Sensex slips by 259 pts; extends losses on muted earnings
The benchmark BSE Sensex on Friday slipped 258.53 points, for the second straight day, to end at nearly two-week low of 28,112.31 on muted earning figures reported by companies so far and weak global cues.business Updated: Jul 24, 2015 17:11 IST
The benchmark BSE Sensex on Friday slipped 258.53 points, for the second straight day, to end at nearly two-week low of 28,112.31 on muted earning figures reported by companies so far and weak global cues.
Moreover, weakness in rupee, which fell 23 paise against dollar (intra-day) too hit sentiments, brokers said.
Asian markets ended lower after a survey showed China's manufacturing activity tumbled to 15-month lows in July.
The 30-share BSE barometer fell by 258.53 points or 0.91% to 28,112.31, with all the sectoral indices, except consumer durables and FMCG, ending in negative zone.
The gauge has now lost 392.62 points in two days.
The NSE Nifty ended 68.25 points or 0.79% down at 8,521.55 after shuttling between 8,513.50 and 8,589.15 intra-day.
On a weekly basis, the Sensex and Nifty ended lower by 351 points (1.23%) and 88.30 points (1.02%), respectively.
Sentiments were also dampened on investors' worries over the fate of key reforms bills including GST, with Parliament's proceedings in the first week of the Monsoon Session completely washed out, they said.
ICICI Bank suffered the most among Sensex stocks by falling 3.96% to Rs 300.50 ahead of earnings, followed by Wipro down 3.73% to Rs 566.45 after the company's June quarter earnings failed to impress investors.
Other prominent losers were Lupin, Tata Motors, GAIL, SBI, Vedanta, M&M, Tata Steel, BHEL, L&T, Coal India, Infosys, Axis Bank, Maruti Suzuki, ITC, Dr Reddy's and ONGC.
Sectorwise, BSE capital goods index suffered the most by falling 1.57%, followed by realty 1.32%.
Broader markets also depicted a weak trend with the BSE mid-cap index falling 0.61% and small-cap by 0.58%.
Out of 30-share Sensex stocks, 21 ended lower.
Meanwhile, foreign investors bought shares worth Rs 185.42 crore on Thursday as per provisional data.
Globally, a rise in European stocks at opening on better corporate earnings and a weak trend at the other Asian markets also influenced the trading sentiments.