Sensex down by 34 points

Sensex down by 34 points

Sensex down by 34 points

The BSE benchmark index, Sensex, today fell by 34 points on selling pressure due to concerns over slowing economic growth, amid a weakening global trend.

The 30share Sensex ended the day at 15,814.72, lower by 34.08 points from its last close, after moving in the range between 15,871.51 and 15,678.30 points.

Broad-based National Stock Exchange index Nifty was down by 4.10 points at 4,742.80 at close.

Brokers said trading sentiment turned bearish after Prime Minister Manmohan Singh's statement yesterday that economic growth in the current fiscal would be 7 per cent, down from 8.5 per cent a year ago.

A mixed trend in the Asian region and lower opening in Europe further influenced the market sentiment.

Reliance Industries, heaviest among the Sensex stocks, fell by 1.08 per cent to Rs 706.95. Second-heaviest Infosys lost 0.05 per ent to close Rs 2,836.20. The two carry nearly 20 per cent weight on benchmark Sensex.

State-run State Bank of lost 1.92 per cent to end the day Rs 1,637.75 on fears of bad loans increasing in the banking segment.

The oil and gas sector index suffered the most by losing 0.71 per cent to settle at 7,626.55, followed by auto index by 0.47 per cent to 8,134.43. The FMCG index fell by 0.34 per cent to 4,009.62 and IT index by 0.10 per cent to 5,881.80.