Sensex down again; IT, realty shares hit
The BSE benchmark Sensex today closed lower by 239.80 points at 9,328.92 after failing to hold on to its early gains.business Updated: Dec 26, 2008 17:24 IST
Extending the losses for the fourth trading session in a row, the Bombay Stock Exchange benchmark Sensex on Friday closed with a hefty loss of nearly 240 points after failing to hold on to its early gains.
With all the sectors, barring the healthcare counter, coming under selling pressure, the bellwether index closed lower by 239.80 points at 9,328.92.
Marketmen said weak cues such as reports of a fall in advance tax payments for the third quarter pulled down the barometer after a promising start. Relentless selling in the past four sessions has shaved off a little over 770 points from the bellwether index.
The wide-based National Stock Exchange index Nifty also fell by 59.60 points at 2,857.25.
Brokers said though inflation continued its decling trend, it was did not offer any succour to investors.
They said the selling pressure gathered momentum on reports of a steep fall in advance tax payments for the third quarter amid anticipation of dismal quarterly earnings for the same period.
The reports of a steep fall in home and consumer durable goods sale in the US further has also given way to thinking that the worst of recession in the world's largest economy is not yet over.
In the 30-share Sensex, five were in positive zone while all the other 25 traded lower. Information technology segment stocks led the fall by losing 3.92 per cent at 2,149.44, with Infosys Technologies suffering the most by losing 5.33 per cent at Rs 1109.55.