Sensex falls 59 points as bearish mood prevails (Lead)

May 10th, 2012 - 8:01 pm ICT by IANS  

Sensex Mumbai, May 10 (IANS) Benchmark indices of Indian equities fell for the third day Thursday as concern over European economies and the depreciating rupee weighed on the markets. Metals, auto and power stocks came under intense selling pressure on heavy funds outflow.

Amid volatile trade, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened in the positive at 16,515.62 points, closed at 16,420.05 points, down by 0.36 percent or 59.53 points from its previous close of 16,479.58 points.

The Sensex touched a high of 16,671.81 points and a low of 16,377.02 points in the intra-day. The midcap index of BSE rose 3.82 points, while smallcap index closed 15.76 points down.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange closed 0.18 percent down at 4,965.70 points.

Market participants and analysts said trading was in the negative zone as uncertainty prevailed over the Greece bailout and the Indian rupee extended losses. The sentiment was also bearish in European markets.

The banking index fell 1.89 percent. State Bank of India, the country’s largest lender, slumped 3.64 percent at Rs.1,887.60. ICICI Bank fell 1.02 percent at Rs.821.80 and HDFC Bank declined 0.58 percent at Rs.512.45.

The metals index fell 1.02 percent, auto index declined 0.89 percent and power index closed 0.75 percent down.

Major Sensex losers included Maruti Suzuki, down 3.18 percent at Rs.1,260.50, Jindal Steel, down 2.68 percent at Rs.458.05, State Bank of India (SBI), down 2.32 percent at Rs.1,843.75, Hero MotoCorp, down 1.53 percent at Rs.1,842.85 and Coal India, down 1.50 percent at Rs.321.55.

Prominent Sensex gainers included: DLF, up 2.25 percent at Rs.186.20, BHEL, up 1.46 percent at Rs.219.30, ONGC, up 1.27 percent at Rs.259.55, Mahindra and Mahindra, up 0.93 percent at Rs.661.25 and Cipla, up 0.91 percent at Rs.325.55.

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