Dismal start to trading week, Sensex dives 3.2 percent (Roundup)

March 2nd, 2009 - 6:36 pm ICT by IANS  

SensexMumbai, March 2 (IANS) Indian equities markets pulled down shutters in the red Monday as investors started offloading stocks both in Indian and global markets alike. A key index ended trade 3.2 percent below its previous close.
The 30-scrip Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 8,762.88 points, closed at 8,607.08 points, down 3.2 percent or 284.53 points from Friday’s close.

The S&P CNX Nifty of the National Stock Exchange (NSE) was at 2,674.6 points, 3.22 percent lower than its last close of 2,763.65 points.

The BSE midcap index closed 2.08 percent lower, while the BSE smallcap index was down 1.83 percent.

Of the 13 sectoral indices on the BSE, only the one for consumer durables stocks was in the green while all others turned negative.

The only gainer on the Sensex was Mahindra and Mahindra (up 2.58 percent at Rs.317.90).

Among the losers were Reliance Industries (down 9.12 percent at Rs.445.85), Tata Steel (down 7.54 percent at Rs.159.35), ICICI Bank (down 7.28 percent at Rs.304.20) and Reliance Communications (down 6.5 percent at Rs.145.35).

The overall market sentiment was negative with 1,636 stocks declining, 731 scrips advancing and 88 remaining unchanged.

Foreign institutional investors (FIIs) were net sellers, pulling out $67 million from the markets.

In Asian markets, the Hang Seng, a key index of the Hong Kong Stock Exchange, also shed 3.86 percent from its last close.

European markets were doing no better with the FTSE index in Britain ruling 3.3 percent below its last close.

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