Sensex falls 126 points on weak rupee and global cues (Lead)

May 30th, 2012 - 6:43 pm ICT by IANS  

Sensex Mumbai, May 30 (IANS) A benchmark index for Indian equities markets fell over 126 points Wednesday as weakness in the rupee recurred. Automobile, consumer durables and realty stocks faced the brunt of intense selling.

Amid volatile trade, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,391.90 points, closed at 16,312.15 points — down 0.77 percent or 126.43 points from its previous close of 16,438.58 points.

The Sensex touched a high of 16,428.74 points and a low of 16,295.31 points intra-day. The midcap index of the BSE fell 76.58 points, while smallcap index closed 77.22 points down.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.79 percent lower at 4,950.75 points.

The sentiment was downbeat and market breadth was weak following a weaker rupee, which slipped below 56 against dollar, and negative global cues.

Brokers and analysts said the effect of a weakening rupee had a distinct effect on markets. Asian markets had closed in the red earlier and European stocks traded lower during the day.

The automobile index was down 3.97 percent followed by consumer durable index and realty index which fell 2.25 percent and 2.18 percent, respectively.

Tata Motors was the top loser at the Sensex and the Nifty. It was down 11.80 percent at Rs.243.35.

Other main losers were BHEL, down 3.05 percent at Rs.211.15; ICICI Bank, down 2.62 percent at Rs.817; DLF, down 2.53 percent at Rs.183.35; and Sterlite Inds, down 2.06 percent at Rs.95.25.

The major Sensex gainers were Sun Pharma, up 2.76 percent at Rs.581.25; Maruti Suzuki, up 2.12 percent at Rs.1,150.90; Tata Power, up 1.51 percent at Rs.94.35; Hindustan Unilever, up 1.10 percent at Rs.421.50; and Infosys, up 0.64 percent at Rs.2,422.45.

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