Sensex dips below 17k after 3-wks; loses 236 pts

Sensex dips below 17k after 3-wks; loses 236 pts

The Sensex, which had lost over 450 points in the previous three sessions, fell further by 236.07 points, or 1.38 per cent to 16,882.67. The gauge fell below the 17,000 level after October 24.

On the similar lines, the broad-based NSE index Nifty slipped below the 5,100 mark, losing 79.85 points or 1.55 per cent to 5,068.50.

A weak trend in the Asian region and lower openings in Europe due to lingering doubts over the euro-zone debt crisis dampened the trading sentiment.

Brokers said below-expectation quarterly earnings by some leading companies and fears of high inflation keeping interest rates high remained major investor issues.

The decline was led by financial and interest sensitive stocks such as realty, auto and capital goods.

Two most heaviest counters, with 20 per cent weight on the Sensex - Reliance Industries and Infosys - fell sharply on brisk selling. RIL tumbled 1.42 per cent and Infosys by 0.57 per cent.

Other losers included Bajaj Auto, DLF, HeroMotorCo, ICICI Bank, L&T, M&M, Maruti, SBI, Tata Steel and BHEL.

The realty sector index suffered the most by losing 5.22 per cent to 1,671.28, followed by capital goods index by 2.77 per cent to 10,208.85. Banking index lost 2.02 per cent to 10,436.22 and auto index by 1.65 per cent to 8,808.55.

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