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Auto, bank lead Sensex fall

In yet another volatile trade, the Bombay Stock Exchange benchmark Sensex today fell by over 84 points, as funds indulged in profit selling after an unexpected contraction in the US job data revived their fears about the fledgling global recovery.

business Updated: Dec 04, 2009 17:08 IST

In yet another volatile trade, the Bombay Stock Exchange benchmark Sensex today fell by over 84 points, as funds indulged in profit selling after an unexpected contraction in the US job data revived their fears about the fledgling global recovery.

The Sensex, which remained flat from Wednesday after the massive rally on the first two days of the week, fell by 84.14 points to close at 17,101.54 points as heavy-weight stocks led by auto and banking counters saw aggressive selling. The key index moved between 17,291.83 and 17,032.81 points.

The wide-based National Stock Exchange index Nifty 50 too fell by 22.80 points to 5,108.90 points, after shuttling
between 5,161.80 and 5,081.85 points during the session.

Selling pressure sparked following the Institute for Supply Management’s index of businesses that make up almost 90
percent of the American economy, sank to 48.7 in November.

Weak global cues further fueled the bearish sentiment.

Both Asia and Europe had weak openings today, which was visible in the opening of the local bourses.

Continued selling on the Reliance Industries, ICICI Bank, SBI, Maruti Suzuki, Hero Honda, Mahindra & Mahindra and Tata Steel counters capped the day's gains on the index.

The auto sector index suffered the most by losing 1.47 per cent to 7,186.23 points, followed by the banking stocks
which shed 1.18 per cent to 10,244.63 points.