By IANS,
Mumbai : Rampant selling across the Indian equities markets Monday resulted in a benchmark index getting clobbered and ending trade 467 points lower with analysts attributing the down-trend to off-loading by foreign investors.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,714.42 points, closed at 19,224.12 points, down 467.69 points or 2.38 percent from its previous close at 19,691.81 points.
In the past two trading sessions, the Sensex has lost almost 1,000 points as fears persist of a rate hike by the Reserve Bank of India to curb rising inflation.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty ended at 5,762.85 points, down 2.4 percent or 141.75 points.
Broader markets were also in the negative, with the BSE midcap index ending 2.34 percent lower and the BSE smallcap index closing 2.83 percent down.
Realty, capital goods, and consumer durables stocks were among the major losing sectors on the markets. All 13 sectoral indices on the BSE closed in the red.
The market breadth was negative, with 648 stocks advancing, compared to 2,233 scrips on the decline, while 122 stocks were unchanged.
There were only two gainers on the Sensex: Infosys, up 0.9 percent at Rs.3,396.65, and Bharti Airtel, up 0.04 percent at Rs.338.35.
Top Sensex losers included HDFC Bank, down 5 percent at Rs.2,154.90; BHEL, down 4.76 percent at Rs.2,181.50; HDFC, down 4.44 percent at Rs.653.60; and Hindalco Industries, down 4.44 percent at Rs.222.80.
According to data available with SEBI, foreign institutional investors sold scrips worth $212.60 million Monday.
Asian stock markets were trading in the red Monday as the weekly jobs data from the US came in weaker-than-expected, resulting in a tumble at Wall Street.
The Japanese markets were closed.
The Chinese Shanghai Composite index moved 1.66 percent lower at 2,791.81 points, while Hong Kong’s Hang Seng was sluggish, closing 0.67 percent down at 23,527.26 points.
In Bangladesh, angry investors took to the streets, vandalising public property after benchmark index of the Dhaka Stock Exchange plummeted 660 points, or 9.25 percent, in less than an hour. The index had fallen about 6.7 in Sunday trading.
European bourses fell over sovereign debt problems in some of the euro zone countires.
Reports that France and Germany were putting pressure on Portugal to accept a bailout package from the European Union and the International Monetary Fund also spooked traders.
Around mid-day, the German DAX was ruling 0.54 percent lower at 6,894.44 points, while the French CAC 40 was trading 1.43 percent down at 3,810.42 points.
The UK’s FTSE was ruling 0.54 percent lower at 5,951.89 points.