Sensex dips 286 points on weak rupee
Mumbai : A benchmark index of Indian equities markets tumbled 286 points or 1.47 percent Wednesday as institutional investors sold heavily amid rupee depreciation and upbeat US economic data.
Almost all the sectors were in red, except fast moving consumer goods (FMCG) and healthcare. Selling pressure was seen in banking index (bankex), oil and gas, capital goods, consumer durables, metal and public sector undertakings (PSU).
The 30-scrip sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 19,347.11 points, closed at 19,177.76 points, down 286.06 points or 1.47 percent from the previous day’s close at 19,463.82 points.
The Sensex touched a high of 19,347.11 points and a low of 19,147.31 points intra-day.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended 1.48 percent or 86.65 points down at 5,770.90 points.
The S&P BSE FMCG index went up by 17.00 points and healthcare index went up by 21.03 points; while bankex plunged by 309.18 points, oil and gas index dipped by 236.31 points, capital goods index plummeted by 229.27 points, metal index went down by 244.50 points, PSU index dropped by 190.30 points and consumer durables index slipped by 177.48 points.
There were only three Sensex gainers: Sun Pharma, up 1.25 percent at Rs.1,019.95; Jindal Steel, up 0.98 percent at Rs.216.10; and ITC, up 0.42 percent at Rs.326.30.
The major losers were: Tata Power, down 4.90 percent at Rs.82.50; State Bank of India, down 4.58 percent at Rs.1,899.60; Sterlite Industries, down 4.58 percent at Rs.84.30; Tata Steel, down 4.54 percent at Rs.269.35; Hindalco Industries, down 3.61 percent at Rs.98.85; and ONGC, down 3.48 percent at Rs.311.10.
Among the Asian markets, Nikkei was down by 0.31 percent, Hang Seng slipped by 2.48 percent, Shanghai Composite Index dropped by 0.61 percent and KOSPI fell 1.64 percent.
In Europe, the FTSE 100 was trading 1.66 percent down; Germany’s DAX Index was down by 1.70 percent and French CAC 40 Index was down by 1.72 percent.
Photo : AFP
