Sensex down 271 points; SBI battered after poor Q4 numbers | business | Hindustan Times
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Sensex down 271 points; SBI battered after poor Q4 numbers

The 30-share index, which gained 124 points over the last two sessions, shed 271.27 points to 16,994.60, weighed down by weak world equities and lower-than-expected fourth quarter earnings from State Bank of India.

business Updated: May 14, 2010 17:12 IST

The Bombay Stock Exchange benchmark Sensex on Friday lost 271 points to close below the 17,000 levels after a gap of four days.

The 30-share index, which gained 124 points over the last two sessions, shed 271.27 points to 16,994.60, weighed down by weak world equities and lower-than-expected fourth quarter earnings from State Bank of India.

The National Stock Exchange index Nifty dropped by 85.40 points to 5,093.50, as stocks in metal, realty, oil and gas and banking sector suffered major losses.

Reliance Industries fell by Rs 28.25 to Rs 1,043.55 while second heaviest Infosys Technologies dropped by Rs 45.30 to Rs 2,656.85. State Bank of India lost Rs 92.50 to Rs 2,222.65. The three stocks carry nearly 29 per cent weightage on the Sensex.

Trading sentiment also dampened following a fall in Asian stock markets and a lower opening in Europe this afternoon.

In 30-BSE component stocks, 26 ended with losses while four-recorded small to notable gains. Barring healthcare and FMCG, all sectoral indices were down.