Sensex ends lower; ONGC plunges

The Sensex ended the volatile session on a lower note. IT, PSU, oil & gas,capital goods and power stocks led the declines, whereas metal gained. It opened with a gain of 50.55 points, at 15,517.36 on Thursday after witnessing a huge rally yesterday for the second day. The index soon fell into the negative terrain on profit booking and proceeded to slip further touching a low of 15,240.73 on the back of aggressive selling pressure seen in frontliners. However, it pared some of its losses to finally close in the negative.
India`s benchmark wholesale price index (WPI), inflation declined to 0.13% for the week ended May 30, 2009 as compared to 0.48% a week ago.The lowest ever in over three decades even as prices of essential food items like pulses, fruit and vegetables, spices and eggs turned dearer.
On the other hand, it was a cheerful day for fraud-hit Satyam Computer as the company hit the upper limit for the third consecutive session on the Bombay Stock Exchange on the back of better-than expected results. On Tuesday, Satyam posted a net profit of Rs 1,605 million for the October-December 2008 - a period that saw the beginning of Satyam`s fall from grace - and a total income of Rs 23,272.1 million.
BSE Midcap and Smallcap index declined 0.22% and 0.90% respectively.
European stocks fell. Carnival fell almost 2.5% as oil climbed for a third day. UK`s benchmark index FTSE 100 rose 20.34 points, or 0.46%, to trade at 4,457.05. French benchmark index CAC 40 gained 7.51 points, or 0.23%, to trade at 3,322.31 and Germany`s benchmark index DAX climbed 31.82 points, or 0.63%, to trade at 5,083.04. (4.15 p.m., IST)
The Sensex ended the day with a loss of 55.34 points, or 0.36% at 15,411.47 after touching a high of 15,568.74 and a low of 15,240.73. The broad-based NSE Nifty declined 17.55 points, or 0.38% at 4,637.70 after hitting a high of 4,679.55 and a low of 4,586.15.
Major gainers in the 30-share index were Hindalco Industries (7.92%), Mahindra & Mahindra (6.18%), Sterlite Industries (India) (5.82%), HDFC Bank (3.85%), Tata Steel (2.90%), and Reliance Capital (2.66%).
On the other hand, Oil & Natural Gas Corporation (4.01%), Jaiprakash Associates (3.96%), ACC (3.84%), Bharat Heavy Electricals (3.46%), State Bank Of India(3.44%), and Infosys Technologies (2.87%) were the major losers in the Sensex.
Overall market breadth was negative. Out of the total 2,793 stocks traded at BSE, 967 advanced, 1,768 declined while 58 remained unchanged.