Sensex sheds 104 pts, rupee also falls
28 Aug 2012 7:12 AM IST
The Sensex on Monday fell by 104 points to 17,678.81 on selling in banks, capital goods, metal and power shares amid the logjam in Parliament entering its second week over the coal block allocation issue.
The BSE benchmark index opened flat on weak Asian cues but kept sliding down as selling in interest-rate sensitive shares as well IT stocks increased. Besides weak hopes of any immediate reduction of lending rates by RBI, a lower opening in European shares also spoilt the sentiment.
After dropping to day’s low of 17,662.21, the Sensex closed at 17,678.81 - down 104.40 points, or 0.59 per cent. Across the market, 1,790 stocks closed with losses, wiping off investor wealth worth Rs 42,000 crore on Monday.
‘While the concerns over the deficit rainfall may now be waning, the debate over the CAG report on coal continues to haunt the political scenario,’ said Milan Bavishi, head -research, Inventure Growth and Securities.
A fall in key stocks on the 30-share index including State Bank of India, ICICI Bank, Infosys, L&T, Jindal Steel and BHEL kept the Sensex in negative zone throughout.
The BSE-Realty sectoral index was the biggest loser as it ended 2.42 per cent down with stocks of Unitech, Indiabulls Real Estate, DLF, HDIL and Prestige Estate ending lower.
The 50-share NSE Nifty index also declined by 36.45 points to end at 5,350.25.
Also, the rupee depreciated by 19 paise to close at 55.69 on heavy month-end dollar demand from oil importers. At the Forexmarket, rupee opened weak at 55.57 from last Friday’s close of 55.50.
The BSE benchmark index opened flat on weak Asian cues but kept sliding down as selling in interest-rate sensitive shares as well IT stocks increased. Besides weak hopes of any immediate reduction of lending rates by RBI, a lower opening in European shares also spoilt the sentiment.
After dropping to day’s low of 17,662.21, the Sensex closed at 17,678.81 - down 104.40 points, or 0.59 per cent. Across the market, 1,790 stocks closed with losses, wiping off investor wealth worth Rs 42,000 crore on Monday.
‘While the concerns over the deficit rainfall may now be waning, the debate over the CAG report on coal continues to haunt the political scenario,’ said Milan Bavishi, head -research, Inventure Growth and Securities.
A fall in key stocks on the 30-share index including State Bank of India, ICICI Bank, Infosys, L&T, Jindal Steel and BHEL kept the Sensex in negative zone throughout.
The BSE-Realty sectoral index was the biggest loser as it ended 2.42 per cent down with stocks of Unitech, Indiabulls Real Estate, DLF, HDIL and Prestige Estate ending lower.
The 50-share NSE Nifty index also declined by 36.45 points to end at 5,350.25.
Also, the rupee depreciated by 19 paise to close at 55.69 on heavy month-end dollar demand from oil importers. At the Forexmarket, rupee opened weak at 55.57 from last Friday’s close of 55.50.
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