Press Esc to close
Saturday 07 May 2016
News updated at 12:12 AM IST
Weather
Max: 35.5°C
Min : 24.9°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
Lightning strikes across the sky above homes in south Walla Walla, Wash., Wednesday, May 4, 2016...

Lightning strikes across the sky above homes in south Walla Walla, Wash., Wednesday, May 4, 2016...

Labourers thrash paddy crop in a field on the outskirts of Ahmedabad...

Labourers thrash paddy crop in a field on the outskirts of Ahmedabad...

A youth blocks a road during a public curfew called by the Joint Committee on Inner Line Permit...

A youth blocks a road during a public curfew called by the Joint Committee on Inner Line Permit...

A security person with a sniffer dog inspect two crude bombs recovered near a polling boot...

A security person with a sniffer dog inspect two crude bombs recovered near a polling boot...

Students celebrate their success after announcement of ICSE board results in Patna on Friday...

Students celebrate their success after announcement of ICSE board results in Patna on Friday...

BSF men take out a march ahead of Assembly elections in Kozhikode on Friday...

BSF men take out a march ahead of Assembly elections in Kozhikode on Friday...

A collapsed pandal at Simhastha Mahakumbha Mela in Ujjain on Friday, a day after thunderstorm...

A collapsed pandal at Simhastha Mahakumbha Mela in Ujjain on Friday, a day after thunderstorm...

Jadavpur University Students chasing the car of film director Vivek Agnihotri to show him black...

Jadavpur University Students chasing the car of film director Vivek Agnihotri to show him black...

A Bicycle rider are struggle to move in water logged road at K R Circle during the heavy rain in...

A Bicycle rider are struggle to move in water logged road at K R Circle during the heavy rain in...

Mumbai Indians stars Kieron Pollard, Harbhajan Singh, Ricky Ponting and Rohit Sharma at Etihad...

Mumbai Indians stars Kieron Pollard, Harbhajan Singh, Ricky Ponting and Rohit Sharma at Etihad...