Press Esc to close
Monday 16 January 2017
News updated at 10:35 PM IST
Weather
Max: 27.6°C
Min : 15.5°C
In Bengaluru
Sunny day

Weak Re, growth concerns drag Sensex down by 245 pts

Mumbai, July 30, 2013, PTI
Reuters  file photo.
The BSE benchmark Sensex today plunged by 245 points, extending losses for the fifth straight session, on heavy selling in oil&gas, power, PSU and auto stocks after RBI lowered its GDP forecast and kept interest rates unchanged, amid rupee again falling below the 60-mark.

With almost six out of ten stocks ending up as losers on the BSE, wiping out Rs 1.1 lakh crore in investor wealth. 12 out of 13 sectoral indices closed down amid hectic selling.
After a better start, Sensex tumbled by 244.94 poins, or 1.25 per cent to end at a nearly three-week low of 19,348.34. The gauge has now lost over 950 points in five days.
Similarly, the broad-based National Stock Exchange index Nifty dipped below of crucial 5,800 level to end with a loss of 76.60 points, or 1.31 per cent, at 5,755.05. Also, SX40 index, the flagship index of MCX-SX, closed 139.03 points down, or 1.19 per cent, at 11,556.55.

"The buying interest seen after the RBI policy turned out to be a rather trap zone because markets dived down for rest of the day. The selling was broad based with Oil & Gas firms getting badly impacted due to more than 1.5 per cent rise in USD/INR. RBI did not announce any major steps to control rupee," said Nagji K Rita, CMD, Inventure Growth & Securities.

Brokers said the RBI projections of a lower GDP growth at 5.5 per cent from earlier estimates of 5.7 per cent for the current fiscal in its quarterly monetary policy, also dampened the trading sentiment.

Rupee fell below 60-level to a dollar after around three weeks and was last trading at 60.36, down 1.59 per cent.

In 30-share Sensex pack, 22 stocks closed with losses led by Reliance Industries, Hindalco Industries, GAIL India, Bharti Airtel, Bajaj Auto, ONGC, State Bank of India, ICICI Bank, HDFC Bank, BHEL and Hindustan Unilever.

Oil and gas sector index suffered the most falling 3.89 per cent, followed by Realty index down 3.60 per cent, Power index by 3.35 per cent and auto index by 2.05 per cent.
"Amongst major earnings, Dr Reddy's results disappointed with profits. NTPC too disappointed with revenue down inspite of lower fuel costs," said Bonanza Portfolio Associate Fund Manager Hiren Dhakan.

 

Go to Top

Photo Gallery
London Olympics bronze medallist grappler Yogeshwar Dutt during his wedding procession at his ...

London Olympics bronze medallist grappler Yogeshwar Dutt during his wedding procession at his ...

German Chancellor Angela Merkel, right, and the Prime Minister of New Zealand Bill English, left ...

German Chancellor Angela Merkel, right, and the Prime Minister of New Zealand Bill English, left ...

In this photo taken Thursday, Dec. 22, 2016, Kenyan artist Evans Yegon displays one of his paintings

In this photo taken Thursday, Dec. 22, 2016, Kenyan artist Evans Yegon displays one of his paintings

BJP President Amit Shah welcomes former Congress leader Yashpal Arya after he was inducted into BJP

BJP President Amit Shah welcomes former Congress leader Yashpal Arya after he was inducted into BJP

People walk under their umbrellas on snow covered road after fresh heavy snowfall in Shimla on ...

People walk under their umbrellas on snow covered road after fresh heavy snowfall in Shimla on ...

A camel performs during the ongoing 24th International Camel Festival in Bikaner on Sunday...

A camel performs during the ongoing 24th International Camel Festival in Bikaner on Sunday...

Art lovers thronging Chitra Santhe organised by Karnataka Chitrakala Parishat on Kumara Krupa...

Art lovers thronging Chitra Santhe organised by Karnataka Chitrakala Parishat on Kumara Krupa...

Large number of art lovers visiting the 14th annual art fair 'Chitra Sante' organized...

Large number of art lovers visiting the 14th annual art fair 'Chitra Sante' organized...

A large number of tourists throng Mysuru Palace as weekend holidays and Mysuru Zoo remain closed...

A large number of tourists throng Mysuru Palace as weekend holidays and Mysuru Zoo remain closed...

People walk on a snow covered road following heavy snowfall at Kandi Area in Budhal, Rajouri...

People walk on a snow covered road following heavy snowfall at Kandi Area in Budhal, Rajouri...

Like us on Facebook

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523