Sensex ends 292 points lower

Sensex ends 292 points lower
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First Published: Tue, Aug 12 2008. 03 48 PM IST
Updated: Tue, Aug 12 2008. 03 48 PM IST
New Delhi: The markets ended weak on the back of disappointing June IIP figures. The BSE benchmark that opened marginally weak, lost 292 points or 1.9% by close to 15,212 levels. It hit an intra-day low of 15,124 levels.
The 50-issue NSE index dropped 68 points to 4,552 levels.
A slowdown in the manufacturing sector pulled down the industrial growth in June to 5.4% from 8.9% a year ago. Growth in manufacturing sector, which accounts for over two-third of the Index of Industrial Production dipped to 5.9% from 9.7% a year ago.
Leading the pack of losers among Sensex scrips was Tata Steel. The counter slipped 5.7% or Rs37 by close. Sterlite Industries, ICICI Bank, HDFC, Maruti Suzuki, State Bank of India, Infosys Technologies and Reliance Communications also ended weak.
Profit booking was also visible in banking counters with the BSE banking index ending down 3.4%. ICICI Bank, State Bank of India, Punjab National Bank, HDFC Bank, Kotak Mahindra Bank and Axis Bank were some of the key losers in this pack.
Tata Steel and Jindal Steel were the top losers in the metal pack, losing over 5% each. JSW Steel, SAIL, Hindustan Zinc, Gujarat NRE Coke, NALCO and Sesa Goa also lost considerable ground.
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First Published: Tue, Aug 12 2008. 03 48 PM IST
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