Sensex closes lower by 118 points
The markets end in red with the BSE benchmark Sensex losing nearly 118 points on sustained selling by funds in heavyweight stocks.business Updated: May 06, 2008 19:19 IST
The markets ended in red on Tuesday with the Bombay Stock Exchange benchmark Sensex losing nearly 118 points on sustained selling by funds in heavyweight stocks, mainly those belonging to the realty sector.
The 30-share Sensex, which had lost 109 points in the previous day's trade, declined further by 117.89 points at 17,373.01, after touching the day's low of 17,237.68 and a high of 17,502.15 points.
The wide-based National Stock Exchange index Nifty also dropped 47.60 points at 5,144.65. It touched a low of 5,110.90 and a high of 5,206.50 points.
Marketmen said trading sentiments turned bearish as most of realty stocks witnessed a sharp fall on selling pressure by funds as well as general investors.
Realty sector suffered the most by 404.36 points at 8,337.03, followed by capital goods index by 255.48 points at 13,954.55. PSU sector index fell by 109.10 points at 8089.30.
However, IT stocks, led by Infosys, gained 66.02 points at 4,383.36 and saved the market from a major fall.