Business   

Sensex extends losses for third day

MUMBAI: The Bombay Stock Exchange sensitive index, Sensex, extended the losses for the third day in a row by closing down by nearly 20 points in a volatile trading on Wednesday.

Aggressive selling in the blue-chip stocks such as HDFC, ICICI Bank, M&M, Reliance Infra, SBI and few others mainly weighed against the market sentiment.

Reliance, Industries, on other hand, snapped two day losses and ended in the green. Banking and consumer durable counters attracted profit booking, while realty and refinery shares were in keen demand, preventing major fall in the Sensex. In a see-saw trading, the Sensex fell below the psychologically 9000-level for the second day as it plunged to a low of 8922.31 It managed to bounce back to a high of 9113.92. However, it again fell back and settled at 9015.18 against Tuesday’s close of 9035.

The Nifty of the National Stock Exchange edged up by 5.65 points to 2776.15.

Traders attributed fag end weakness in local markets due to lower opening in European indices following overnight fall on Wall Street.

The Dow Jones industrial average and Nasdaq Composite index tumbled by 3.79 per cent and 4.15 per cent. Worsening global economic conditions and fears over the health of financial sector considering regional manufacturing data mainly weighed against the U.S. markets.

The rupee breached the 50-mark against the dollar for the second time in two months but closed lower at 49.92/93 on Wednesday, a drop of 21 paise over Tuesday’s close of 49.72 a dollar. Dollar in the overseas market rose against yen and euro.

The US currency gained against euro after agencies said they might downgrade euro zone banks having exposure to declining economies in Europe. The Euro plunged below $1.26. — PTI

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Satyam seeks CLB nod for auction to induct strategic investor
Maytas Infra contests Centre’s move
Media industry set to scale new heights
Plea to withdraw cotton export sop
Reliance gas to hit market by April
Cloud computing occupies centre stage
Sensex extends losses for third day
Credit card rules further tightened
GM, Chrysler to cut 50,000 jobs
ING posts 3.7-b euro Q4 loss
Jet, Malaysian Airlines in code sharing pact
Sify plans single-PC internet kiosks
Exchange Rates
Bullion Rates
IFC loan for rural drinking water
Central Bank to finance Tata Motors vehicles
Areva bags Rs. 101 crore order from TNSEB
MapmyIndia gets $9 m funding
Somany Aqua to open 12 more stores
Australian Foods gets award

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu