Sensex runs south for 7th day as inflation data boost rate hike fears
15 Nov 2013 4:16 AM IST
The benchmark Sensex on Wednesday slipped by around 88 points, extending its string losses to the seventh session in a row, hit by fears of interest rate hikes by the RBI to control rising inflation and fresh talk of US Fed looking at tapering its stimulus.
The 30-share bluechip index fell by 87.51 points, or 0.43 per cent, to 20,194.40 - its lowest level since 8 October.
In volatile trade, the gauge touched the day’s high of 20,365.59 and a low of 20,161.64. Laggards including ITC, HDFC Bank, TCS, RIL and L&T pulled down Sensex. The biggest losers, in percentage terms, included GAIL, Cipla and Sesa Sterlite.
A weak show by Asian stocks and lower opening in Europe after reports said Fed officials gave mixed signals on Tuesday amid speculation that the US central bank would start reducing stimulus next month, further influenced the domestic trend. The 30-share Sensex has now lost 1,044.96 points in seven sessions, its longest losing streak since the eight days ended 2 August when it cracked by 1,138.11 points. The broad-based National Stock Exchange index Nifty ended below the crucial 6,000-level by losing 28.45 points, or 0.47 per cent at 5,989.60.
The 30-share bluechip index fell by 87.51 points, or 0.43 per cent, to 20,194.40 - its lowest level since 8 October.
In volatile trade, the gauge touched the day’s high of 20,365.59 and a low of 20,161.64. Laggards including ITC, HDFC Bank, TCS, RIL and L&T pulled down Sensex. The biggest losers, in percentage terms, included GAIL, Cipla and Sesa Sterlite.
A weak show by Asian stocks and lower opening in Europe after reports said Fed officials gave mixed signals on Tuesday amid speculation that the US central bank would start reducing stimulus next month, further influenced the domestic trend. The 30-share Sensex has now lost 1,044.96 points in seven sessions, its longest losing streak since the eight days ended 2 August when it cracked by 1,138.11 points. The broad-based National Stock Exchange index Nifty ended below the crucial 6,000-level by losing 28.45 points, or 0.47 per cent at 5,989.60.
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