Indian shares fall as L&T results disappoint

Mumbai: A benchmark index for Indian equities closed 151 points lower yesterday, bogged down by lower than expected results from heavyweight L&T. Dull Asian cues too dampened sentiments here.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,975.79, closed at 16,785.64, down 151.25 points or 0.89 per cent from its previous close at 16,936.89.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended lower, 0.82 per cent or 41.95 points down at 5,049.95.

Broader markets also edged lower with the BSE 500 index closing 0.84 per cent down. The BSE midcap index closed 0.68 per cent lower, while the BSE smallcap index ended 0.6 per cent down.

The market breadth was negative with 1,112 stocks rising, 1,682 falling and 126 unchanged. According to data from the Securities and Exchange Board of India (SEBI), foreign investors were net sellers to the tune of $86.69 million.

"Markets ended in the red largely due to concerns on Europe.

"Germany and France have said that Eurozone leaders will approve a rescue plan only by next Wednesday at the latest, instead of Sunday, as earlier envisaged," said Dipen Shah of Kotak Securities.