Sensex closes 160 points down on low GDP report

A benchmark index of Indian equities markets Friday closed 160 points lower as fresh data showed India’s gross domestic product (GDP) grew at a much slower pace of 5.5 percent in the first quarter of the current fiscal. Metal, realty and auto scrips were the worst hit.

The 30-scrip sensitive index (Sensex) of the BSE, which opened at 17,557.62 points, closed provisionally at 17,380.75 points, 0.92 percent or 160.89 points down from its previous day’s close at 17,541.64 points.

The Sensex touched a high of 17,557.62 and a low of 17,337.61 in intra-day trade.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange was ruling 1.06 percent or 56.55 points down at 5,258.50 points.

All the sectoral indices of the BSE closed in the red.

The main Sensex losers included Hindalco Inds, down 2.35 percent at Rs.103.75; Coal India, down 2.15 percent at Rs.352.75; BHEL, down 2.10 percent at Rs.214.35; Hero MotoCorp, down 2.02 percent at Rs.1,788.10; and Sterlite Inds, down 1.99 percent at Rs.96.20.

Only five companies out of 30 sensitive Sensex were gainers. These were Cipla, up 1.64 percent at Rs.378.15; HDFC, up 1.31 percent at Rs.733.35; Bharti Airtel, up 1.22 percent at Rs.245.70; State Bank of India (SBI), up 0.26 percent at Rs.1,845.00; and ONGC, up 0.16 percent at Rs.276.15.

Other Asian markets also closed lower. Japan’s Nikkei closed 1.60 percent down while Shanghai’s composite index ended 0.25 percent lower. Hong Kong’s Hang Seng closed 0.36 percent down.

European markets were, however, trading higher. France’s CAC was up 1.33 percent and so was Germany’s DAX, up by 1.34 percent. Britain’s FTSE 100 was up 0.53 percent.