Sensex tumbles over 191 pts on weakening global trend
Bombay Stock Exchange benchmark Sensex, on Thursday, nosedived by over 191 points on selling at metal, realty, auto and banking counters amid weak global trends.business Updated: Jul 01, 2010 16:46 IST
Bombay Stock Exchange benchmark Sensex, on Thursday, nosedived by over 191 points on selling at metal, realty, auto and banking counters amid weak global trends.
The Sensex, which had gained nearly 167 points in the previous session, plunged 191.57 points to 17,509.33. Reliance Industries lost Rs 10.75 to close at Rs 1,076.15 while Infosys Technologies was down Rs 21.05 at Rs 2,767.50. The two blue-chips carry nearly 23 per cent weight on the Sensex.
The broad-based National Stock Exchange index Nifty fell by 61.10 points to 5,251.40. Marketmen said that selling pressure gathered momentum following reports of a weak trend in the Asian region, after China's manufacturing outlook weakened slightly in June for the third month.
A lower opening in Europe, following rating agency Moody's remarks that it may downgrade Spain's debt, also added to the selling pressure. Domestic factors, such as a fall in food prices and a jump in exports in May, cushioned the decline to some extent, they added.