The Bombay Stock Exchange (BSE) benchmark index, Sensex, closed below the 19,000-mark on Wednesday as market participants feared that policy reforms would be hit due to political uncertainty.
The 30-share Sensex fell 123.91 points to close at 18884.19.
The index has lost 686 points in the last four sessions.
A broader 50-share National Stock Exchange (NSE) index, Nifty, closed at 5694.40, down 51.55 points compared to its previous close. Nifty has lost 214 points in the last four sessions.
“ Investors are apprehensive that the ongoing political uncertainty may derail reforms, and, in the process, delay economic recovery. Shares of banks, infrastructure and property were down sharply,” said Sanjeev Zarbade, Vice President, Private Client Group Research, Kotak Securities.
Mid cap and small cap stocks fell sharply by 1.90 per cent and 2.32 per cent, respectively. Realty stocks led the fall, with a loss of 4.67 per cent, followed by power (2.65 per cent), PSUs (2.37 per cent) and banks (2.10 per cent). Among the broader indices, the BSE 100 lost 1.01 per cent, the BSE 200 was down by 1.08 per cent and the BSE 500 dipped by 1.13 per cent.
Balmer Lawrie to consider bonus issue
The board of directors of Balmer Lawrie & Company will be meeting on March 26 to consider the issue of bonus shares, according to a stock exchange notification. The shares (Rs. 10 face value) ended at Rs. 584.55 on the Bombay Stock Exchange.
Rupee ends flat
The rupee edged up by a paisa to end at 54.36 against the dollar on late greenback selling by exporters amid a weak dollar overseas.