Sensex drops to 3-week low

Sensex drops to 3-week low

Extending losses for third successive day, BSE 30-share Sensex closed down by 115.35 points, or 0.64 per cent, to 17,870.53. In three days of straight losses, the key index has lost 438.35 points.

The 50-share Nifty of NSE also fell by 30.35 points or 0.56 per cent to 5,366.40 from its last close. Most Asian stocks ended lower as investors stayed cautious about developments in Eurozone, offsetting the effect of a rebound in the US stocks. Key benchmark indices in Japan, China, Indonesia, Hong Kong, Singapore, South Korea and Taiwan lost between 0.21 per cent to 1.17 per cent.

The market breadth at BSE continued to remain negative, with 1,946 stocks finishing with losses and 957 closing in green. Total turnover declined to Rs 2,691.58 crore from Rs 2,775.38 crore previously.

European stock markets remained under pressure in the early trade, as concerns over Greece continued to weigh on investors.

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