Sensex plunges 219 pts; realty, CG and bank stocks worst hit
The Bombay Stock Exchange barometer closed at 16,789.74 points, a loss of 219.43 points over its previous close. In straight three-day decline, the index slumped by a total 536.72 points, or 3.1 per cent.business Updated: Oct 22, 2009 19:45 IST
The stock markets turned distinctly weak for the third straight day as a sluggish global trend continued to cast a shadow on local bourses, sending the benchmark Sensex down by 219 points to end below 17K-mark.
Rise in inflation to above one per cent too put pressure on the market.
The Bombay Stock Exchange barometer closed at 16,789.74 points, a loss of 219.43 points over its previous close. In straight three-day decline, the index slumped by a total 536.72 points, or 3.1 per cent.
Interest rate related shares were at the receiving end on expectation of tightening the monetary policy by the apex bank as inflation rose to 1.21 per cent for the week ended October 10 against 0.92 per cent in the previous week.
Realty, capital goods, consumer durable and banking stocks suffered the most while select FMCG and IT counters attracted good buying support.
The BSE realty index fell the most losing 4.59 per cent to 4,524.28 points after Jaiprakash Associates and DLF registered heavy losses. Jaiprakash Associates plunged by 6.84 per cent. Realty major DLF closed lower by 4.93 per cent.
Asian markets ended in the red on Thursday due to weakness on Wall Street yesterday amid robust growth in China's GDP data.
Hong Kong's Heng Sang fell by 0.48 per cent, while Japan's Nikkei lost 0.64 per cent. China's Shanghai Composite closed down by 0.62 per cent, while Kospi dipped by 1.42 per cent.