Sensex slides 127 points on poor industrial show (Lead)

May 11th, 2012 - 7:16 pm ICT by IANS  

Sensex Mumbai, May 11 (IANS) A benchmark index for Indian equities markets fell for the fourth straight day Friday, shedding over 127 points, to close below 17,000 on poor industrial output data that indicated a slowdown in the economy and continuing global concerns.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) ended the day at 16,292.98, down 0.77 percent or 127.07 points from its previous close at 16,420.05.

The Sensex touched a high of 16,447.24 points and low of 16,233.76 points in intra-day trade. The midcap index was down 49.61 points and smallcap index fell by 58.82 points.

The wide-based 50-scrip S&P; CNX Nifty of the National Stock Exchange was also down 0.74 percent at 4,928.90 points.

Official data released during the day showed a 3.5 percent contraction in the Index of Industrial Production (IIP) for March as against 4.1 percent in February. Capital goods, mining and manufacturing sectors came in negative.

Global markets were also under pressure after US trade deficit widened and concern persisted over the political developments in Greece.

Among the sectoral indices, the BSE auto index was up by 56.82 points while banking was up by 1.82 points.

The realty index declined by 5.61 points, while that of oil and gas index by 37.15 points and capital goods index by 36.54 points.

Among the major losers were Tata Power which was down by 4.89 percent at Rs.92.45. The Sun Pharma scrip fell 3.87 percent at Rs.569.7 and Hindalco was down 3.32 percent at Rs.113.50.

Other Sensex losers included Coal India, down 2.21 percent at Rs.314.45, Maruti Suzuki, down 2.10 percent at Rs.1234, ITC, down 2.07 percent at Rs.233.8, Cipla, down 2.04 percent at Rs.318.9, ONGC, down 1.89 percent at Rs.254.65.

Only eight of the 30 Sensex scrips ended in the positive terrain.

These were Bajaj Auto, up 3.48 percent at Rs.1,555.2o, Tata Motors, up 2.66 percent at Rs.297.4, BHEL, up 0.84 percent at Rs.221.15, DLF up 0.59 percent at Rs.187.20, State Bank of India, up 0.46 percent at Rs.1,852.2, RIL, up 0.38 percent at Rs.697.3, Hero MotoCorp, up 0.02 percent at Rs.1,843.30, ICICI Bank, up 0.02 percent at Rs.812.95.

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