Sensex falls to three-and-half month low
November 18th, 2011 - 8:38 pm ICT by IANS
Mumbai, Nov 18 (IANS) A benchmark index for Indian equities markets Friday fell for the seventh straight day, closing at a three-and-half month low as concerns about the European debt crisis continued to plague investors.
Also, the rupee falling to its biggest weekly loss in eight weeks to 51.33 a dollar spooked traders.
The 30-scrip sensitive index (Sensex) of the BSE, which opened lower at 16,387.7 points, closed at 16,371.51 points — down 90.2 points or 0.55 percent from its previous close at 16,461.71 points.
The 50-scrip S&P; CNX Nifty of the National Stock Exchange also ended in the red, 28.95 points or 0.59 percent lower at 4,905.8 points.
Broader markets also closed in the negative, with the BSE 500 index closing 0.64 percent down. The BSE midcap index shed 1.03 percent, while the BSE smallcap index fell 1.9 percent.
The market breadth at the BSE was negative with 882 stocks advancing and 1,989 scrips declining. Another 108 remained unchanged.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net sellers Friday to the tune of $31.69 million.
Among gainers on the 30-scrip Sensex were: Hero MotoCorp, up 3.05 percent at Rs.2,184.15; Tata Power, up 2.42 percent at Rs.97.45; Wipro, up 1.88 percent at Rs.374.55 and HDFC, up 1.34 percent at Rs.643.35.
Losers on the benchmark included: M&M;, down 2.74 percent at Rs.737.80; ITC, down 2.46 percent at Rs.202.15; TCS, down 2.24 percent at Rs.1,088.05 and Coal India, down 2.2 percent at Rs.298.30.
Asian markets stocks were ruling lower as fears of the European debt crisis and the sluggish growth in the region continued to weigh on investors.
Concerns about debt-ridden countries able to pay back creditors overshadowed the release of positive economic data from the US which showed the manufacturing sector registering growth after many months.
The Japanese Nikkei closed 1.23 percent down at 8,374.91 points, while Hong Kong’s Hang Seng shed 1.73 percent lower at 18,491.23 points.
The Chinese Shanghai composite index closed 1.89 percent lower at 2,416.56 points.
European markets were ruling subdued. Britain’s FTSE was ruling 0.42 percent lower at 5,400.32 points and the German DAX was trading 0.4 percent up at 5,873.66 points.
The French CAC 40 was ruling 0.25 percent up at 3,017.79 points.
- Sensex plunges 425 points to end below 16,000 points - Nov 21, 2011
- Sensex rallies 315 points as RBI hints at no more hikes - Oct 25, 2011
- Sensex closes lower for fifth straight day - Nov 16, 2011
- Sensex hits six-week low on European debt woes - Nov 17, 2011
- Day after rally, Sensex takes a breather - Sep 28, 2011
- Weak global markets, Rupee pull Sensex 110 points down - Sep 26, 2011
- Sensex closes 309 points lower on grim global cues (Roundup) - Jul 12, 2011
- Ahead of monetary policy review, Sensex closes dull - Dec 15, 2011
- Sensex closes 85 points up, Bharti drags (Roundup) - Feb 08, 2012
- Sensex closes 108 points down, mid, small scrips lose heavily - Aug 16, 2011
- Sensex closes 244 points down, manages 1.8 percent in weekly gains - Sep 30, 2011
- Late rally helps Sensex move up 147 points (Roundup) - Jul 19, 2011
- IT stocks drag Sensex 138 points lower (Roundup) - Jan 12, 2012
- After rate hike, Sensex continues downtrend (Roundup) - Jul 27, 2011
- Sensex pares some losses, closes 148 points down - Oct 20, 2011
Tags: asian markets, benchmark index, bse, coal india, debt crisis, exchange board, foreign institutional investors, hdfc, manufacturing sector, market breadth, midcap index, national stock exchange, rs 2, sebi, securities and exchange board of india, sensitive index, sluggish growth, smallcap index, tata power, wipro