Sensex continues to decline for 4th day, drops 81 points
The S&P BSE Sensex continued to fall for the fourth consecutive day, declining another 81 points to 20,741.67 in late morning trade today on persistent selling in consumer durable, banking, refinery and realty sectors, triggered by overseas weakness.
The BSE-30 share index, Sensex, resumed lower at 20,785.20 and dropped further to 20,645.64 before quoting at 20,741.67 points at 1030 hrs, showing a loss of 81.10 points, or 0.39 per cent, from its last close.
The NSE 50-share barometer Nifty also moved down by 27.80 points, or 0.45 per cent, to 6,159.45 at 1030 hrs.
Major losers were - HDFC (2.16 per cent), ONGC (1.38 per cent), Gail India (1.32 per cent), Maruti Suzuki (1.17 per cent) and TCS (1.13 per cent).
Asian stocks fell in their early trade after faster US economic growth fuelled concern that the Federal Reserve may reduce monetary stimulus for the American economy sooner than expected.
Key benchmark indices in Singapore, China, Japan, Hong Kong, Taiwan, Indonesia and South Korea shed 0.3 to 1.06 per cent.
US stocks tumbled yesterday as speculation the Federal Reserve may scale back stimulus amid faster-than-estimated economic growth overshadowed a move by the European Central Bank to cut a key interest rate.
Meanwhile, foreign institutional investors continued theirbuying spree by investing net Rs 479.24 crore yesterday, as per the provisional data issued by stock exchanges.