Sensex plummets in late trade, closes 346 points down (Lead)

December 16th, 2011 - 5:20 pm ICT by IANS  

Sensex Mumbai, Dec 16 (IANS) A benchmark index for Indian equities Friday plummeted in late trade and provisionally closed 346 points lower. Capital goods, realty and banking stocks were among the biggest losers.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,868.78 points, closed at 15,490.35 points (provisional), 346.12 points or 2.19 percent, from its previous close at 15,836.47 points.

The Sensex had risen more than 232 points during the day.

The 50-scrip S&P; CNX Nifty of the National Stock Exchange also fell sharply and closed at 4,646.35 points, down 2.11 percent or 100 points from its previous close.

Profit booking was also seen in stocks which rose in anticipation of the Reserve Bank of India not hiking interest rates. As expected, the apex bank in its mid-quarterly review of the monetary policy decided to maintain the status quo on key interest rates.

The central bank also indicated that it would from this point onward look at easing interest rates as inflation had started declining and was expected to moderate to 7 percent by end-March.

Broader markets also ended in the red with the BSE 500 index slipping 1.96 percent. The BSE midcap index was trading 1.69 percent lower while the BSE smallcap index moved down 1.68 percent.

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