Sensex slumps 143 points on weak economic numbers

June 1st, 2012 - 2:07 pm ICT by IANS  

Sensex Mumbai, June 1 (IANS) Indian equities markets benchmark indices slumped almost one percent in afternoon trade Friday as disappointing economic growth numbers and continued weakness in rupee dampened investors sentiments.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened almost flat at 16,217.48 points, was ruling at 16,075.92 points around noon, down 0.88 percent or 142.61 points from its previous close at 16,218.53 points.

The wider 50-scrip S&P; CNX Nifty of the National Stock Exchange was down 0.86 percent at 4,882.05 points.

Poor economic growth data has dampened investors’ sentiments at the market. India’s economic growth slumped to nine-year low of 5.3 percent in the fourth quarter of 2011-12. For whole 2011-12 financial year, the growth dipped to 6.5 percent as compared to 8.4 percent in the previous year.

There was selling pressure in IT, technology, oil and gas and power stocks. IT stock of the BSE was down almost two percent. Oil and gas stock was down 1.48 percent and power stock was down 1.48 percent.

Major Sensex losers included Jindal Steel, down 2.38 percent at Rs.430.95; Infosys, down 2.08 percent at Rs.2,389; Wipro, down 1.97 percent at Rs.401.50; and TCS, down 1.83 percent at Rs.1,223.00.

Only seven of the 30 Sensex scrips were in the positive. ITC was up 1.39 percent at Rs.233.45. Hindalco Inds was up 0.86 percent at Rs.117.70.

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