Ummid Assistant

'Pay Zakat ul Fitr to mend mistakes while fasting'

IGNOU trains teachers to develop online courses

Welcome Guest! You are here: Home Business & Economy

Global cues, dismal industrial output, pull down Sensex

Monday September 12, 2011 05:49:40 PM, IANS

Mumbai: A benchmark index for the Indian equities markets Monday pared some of its intra-day losses and closed 363 points lower, pulled down by negative global cues and a slowdown in domestic industrial output.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,668.25 points, closed at 16,501.74 points, down 365.23 points or 2.17 percent from its previous close at 16,866.97 points.

The Sensex had slipped more than 473 points to an intra-day low of 16,393.04 points.

Dampened by a sharp fall in capital goods production, India's factory output grew at a sluggish 3.3 percent in July compared to a year earlier, much slower than expectations and sharply below the 8.8 percent growth registered in the previous month.

The 50-scrip S&P CNX Nifty of the National Stock Exchange too ended 2.23 percent down at 4,946.8 points.

Broader markets too ended in the red. The BSE midcap index closed 1.84 percent down, while the BSE small cap index ended 1.86 percent lower. The BSE 100 slipped 2.19 percent.

"After having lost heavily on Friday, Indian markets started the week with a significant cut as the Sensex reacted to the weak US and Asian markets. The situation in Europe continues to remain precarious," said Sanjeev Zarbade, vice president with Kotak Securities.

"The disappointing factory output data further added to the selling pressure," added Zarbade.

The market breadth was negative with 875 stocks advancing, compared to 1,929 on the decline and 103 remaining unchanged.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors sold stocks worth $47.38 million Monday.

All 13 sectoral indices on the BSE were in the red. Consumer durables, metals, IT and realty scrips were among the biggest losers at this time.

Prominent losers on the Sensex were ICICI Bank, down 3.87 percent at Rs.861.75; SBI, down 4.39 percent at Rs.1,869.15; Bharti Airtel, down 3.58 percent at Rs.386; and RIL, down 2.33 percent at Rs.805.85.

Major gainers included: Hindustan Unilever, up 3.8 percent at Rs.345.90; Cipla, up 1.41 percent at Rs.290.65; and Sun Pharma, up 1.24 percent at Rs.489.

Global markets were witnessing a sell-off over concerns of another debt default by Greece.

Asian markets fell sharply with Japan's Nikkei closing 2.31 percent lower at 8,535.67 points and Hong Kong's Hang Seng index ending 4.21 percent down at 19,030.54 points.

Chinese markets were closed on account of a holiday.

European bourses too fell sharply as traders priced in the likelihood of a debt default by Greece.

Britain's FTSE 100 was trading 2.42 percent down at 5,088.25 points, while the German DAX was ruling 3.39 percent lower at 5,014.05 points.

The French CAC 40 was also down 4.77 percent at Rs.2,832.74 points.





Bookmark and Share

Home | Top of the Page



Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS




Top Stories

Trial court to hear Gulberg carnage case: Apex court

The Supreme Court Monday directed a trial court to hear a petition by Zakia Jafri, widow of former MP Ehsan Jafri who was killed in the Gulberg Society carnage during the  

I am upset, disappointed: Zakia Jafri

Gulberg Verdict: BJP claims victory; A huge step forward, says Setalvad


  Most Read

New York marks 10th anniversary of 9/11 attack

A memorial service began Sunday morning at the National September 11 Memorial  

Taliban deny role in 9/11; accuse US of using incident to invade Afghanistan

Azharuddin's relative dies, son critical

Ajmal-ur-Rahman, a relative of former Indian captain Mohammed Azharuddin, died after an accident here in which the cricketer's son Mohammed Ayazuddin was critically injured, police said. Rahman, 16, and Ayazuddin, 19, met with the accident on the  

Azharuddin's son critically injured in accident


  News Pick

'Why was Team Anna silent on RTI activist's murder?'

The family of RTI activist and India Against Corruption's Madhya Pradesh chapter head Shehla Masood, who was killed here last month, feels the 

Gandhi Centre to be launched in Holland

A Gandhi Centre will be inaugurated at The Hague on Mahatma Gandhi's Oct 2 birth anniversary, the Indian embassy in the Netherlands said in a statement. The Gandhi Centre will be inaugurated by Karan Singh, president of the Indian  

SC verdict on Zakia Jafri's plea Monday

The Supreme Court will give its verdict September 12 Monday on a plea by Zakia Nazim Jafri for a direction to conduct further probe into the alleged role of Gujarat CM Narendra Modi in the 2002 Gulberg Society massacre  


Picture of the Day

The 27th of Ramadan (August 26, 2011 this year), "Laylet al-Qadr" (Night of Power), is one of the holiest nights of the Islamic calendar, the night when the Quran began to be revealed to the Prophet Muhammad (Peace be upon him). Millions from around the world visit the Grand Mosque in Makkah from all over the world and pray over the night.



RSS  |  Contact us


| Quick links



Subscribe to

Ummid Assistant






About us




Government Schemes










Contact us





      Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.