The Hindu : Business : IT, realty stocks pull Sensex down

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IT, realty stocks pull Sensex down

MUMBAI: Extending the losses for the fourth trading session in a row, the Bombay Stock Exchange sensitive index (Sensex) closed with a loss of nearly 240 points on Friday after failing to hold on to its early gains.

With all the sectors, barring the healthcare counter, coming under selling pressure, the sensex closed lower by 239.80 points at 9328.92 against 9568.72 on Wednesday.

The market remained closed on Thursday for Christmas. Marketmen said weak cues such as reports of a fall in advance tax payments for the third quarter pulled down the sensex after a promising start.

Brokers said though the inflation rate continued its declining trend, it did not offer any succour to investors. Reports of a steep fall in home and consumer durable goods sale in the U.S. further have also given way to thinking that the worst of recession in the world’s largest economy was not yet over.

In the 30-share Sensex, five were in the positive zone while others traded lower.

Information technology index led the fall by losing 3.92 per cent at 2149.44, with Infosys Technologies suffering the most by losing 5.33 per cent at Rs. 1109.55.

Shares of Reliance Petroleum, which surged a little over 12 per cent after the company commissioned the world’s largest refining hub at Jamnagar in Gujarat.

Rupee sheds 39 paise

Reversing the gaining trend in the early trade, the rupee ended lower by 39 paise against the dollar on Friday The rupee resumed higher at 47.85/87 and fell to a low of 48.60. It ended at 48.45/46 a dollar against 48.05/06 on Wednesday. — PTI

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