Sensex sheds 182 points, metal stocks lead downfall
The 30-share Sensex fell by 181.71 points to 19,079.64, after touching the day's low of 19,009.35 and a high of 19,375.07 points.business Updated: Dec 18, 2007 16:59 IST
The Bombay Stock Exchange benchmark Sensex fell for the fourth straight session on Tuesday by losing nearly 182 points on heavy selling by foreign funds amid concerns of tight credit markets and fear of US housing slump derailing the economic growth.
The 30-share Sensex fell by 181.71 points to 19,079.64, after touching the day's low of 19,009.35 and a high of 19,375.07 points.
Similarly, the wide National Stock Exchange index Nifty fell by 34.70 points to 5,742.30. It touched the day's low of 5,710.60 and a high of 5,874.60 points.
A steep fall in metal stocks, led by Hindalco Industries and Hindustan Zinc after metal prices slid in London Metal Exchange, mainly pulled down the key indices.
Metal index fell the most by 246.87 points to 18,077.63 followed by capital goods index by 226.43 points to 18,902.71.
Copper for delivery in three months on the London Metal Exchange traded down 0.5 per cent at 6,350 dollar a ton after closing 2.5 per cent lower on Monday. Zinc and lead prices were falling with Chinese production increasing.
Bank index also lost 155 points at 10,764.22 and realty index by 44.78 points at 11,654.58 as profit selling at existing higher levels wiped off most of the gains registered in the recent past.