Sensex closes below 16,000-mark amid growth worries (Round-up)

June 1st, 2012 - 7:00 pm ICT by IANS  

Sensex Mumbai, June 1 (IANS) A benchmark index for Indian equities markets Friday plunged 253 points to close below the 16,000-mark amid concerns over slowing economic growth and weak global cues.

Amid volatile trade, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,217.48 points, closed at 15,965.16 points — down 1.56 percent or 253.37 points from its previous close of 16,218.53 points.

The Sensex touched a high of 16,226.19 points intra-day and s low of 15,933.48. The midcap index of the BSE fell 86.32 points, while smallcap index closed 76.56 points down.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange was down 1.68 percent at 4,841.60 points.

Market sentiment was hurt by India’s economic growth that slumped to nine-year low of 5.3 percent in the fourth quarter of 2011-12. For the 2011-12 financial year, the growth dipped to 6.5 percent as compared to 8.4 percent in the previous year.

Weak Asian stocks and lower opening in Europe on disappointing Chinese manufacturing numbers and US data contributed further to the negative mood.

The market breadth was negative as 1,719 stocks declined while 828 scrips advanced.

The capital goods index was down by 2.99 percent followed by power index, down 2.49 percent, and automobile index, down by 2.71 percent.

Tata Motors was the top loser at the Sensex. It was down 3.73 percent at Rs.224.50.

Other main losers were Larsen and Toubro, down 3.22 percent at Rs.1,134.50; RIL, down 3.16 percent at Rs.683.70; Sterlite Inds, down 3.08 percent at Rs.91.20; Maruti Suzuki, down 2.94 percent at Rs.1,073.90; and ONGC, down 2.92 percent at Rs.246.30.

The only three Sensex gainers were Gail India, up 2.65 percent at Rs.331; ITC, up 1.54 percent at Rs.233.80; and Sun Pharma, up 0.24 percent at Rs.568.85.

In the Asian region, Japan’s Nikkei slumped by 0.74 percent, while Hong Kong’s Hang Seng by 0.74 percent.

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