Sensex sheds 67 points to close at four-month low
Falling for the second straight day, the BSE benchmark Sensex today fell by nearly 67 points to close at a fresh four-month low on heavy funds outflow amid weak global trends.business Updated: May 09, 2012 17:27 IST
Falling for the second straight day, the BSE benchmark Sensex on Wednesday fell by nearly 67 points to close at a fresh four-month low on heavy funds outflow amid weak global trends.
The 30-share Sensex, which had lost 366 points in the previous session, fell further by 66.60 points, or 0.40 % to 16,479.59 -- a level last seen on January 18.
On similar lines, the broad-based National Stock Exchange index Nifty lost 25.15 points to close at 4,974.80 led by poor show in banking and interest-sensitive sectors.
Brokers said domestic markets opened weak in negative zone on global cues. US markets had closed in red on Tuesday and European markets opened on a mixed note on Wednesday, they said.
The sentiment turned more bearish after Asian stocks dropped to their lowest levels in more than three months, as political tension in Greece heightened concern that Europe's debt crisis might worsen, market participants said.
In the Sensex pack, Reliance Industries fell for the sixth day by losing 1.91 % to Rs 695.10 after the company on Tuesday cut estimates for proven gas reserves in its domestic blocks.
IT major Infosys lost 1.01 % to close at Rs 2,367.70 following weak economic outlook in Europe, an important geography for the IT industry.
SBI, HDFC and ICICI Bank were also among major Sensex losers.
Led by DLF, the BSE-Realty index shed 3 % on Wednesday and was the worst performer amongst sectoral indices. It was followed by BSE-Metal index (down 2.06 per ), BSE-Banking index (-1.89 %) and BSE-Power index (-1.84 %).