Mumbai: A benchmark index for Indian equities
markets fell over 126 points Wednesday as weakness in the rupee
recurred. Automobile, consumer durables and realty stocks faced
the brunt of intense selling.
Amid volatile trade, the 30-scrip sensitive index (Sensex) of the
Bombay Stock Exchange (BSE), which opened at 16,391.90 points,
closed at 16,312.15 points -- down 0.77 percent or 126.43 points
from its previous close of 16,438.58 points.
The Sensex touched a high of 16,428.74 points and a low of
16,295.31 points intra-day. The midcap index of the BSE fell 76.58
points, while smallcap index closed 77.22 points down.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange
closed 0.79 percent lower at 4,950.75 points.
The sentiment was downbeat and market breadth was weak following a
weaker rupee, which slipped below 56 against dollar, and negative
Brokers and analysts said the effect of a weakening rupee had a
distinct effect on markets. Asian markets had closed in the red
earlier and European stocks traded lower during the day.
The automobile index was down 3.97 percent followed by consumer
durable index and realty index which fell 2.25 percent and 2.18
Tata Motors was the top loser at the Sensex and the Nifty. It was
down 11.80 percent at Rs.243.35.
Other main losers were BHEL, down 3.05 percent at Rs.211.15; ICICI
Bank, down 2.62 percent at Rs.817; DLF, down 2.53 percent at
Rs.183.35; and Sterlite Inds, down 2.06 percent at Rs.95.25.
The major Sensex gainers were Sun Pharma, up 2.76 percent at
Rs.581.25; Maruti Suzuki, up 2.12 percent at Rs.1,150.90; Tata
Power, up 1.51 percent at Rs.94.35; Hindustan Unilever, up 1.10
percent at Rs.421.50; and Infosys, up 0.64 percent at Rs.2,422.45.