SEARCH

Business » Markets

Updated: January 10, 2011 22:21 IST

Sensex tanks over 467 points to close at one-month low

PTI
print   ·   T  T  

The Bombay Stock Exchange sensitive index fell for the fifth straight session on Monday and closed lower by 468 points on continued selling by edgy investors, ahead of third quarter corporate results and weak global cues.

The key index has plummeted by a huge 1,337 points or 6.5 per cent in five straight sessions.

The benchmark index closed at 19224.12 against 19691.81 last Friday. It had fallen by 533 points as investors continued to be bogged down by fears of interest rate hike coupled with negative show of global peers. Similarly, the National Stock Exchange's wide-based Nifty extended losses with a fall of 141.75 points or 2.40 per cent to finish at 5762.85.

Market observers called the bearish mood on the BSE ‘expected', as retail investors and foreign institutional investors are pulling out money in view of fears that the Reserve Bank of India will increase interest rates to curb surging inflation and have become cautious ahead of third quarter numbers.

Banking stocks declined on concerns that higher deposit rates might impact net interest margins, thereby hurting profitability. HDFC Bank fell by 5 per cent to Rs. 2,154.90 and ICICI Bank by 3.22 per cent to Rs. 1,014.30. All the 13 sectoral indices ended in negative terrain, with realty and capital goods sectors the worst hit. Of the 30-sensex counters, only Infosys Technologies gained by 0.90 per cent to Rs. 3,396.65. Bharti Airtel dged up by 0.04 per cent to Rs. 338.85 defying the fall in the broader market.

Global cues were negative with Asian markets sliding on disappointing U.S. job data and rising pressure on Portugal from Germany, France and other euro zone countries to seek financial help to prevent the debt crisis from spreading across the region.

Rupee sheds 7 paise

In line with fall in local equities, the rupee depreciated further by seven paise against the dollar and closed 45.45/46 on Monday against 45.38/39 last Friday.

At the interbank foreign exchange market, the rupee opened higher at 45.30/31 and later moved in a range of 45.27 and 45.52 before concluding at 45.45/46

Keywords: marketssensexstocks

More In: Markets | Business

Commodity prices

Take a look at the prices of various commodities in Chennai here»


O
P
E
N

close

Recent Article in Markets

Gold, silver plunge on weak global cues, low demand

Snapping its three-day rising streak, gold prices retreated by Rs 285 to Rs 27,190 per 10 grams at the bullion market on Friday amid a w... »