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Sensex, Nifty lose over 1%, end at 1-month lows

In fag-end high volatilaty on the last day of September contract, coal blocks related shares from metal, power and banking segments suffered heavy losses, sending the benchmark S&P BSE Sensex and CNX Nifty spiralling downwards by 276 points and 91 points respectively to settle at one-month low, completing three-day of losses.

Refinery stocks suffered heavy losses after the government again postponed a decision revising gas prices. The S&P BSE 30-share Sensex initially touched a high of 26,814.20 on the back of firm Asian cues prompted by strong closing on Wall Street yesterday after robust US housing data for August. Later, emergence of selling pulled it down to a low of 26,349.55 before recovering some ground to conclude at 26,468.36, still showing a fall of 276.33 points or 1.03 pct.
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