Sensex ends lower by 52 points in volatile trade
In highly volatile trade, the Bombay Stock Exchange benchmark Sensex today closed lower by nearly 52 points on selling pressure in heavyweight stocks, led by Larsen and Toubro.
Marketmen said selling was triggered after Morgan Stanely cut its share price estimate on Larsen and Toubro, a heavyweight participant.
The 30-share Sensex settled the day 15,923.72 points, showing a fall of 51.80 points.
The key index had plunged to the day's low of 15,362.17 and saw a high of 15,998.33 points.
The second wide-based National Stock Exchange index Nifty ended higher by 38.80 points at 4,800.40, after dipping to 4,620.50 and rising to 4,814.95 points as some stocks like Reliance Industries, State Bank of India and HDFC Bank gained fresh ground.
On BSE, the plunge in Larsen and Toubro which losst over Rs 259.40 at Rs 2,728.80 mainly impact the key index. L&T fell the most since July 20, 2000, after Morgan Stanley cut its share price estimate on the company.
Capital goods sector plunged by 684.03 points at 13,341.09,followed by realty index by 76.62 points at 7705.66. Consumer durable index fell by 118.37 points at 4145.34 and bank index by 38.47 points at 8438.99.