Sensex falls for fourth straight day | business | Hindustan Times
Today in New Delhi, India
May 23, 2017-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Sensex falls for fourth straight day

The BSE Sensex fell for the fourth straight day today, losing 157 points to close at 19,292 amid rising oil prices and food inflation, as investors settled this month's positions in the derivatives segment.

business Updated: Apr 28, 2011 19:08 IST

The BSE Sensex fell for the fourth straight day on Thursday, losing 157 points to close at 19,292 amid rising oil prices and food inflation, as investors settled this month's positions in the derivatives segment.

After opening higher from Wednesday's close, the 30 share Bombay Stock Exchange index, Sensex, fell 156.67 points to 19,292.02, triggered by realty, metals and capital goods. It had lost nearly 153 points in the last three trading sessions.

The broad based National Stock Exchange index, Nifty, fell 48.45 points to 5,785.45, after opening higher at 5,856.40.

Food inflation remained high at 8.76% for the week ended April 16, marginally up from 8.74% in the previous week, raising investor concerns that the Reserve Bank might hike key interest rates in its monetary policy review meeting on May 3.

Oil prices rallied in global markets, fanning inflation concerns. New York's contract for June rose to USD 113.37 a barrel, while Brent North Sea crude moved up to USD 125.75.

RBI has raised interest rates eight times since early 2010 to tame overall inflation, which has exceeded its forecast of 8% every month this year. The market also witnessed selling as investors cleared their pending long positions on the last day of this month's settlement in the derivatives segment.

Besides, muted fourth quarter earnings by front-running companies have had a dampening affect on the market. The two heavyweights, with 23% weightage in the Sensex -- Reliance Industries and Infosys Technologies -- closed with losses.

RIL lost 1.15% to Rs 973.85 and Infosys dropped by 0.75% to Rs 2,931.55.

The interest sensitive realty sector index suffered the most, losing 3.03% to 2,239.68, followed by the metal sector index which fell by 1.20% to 16,388.21. As the selling pressure spread over a broad-front, the midcap sector index fell 0.97% to 7,168.45 and smallcap index by 0.48% to 8,854.08.