Lowest Sensex close in 2013

Lowest Sensex close in 2013

Lowest Sensex close in 2013

Stock markets ended lower on Friday with the BSE Sensex closing for the seventh straight sessions and recording its lowest close in 2013 thus far and the losses were led by select bank, oil and gas shares. 

Scrips such as RIL, ONGC, Tata Motors, SBI and ICICI Bank, to mention a few, suffered sharp to moderate losses this day between 1-2 percent. 

The negative market impact was also on concerns over PSU disinvestment and reduction of promoters’ stake to meet Sebi- mandated minimum public shareholding of 25 per cent for private companies and 10 per cent for state-run firms that will result in surge of equity shares in the market over the next few months.

In the last seven sessions, Sensex has lost over 520 points due to a combination of profit-booking in bluechips, poor growth prospects and fiscal management worries. Analysts point out that the current losing trend is the Sensex's longest since November 2011. The MD of Kedia Securities, Vijay Kedia said: “Pre Budget party looks to be over. Sentiment is turning weak and the market may drift lower.”

The Sensex shed 95.55 points or 0.49 per cent to end at 19,484.77 points which is its lowest closing level since December 31, 2012.

The S&P CNX Nifty lost 35.30 points or 0.59 per cent to settle at 5,903.50, its lowest closing level from December 27, 2012. The Nikkei fell 1.8 percent on Friday to 11,153.16, snapping its longest weekly winning streak in 54 years by ending 0.3 percent down on the week. The benchmark also pulled further away from a 33-month high of 11,498.42 struck on Wednesday.

The euro hovered near a two-week low and European shares rose on Friday after the European Central Bank rekindled expectations that it could again take the knife to slice interest rates.