Weak global markets, Rupee pull Sensex 110 points down


Mumbai : A key Indian equities index Monday pared its intra-day losses to close 110 points lower as investors traded cautiously amid weak global cues and a continuing slide in the value of the rupee.

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Pressures on the United Progressive Alliance (UPA) government over the telecom airwaves case also dampened sentiments.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 16,209.19 points, and closed at 16,051.1 points, down 110.96 points or 0.69 percent against its previous close at 16,162.06 points.

It had slipped below the 16,000-mark and touched an intra-day low of 15,801.01 points, falling 361 points or 2.23 percent from its previous close.

The market breadth at the BSE was negative with 786 stocks advancing, 1,966 on the decline and 109 remaining unchanged. As many as 21 out of the 30 shares that constitute the Sensex basket ended in the red.

At the National Stock Exchange, the broader 50-share S&P CNX Nifty index also followed a similar trajectory and closed at 4,835.4 points, down 32.35 points, or 0.66 percent over the previous close.

Prominent Sensex gainers were Jaiprakash Associates, up 2.37 percent at Rs.69.10; Bharti Airtel, up 1.48 percent at Rs.380.40; ICICI Bank, up 1.4 percent at Rs.856.45; and DLF, up 1.21 percent at Rs.200.40.

Losers included: Coal India, down 5.46 percent at Rs.346.20; Sterlite Industries, down 4.4 percent at Rs.117.30; Hindalco, down 3.8 percent at Rs.129.05 and Hero MotoCorp, down 2.84 percent at Rs.1,979.80.

Concerns on the Euro zone debt crisis continued to push Asian investors into off-loading equities.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net sellers to the tune of $239.53 million.

Hong Kong’s Hang Seng index closed 1.48 percent down at 17,407.8 points, while the Chinese Shanghai Composite index ended 1.64 percent lower at 2,393.18 points.

The Japanese Nikkei closed at its lowest level in two-and-a-half years, 2.17 percent lower at 8,374.13 points.

European bourses were, however, on the rise amid speculation that the European central bank might intervene in the Euro zone debt crisis.

Britain’s FTSE was up 1.17 percent at 5,126.17 points, the German DAX was trading 3.41 percent higher at 5,373.54 points.

The French CAC 40 was ruling 3.34 percent up at 2,903.89 points.