Sensex down 134 points to 1-1/2-week low on global sell-off

Sensex today down by over 134 points to end at 1-1/2-week low of 19,293.20.

Published: 18th March 2013 09:50 AM  |   Last Updated: 18th March 2013 06:50 PM   |  A+A-


Rekindling fears of fresh eurozone debt crisis after Mediterranean country Cyprus planned to tax bank deposits as a part of soverign bailout weighed on the global markets, sending the benchmark S&P BSE Sensex today down by over 134 points to end at 1-1/2-week low of 19,293.20.

Last weekend, cash-strapped Cyprus got nearly a USD 13 billion rescue package from international lenders but planned to impose a one-time levy on the money held in island's bank accounts as a part of a sovereign bailout, which created an uncertainty in the global financial markets.

Shares from metal, PSU, auto, realty and refinery sectors suffered the most while defensive stocks from FMCG and pharma segments attracted good buying support in an otherwise dull market.

Interest rates sensitive counters were at the receiving end ahead of the Reserve Bank of India's (RBI) monetary policy meet tomorrow. Finance Minister P Chidambaram today said that there is a case for the RBI to cut policy rates, and the central bank should take comfort from the government's efforts to cut the fiscal deficit.

The Bombay Stock Exchange 30-share barometer resumed sharply lower and moved in a narrow range in negative terrain throughout the day to settle at 19,293.20, revealing a fall of 134.36 points or 0.69 pct. Last Friday, it had slumped by 142.88 points or 0.73 pct.

The NSE 50-issue CNX Nifty also dropped by 37.35 points or 0.64 pct to more-than one-week low of 5,835.25.

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