Sensex suffers worst %age fall in 14 months on trade nos, dips 430 points
14 May 2013 12:06 AM GMT
Ignoring the fall in retail inflation, the sharp rise in trade deficit weighed on the market as the Bombay Stock Exchange’s (BSE) benchmark S&P Sensex on Monday logged its biggest fall of over 430 points in the current calender year and also more-than 14 months to end below 20K-mark at one-week low of 19,691.67, snapping two-session of gaining string. Weakness in global markets too contributed to keep the market subdued.
The country's exports grew by 1.6 per cent in April while imports surged by 10.9 per cent following undue growth in gold imports, which pushed up the trade deficit, mainly affecting the market sentiment badly, explained a broker.
Gold and silver imports during the month under review has increased by 138 per cent to $7.5 billion from $3.1 billion in April 2012, prompting the government to take necessary steps to contain the alarming trade deficit.
Selling was seen across-the-spectrum as all 13 sectoral indices closed in the red between 0.94 and 3.17 per cent with FMCG, capital goods, metal, auto and teck counters leading the downslide. All 30 sensex-based scrips also closed with sharp to moderate losses.
FMCG giant and cigarette major ITC was the top loser from the Sensex pack with a fall of 5.31 per cent, alone extracting over 120 points from the Sensex.
The country's exports grew by 1.6 per cent in April while imports surged by 10.9 per cent following undue growth in gold imports, which pushed up the trade deficit, mainly affecting the market sentiment badly, explained a broker.
Gold and silver imports during the month under review has increased by 138 per cent to $7.5 billion from $3.1 billion in April 2012, prompting the government to take necessary steps to contain the alarming trade deficit.
Selling was seen across-the-spectrum as all 13 sectoral indices closed in the red between 0.94 and 3.17 per cent with FMCG, capital goods, metal, auto and teck counters leading the downslide. All 30 sensex-based scrips also closed with sharp to moderate losses.
FMCG giant and cigarette major ITC was the top loser from the Sensex pack with a fall of 5.31 per cent, alone extracting over 120 points from the Sensex.
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