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Markets take a plunge for third day
The BSE Sensex dived for a third straight session on Monday to hit an over two-week low as investors cut down exposure after India\'s factory output fell in April amid continued global sell-off on growing anxiety over the future of Britain in the European Union.
Sensex sheds 239 points, Nifty tumbled closes at 8,111
Mumbai : The BSE Sensex dived for a third straight session on Monday to hit an over two-week low as investors cut down exposure after India's factory output fell in April amid continued global sell-off on growing anxiety over the future of Britain in the European Union.
Moreover, the rupee again breaching the 67-level against the dollar, weighed on the trading sentiment. Mid-cap and small-cap indices fell 0.50 per cent and 0.45 per cent, respectively, on sustained selling pressure from retail investors.
The Government data on Friday showed that industrial output contracted 0.8 per cent in April, the first decline in three months, due to drastic fall in capital goods production. Participants also took a cautious line ahead of the release of consumer inflation data.
The global markets also continued to fall on renewed worries over the fate of Britain in the European Union, as also upcoming meetings of central banks in the US and Japan.
The BSE Sensex stayed in the negative zone through out the day and touched a low of 26,262.27, before winding up 238.98 points or 0.90 per cent down at 26,396.77, its weakest closing since May 26.
The index had fallen by 384.91 points in the previous two sessions. The 50-issue NSE Nifty tumbled 59.45 points or 0.73 per cent to close 8,110.60, after cracking below the 8100-level to hit a low of 8,063.90.
ICICI Bank suffered the most by diving 3.38 per cent to Rs 244.10, followed Tata Steel at 3.33 per cent to Rs 323.80. In the regional markets, Japanese stocks led the decline by diving 3.51 per cent to a two-month low in Asian equities as rally in the yen hammered exporters.
Of the 30-share Sensex pack, 21 scrips ended lower. Major losers included Tata Motors 2.83 per cent, Bhel (2.67 per cent), Bharti Airtel (2.52 pct), ONGC (2.16 per cent), SBI (1.94 per cent), HDFC (1.91 per cent), Axis Bank (1.80 per cent), NTPC (1.59 per cent), Larsen (1.49 per cent), Cipla (1.48 per cent) and M&M (1.26 per cent).
However, Lupin rose by 1.12 per cent, followed by Dr Reddy's (0.70 per cent), Sun Pharma (0.60 per cent) and GAIL (0.49 per cent). Among the BSE sectoral indices, realty fell by 1.32 per cent, followed by infra 1.31 per cent, banking 1.29 per cent, capital goods 1.17 per cent, power 1.17 per cent, metal 1.09 per cent and auto 0.96 per cent.
