DAX was trading at 5,671 points, up 0.4 percent.
The French CAC 40 index was up 0.39 percent at 3,739.69 points.
