Sensex tanks again before the Lok Sabha election results
The Sensex, which commenced the day lower, fell further sharply to trade at 11,695.52 points before ending with a loss of 146.74 points, or 1.22 per cent, at 11,872.91.business Updated: May 14, 2009 17:14 IST
The Bombay Stock Exchange benchmark Sensex on Thursday fell for the second day in succession, losing 146 points, on investors selling ahead of the outcome of the Lok Sabha elections.
The Sensex, which commenced the day lower, fell further sharply to trade at 11,695.52 points before ending with a loss of 146.74 points, or 1.22 per cent, at 11,872.91.
The 50-share National Stock Exchange index Nifty fell by 41.80 points, or 1.15 per cent, to 3,593.45, after touching the day's low of 3,537.60 points.
Bucking the general weak trend, shares in realty, auto, consumer durables and FMCG rose to avert a major fall in the market. The market lost 2.70 per cent in opening trade.
Shares of DLF Ltd and Maruti Suzuki stole the show by gaining 7.18 per cent and 0.75 per cent, respectively.
Information technology and banking shares dropped as the financial markets remained weak on fears that none of the leading political parties would get a majority, traders said.
They said the outcome of the general elections this Saturday would decide the direction of the capital markets.