Sensex down 89 pts; ends 2011 on FIIs outflows, growth worries | business | Hindustan Times
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Sensex down 89 pts; ends 2011 on FIIs outflows, growth worries

business Updated: Dec 30, 2011 17:17 IST

PTI
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The BSE Sensex on Friday fell for the fourth day in a row, losing another 89 points on the last trading day of the year on FII outflows amid worries over slowdown in growth, persisting euro-zone debt crisis and lingering concerns about the US recovery.

Indian equities continued to lose attraction because of inflation, high interest rates, the falling rupee and lack of major economic reforms. As a result, markets lost around 25% during the year, eroding investor wealth of around Rs 20 lakh crore.

The BSE 30-scrip index, Sensex, which had lost over 426 points in last three sessions, fell another 81.09 points, or 0.57% to 15,454.92.

The NSE 50-issue index Nifty declined 21.95 points, or 0.47% to 4,624.30.

Heavyweight Reliance Industries dropped to its lowest level in a year, losing 2.81%. DLF, HDFC Ltd, HUL, Tata Steel, SBI, Tata Power, TCS and L&T also fell sharply.

The decline was cushioned somewhat on a firm trend in the Asian region and higher openings in European markets during the session.

The oil and gas sector suffered the most, losing 1.47% at 7,529.27, followed by realty sector - 1.10% at 1,375.65. Banking index lost 0.37% at 9,153.39.