Markets End in Red; Snapped Six Day Rally

Markets ended the last day of the week marginally lower as investors booked profit after the benchmark indices surged 7% in six sessions of uninterrupted run. The benchmark Sensex re-captured the19K peak and touched a high of 19,032 in the opening session led by positive cues from the global bourses, but selling pressure seeped in, dragging the index to a low of 18,713. However, the index erased some losses in the afternoon session and ended at 18,762, down 83 points and the S&P CNX Nifty closed at 5,627, down 20 points. The markets clocked their second weekly gain, up 3%. Markets across Asia ended mostly higher as debt concerns over Greece took a back seat. Japan's Nikkei Stock Average climbed 0.5%, South Korea's Kospi gained 1.2%, and Hong Kong's Hang Seng added 1.5%. BSE Realty index was the top sectoral gainer, up 3%. Peninsula Land was up 5.1%, DLF gained 4.7% and Indiabulls Real Estate added 3.4%. BSE Oil & Gas index was down 1.8%. Oil Marketing Companies HPCL was off 1.6%, BPCL declined 0.6% and Indian Oil fell 0.1%. From the broader markets, the midcap and the small cap indices ended up 0.7% and 0.8% each. Top gainers on the Sensex were DLF, up 4.8%, Hindalco Industries advanced 3% and Reliance Communication gained 1.8%. Top losers on the Sensex were Reliance Industries, down 4%, Bharti Airtel declined 3% and Maruti Suzuki was off 2%. Market breadth was positive 1,700 stocks advanced for 1,152 stocks which declined.