Thaindian News

Mumbai, Nov 21 (IANS) A benchmark index for Indian equities markets fell below the psychologically important 16,000 mark Monday for the first time in one and a half months as the European debt crisis and a falling rupee weighed on investors.

The 30-scrip sensitive index (Sensex) of the BSE, which opened lower at 16,297.03 points, closed at 15,946.1, down 2.6 percent or 425.41 points, from its previous close at 16,371.51.

The Sensex touched an intra-day high of 16,297.03 points and fell to a low of 15,900.30 points. The 30-scrip benchmark had last closed below 16,000 on Oct 5 at 15,792.41 points.

At the National Stock Exchange, the 50-scrip S&P; CNX Nifty also fell 2.6 percent or 127.45 points to close at 4,778.35 points.

The rupee fell below 52 to a dollar, the lowest since March 2009, stoking fears that it may result in inflation soaring again as it would make oil imports costlier.

Both benchmarks had lost about 5 percent last week as the European debt crisis continued to plague Indian investors.

Broader markets as well as all the sectoral indices closed in the red with metal, banking and realty stocks losing the most.

Metal index of the BSE slumped 3.46 percent. Banking and realty indices also lost over 3 percent.

The BSE 500 index closed 2.34 percent down, while the BSE midcap index ended 1.86 percent lower.

The market breadth at the BSE was negative with 786 stocks advancing, 1,974 on the decline and 135 remaining unchanged.

There were only two gainers on the 30-scrip Sensex: Maruti Suzuki, up 0.2 percent at Rs.942.60 and Sun Pharma, up 0.14 percent at Rs.498.35.

Losers on the benchmark included: Tata Motors, down 5.2 percent at Rs.161.45; ICICI Bank, down 4.9 percent at Rs.732.45; DLF, down 4.23 percent at Rs.195.70 and SBI, down 3.04 percent at Rs.1,673.05.

Asian markets closed lower as investors remained unconvinced over an early resolution to the European debt crisis indicating doubts over the ability of political leaders in the zone.

The Japanese Nikkei closed 0.32 percent down at 8,348.27 points, while Hong Kong’s Hang Seng ended 1.44 percent lower at 18,225.85 points.

The Chinese Shanghai composite index closed flat at 2,415.13 points.

European markets too were in the red with the debt crisis continuing to plague traders.

Britain’s FTSE was ruling 2 percent lower at 5,255.56 points and the German DAX was trading 2.62 percent down at 5,648.22 points.

The French CAC 40 was ruling 2.49 percent down at 2,922.38 points.