Sensex ends near 5-week low, down by 223 points

BSE 30-share barometer resumed sharply lower and remained in negative terrain throughout the day to settle at 18,209.52.
Continued offloading of stocks by funds and retail investors after the RBI rate hike dampened the trading sentiment. (File/PTI)
Continued offloading of stocks by funds and retail investors after the RBI rate hike dampened the trading sentiment. (File/PTI)
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MUMBAI: Heavy selling in top heavyweights on the last day of July series pulled the benchmark sensex down for the third straight day by a whopping 223 points to close at nearly 5-week low of 18,209.52, despite further fall in food inflation.

Metal, realty, refinery, IT and Banking counters suffered a sharp setback. Weak global cues and lack of major surrport from the main market movers, Foreign Institutional Investors (FIIs) also dampened the sentiment.

Global turmoil due to US debt tensions and weaker-than- expected US economic data overnight amid concerns over rising key interest rates at home too affected the market mood.

The Bombay Stock Exchange 30-share barometer resumed sharply lower and remained in negative terrain throughout the day to settle at 18,209.52, level not seen since June 23, 2011, exhibiting a net fall of 222.73 points or 1.21 per cent.

In straight three sessions, it has tumbled by 661.71 points or 3.51 per cent.

The broad-based NSE 50-issue Nifty also plunged by 59.05 points or 1.06 per cent to end below 5,500-mark after June 24, 2011 at 5,487.75.

Top heavyweight and petro-chem giant, Reliance Industries (RIL) was the major contributor to the sensex fall. The share fell by 2.71 per cent, completing three-day losing string.

Drop in RIL, HDFC Bank, Infosys Tech, HDFC, SBI, TCS, L&T, ICICI Bank, Jindal Steel, Tata Steel, sterlite Ind and Hindalco together contributed over 200 points fall the sensex.

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