Sensex ends lower, oil companies, ADAG stocks gain

Mumbai (IANS) - A benchmark index for Indian equities Friday closed 155 points lower, even as the markets cheered the new gas supply agreement between the Ambani brothers and the government's  approval for market-determined petrol prices.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,705.11 points, closed at 17,574.53 points, 155.71 points or 0.88 percent down from its previous close at 17,730.24 points.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty shut shop at 5,269.05 points, down 0.97 percent from its previous close at 5,320.6 points.

Broader markets too ended in losses with the BSE midcap index ending 0.7 percent lower and the BSE smallcap index 0.54 percent down.

The market breadth was tilted towards the negative, with 1,148 scrips on the advance, compared to 1,696 stocks declining, and 115 remaining unchanged.

Banking and metal scrips were under selling pressure, while oil and gas scrips and healthcare scrips saw some buying.

From the Anil Dhirubhai Aambani Group (ADAG) pack, the RNRL scrip ended trade 3.29 percent higher at Rs.65.95, while Reliance Communications closed 2.34 percent up at Rs 192.50.

Reliance Infrastructure ended 0.47 percent up at Rs.1,168.05, while Reliance Capital shut shop 1.16 percent higher at Rs 768.75.

Mukesh Ambani-led Reliance Industries closed 1.14 percent up at Rs.1,063.25.

Among some other gainers on the Sensex were ONGC, up 6.35 percent at Rs.1,264; Reliance Communications, up 2.34 percent at Rs.192.50; Cipla, up 1.87 percent at Rs.346.80.

Prominent losers included Sterlite Industries, down 3.25 percent at Rs.168.25; ICICI Bank, down 3.09 percent at Rs.857.50; M&M, down 2.81 percent at Rs.614.70; and Wipro, down 2.75 percent at Rs.390.55.

According to data with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $267.83 million Friday.

Asian markets ended in the red following a fall in the Wall Street overnight.

The Japanese Nikkei ended 1.92 percent lower at 9,737.48 points, while the South Korean Kospi closed at 1,729.84 points, 0.58 percent down.

Hong Kong's Hang Seng closed 0.21 percent down at 20,690.79 points. The Chinese Shanghai composite index too was in the red at 2,552.82 points, down 0.54 percent.

European markets were in a slump as well, with oil major BP's stock falling to a 14-year low over fears of its finances following the huge losses and compensation claims it had to face because of the Gulf of Mexico oil spill.

In Britain, the benchmark index, FTSE 100 was ruling 0.38 percent lower at 5,080.89 points, while the French CAC 40 was down 0.48 percent at 3,538.29 points.

The German DAX was trading 0.64 percent lower at 6,076.51 points.