The Bombay Stock Exchange benchmark index, Sensex, on Wednesday dropped by 143 points on selling in energy and financial stocks, amid weak global cues and worries of another rate hike by the Reserve Bank of India.
The BSE 30-share barometer opened on a weak note and, in the absence of any positive trigger, traded in the negative zone for the entire day.
The Sensex, which had gained 173 points in the last trade, closed at 17471.03 on Wednesday, down by 143.45 points. The National Stock Exchange's wide-based Nifty-50 index eased by 0.91 points to 5241.10. Equities worldwide declined after a weaker-than-expected service sector report in the U.S. reinforced the growing view that the global recovery was in danger of losing momentum, analysts said.
Reliance Industries, which carries the maximum weight in the Sensex, plunged 1.83 per cent to Rs. 1,052.95. State-run energy major ONGC lost 1.87 per cent at Rs. 1,266.65. Banking stocks retreated after two days of gain on fears of a second rate hike within a span of one month by the RBI.
While ICICI Bank declined by 1.47 per cent to Rs. 846.15, HDFC fell by 1.29 per cent to Rs. 2,906.45, HDFC Bank by 1.15 per cent to Rs. 1,936.60 and SBI by 0.39 per cent to Rs. 2,303.95.
Anil Ambani-led Reliance Communications, another telecom major, rose by 1.59 per cent to Rs. 185.15.
TCS closed up 0.77 per cent at Rs. 763.60.
Rupee loses 13 paise
The rupee dropped by 13 paise to near a one-month low at 47.03/04 against the dollar on Wednesday on persistent demand for the American currency from importers and banks amid weak equity markets.
At the interbank foreign exchange market, the rupee opened lower at 46.92/93 a dollar against Tuesday's close of 46.90/91.
Later, it fell to 47.20 a dollar before closing the day at 47.03/04.
