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Market extends losses for 3rd week, Sensex down 27 points

PTI  Mumbai, February 16, 2013
First Published: 14:51 IST(16/2/2013) | Last Updated: 14:58 IST(16/2/2013)

Stocks The BSE benchmark Sensex extended losses for the third consecutive week by slipping 27 points to end at 19,468.15 due to persistent selling pressure from operators in view of fall in industrial output and rise in retail inflation.


Dismal corporate earnings by some bluechip companies also dented the market sentiment.

Shares of realty, capital goods, power, metal and consumer durable declined sharply on heavy selling pressure.

Growth in industrial output contracted by 0.6% in December mainly due to muted activities in manufacturing and mining sectors. Retail inflation remained in double digits at 10.79% in January, driven by higher prices of vegetables, edible oil, cereals and protein-based items.

However, WPI inflation dropped to a three-year low of 6.62% in January but the data failed to spur rate cut hopes.

The BSE benchmark Sensex resumed higher at 19,517.59 and moved in a range of 19,723.01 and 19,381.82 before ending at 19,468.15, a loss of 26.62 points, or 0.14%.

The 30-issue index has lost 635.38 points, or 3.16 per cent, in the last three weeks.

The NSE 50-share Nifty also declined by 16.10 points, or 0.27%, to settle at 2013's lowest closing level of 5,887.40. The benchmark has lost 187.25 points, or 3.08 per cent, in the last three weeks.

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