Indian stocks on Friday survived atsunami scare with the BSE benchmark Sensex recouping to someextent day's sharp losses but still ended with a loss of 154points.
Global equity markets plunged after 33-foot tsunami inJapan caused untold damages and panic-striken investors,already worried about boiling unrest in the Middle-East andSpain debt crisis, resorted to hectic selling.
Japanese benchmark index Nikkei closed down 1.72 percent, the Chinese Shanghai Composite by 0.73 per cent, andHong Kong's Hang Seng by 1.55 per cent. Singapore's StraitTimes closed lower 1.04 per cent.
The tremors of Japan earthquake were felt across Europeanbourses which were trading lower between 0.39 per cent and0.92 per cent in their afternoon deals.
Tracking global indices, the 30-share
Sensex tooplummeted to 18,000-level, a steep loss of of over 305 pointsfrom day's high levels.
Markets recouped after the government dispelled thepossibilities of tsunami hitting the Indian shores.
The Sensex finally settled the day at 18,174.09 points,down 153.89 points from its previous close.
The NSE 50-issue Nifty also dropped by 48.95 points or0.89 per cent to 5,445.45.
A leading analyst warned that the economic impact of sucha natural calamity is yet to be assessed and such assessmentmay give fresh trigger to the markets.
Meanwhile, reports of industrial growth slowing down to3.7 per cent in January 2011, against 16.8 per cent in theyear-ago period, too weighed on the market mood.
The markets were already struggling after the escalationof violence in Libya and protests in Saudi Arabia fuelingfears of a spike in oil prices that would undermine the globaleconomic growth.
Eleven of the 13 sectoral indices fell with the BSE metallosing the most. The metal index closed lower by 1.91 percent, the teck index by 1.61 per cent and the BSE-IT by 1.49per cent.
Overall, 25 out of 30 index-based scrips declined whileothers gained. BHEL dipped by 3.64 per cent, the REL Com by3.46 per cent, REL Infra by 3.19 per cent, Sterlite Ind by3.06 per cent, Jaipra Asso by 2.90 per cent and TCS by 2.48per cent.
Bharti Airtel fell by 2.08 per cent, Bajaj Auto by 2.02per cent, M&M by 1.75 per cent and Hindalco by 1.65 per cent.
Foreign Institutional Investors (FIIs) turned net sellersas they sold shares worth Rs 97.19 crore yesterday as perprovisional data after pulling out Rs 37.10 crore on March 10.
The total market breadth remained negative as 1,928shares ended with losses and 924 finished with gains at BSE.
The total market turnover shot up to Rs 4,010.48 crorefrom Rs 2,995.69 crore yesterday.
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