Sensex tumbles 2018 points to close at 25,044 ahead of IIP data
The benchmark BSE Sensex reversing its Thursday’s rally fell by 208 points on Friday to close at a three-month low of 25,044.43 as shares of automakers dropped after the National Green Tribunal (NGT) ordered that diesel-run vehicles will not be registered in Delhi.business Updated: Dec 11, 2015 18:56 IST
The benchmark BSE Sensex reversing its Thursday’s rally fell by 208 points on Friday to close at a three-month low of 25,044.43 as shares of automakers dropped after the National Green Tribunal (NGT) ordered that diesel-run vehicles will not be registered in Delhi.
This was the seventh fall in last eight sessions.
Moreover, investors grew increasingly worried over a possible delay in the passage of the key GST bill amid weak global cues as investors prepared for the outcome of next week’s Fed policy meet which probably will raise interest rates for the first time in a decade.
Cautious approach ahead of the key economic data, Industrial Production numbers for October due later today also cast its shadow on sentiments, brokers said.
Weighed down by heavy selling in blue-chips, the BSE Sensex crashed below the crucial 25,000-mark to hit a low of 24,930.43 during mid-session.
However, on value-buying in select counters it managed to close above 25,000 at over three-month low of 25,044.43, revealing a fall of 207.89 points or 0.82%.
The NSE Nifty after slipping below the 7,600-level to hit a low of 7,575.30 towards the middle of session finally settled 72.85 points or 0.95% lower at 7,610.45.
On a weekly basis, Sensex lost 593.68 points or 2.31% and the NSE Nifty dropped 171.45 points or 2.20%.
Auto sector stocks came under pressure after the NGT cracked down on purchase of diesel vehicles.
Tata Motors, M&M, Maruti Suzuki, Ashok Leyland and Eicher Motors plunged up to 2.98%, dragging down the Auto index by 1.71%.
Besides, the BSE Banking index fell by 2.25% as stocks of ICICI Bank, Axis Bank, SBI and HDFC Bank too suffered losses up to 3.60% on a major sell-off.
Bucking the trend, Tata Steel surged the most 3.41% followed by Hindalco 0.73%, Cipla 0.66%, HUL 0.60% and Vedanta 0.36%.
In broader markets, the BSE mid-cap index edged lower by 1.18% while small-cap shed 0.81%.
On global front, Asian markets ended mixed with Japan’s Nikkei rising 0.97%, while Shanghai Composite index fell 0.61% and Hong Kong’s Hang Seng dropped 1.11%. Europe was also down in early trade as investors stayed cautious before the Federal Reserve’s next week’s meeting.