Sensex down 49 pts at five-wk low; RIL fails to lift market
Absence of big-bang announcements,including 4G launch-related, at Reliance Industries AGM and rupee plunging to 57- level cast a shadow on stock market today with BSE benchmark Sensex closing at 5-week low of 19,519.49.business Updated: Jun 07, 2013 13:21 IST
Absence of big-bang announcements,including 4G launch-related, at Reliance Industries AGM and rupee plunging to 57- level cast a shadow on stock market today with BSE benchmark Sensex closing at 5-week low of 19,519.49.
The 30-share index resumed almost stable but moved down to a low of 19,395.32, down by about 173 points. However, it later recovered to touch a high of 19,635.37 but finally closed at 19,519.49, a loss of 48.73 points or 0.25 %.
After gaining nearly 3 % yesterday, Sensex heavyweight RIL dipped by 1.03 % today. While it announced an investment of Rs 1.5 lakh crore in core business of petrochemicals and oil and gas as well as in retail and telecom sectors in the next 3 years, investors booked profits.
Besides RIL, fall in other key stocks like Infosys, HDFC Bank, Bharti and Sun Pharma weighed on the market sentiment.
Banks, realty and capital goods stocks saw some buying.
The 50-share CNX Nifty of the NSE eased by 2.45 points, or 0.04 %, to 5,921.40. Also, MCX-SX flagship index, SX40, ended down by 19.52 points at 11,596.32.
Brokers said besides concerns of capital outflow as rupee touched 57 level against the dollar intraday today, a down-trend trend in the Asian region and lower opening in European market hurt the trading sentiment here.
Asian stocks closed lower today on steep fall on Wall Street yesterday after US jobs and factory data missed estimates and investors speculated whether the Federal Reserve will scale back bond purchases. Key benchmark indices in Hong Kong, China, Japan, Singapore and Taiwan shed up to 1.54 %.