Sensex dips 285 pts on DMK pullout

Sensex dips 285 pts on DMK pullout

Domestic equities fell for the third straight trading session on Tuesday amid political uncertainty caused by DMK's decision to withdraw support to the ruling Congress-led UPA government at the Centre citing differences on the issue of atrocities on Tamils in Sri Lanka.

That apart, the 2G trial court summoning Bharti Airtel founder Sunil Mittal in the additional spectrum allocation case also dampened investor sentiment in D-Street.  Also, the RBI guidance in its mid-quarter review this morning stated that "the headroom for further monetary easing remains quite limited" added to the bearish mood besides the downtrend in global markets. 

The popular Sensex at BSE lost 285.10 points or 1.48 percent to settle at 19,008.10, its lowest closing level since March 4, 2013. The index lost 353.73 points at the day's low in early afternoon trade and gained 85.41 points at the day's high at the onset of the trading session, its highest level since March 15, 2013.

The 50-unit CNX Nifty at NSE lost 89.30 points or 1.53 percent to settle at 5,745.95, its lowest closing level from March 4, 2013. The index hit a low of 5,724.30 and a high of 5,863.60 in intraday trade.

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