Mumbai: The Indian bourses ended weak following a subdued trend in global markets after concerns of Lehman Brothers’ ability to raise capital fuelled speculation about the health of the financial sector.
The BSE benchmark index shed 1.6% or 238 points to settle at 14,663 levels. Similarly, the wider-based Nifty closed 68 points lower at 4,400 levels.
Weakening rupee, which breached 45-to-a-dollar mark for the first time since November 2006 was another dampening factor.
Metal counters witnessed heavy sell-off for the second consecutive day with Sterlite Industries skidding 11.8% or Rs68 post restructuring plans. Gujarat NRE Coke, Jindal Steel, Sesa Goa, SAIL, JSW Steel, Tata Steel and Ispat Industries also lost considerable ground.
Profit booking was also visible in oil and gas scrips with Reliance Industries and Indian Oil slipping over 2% each. Cairn India, Essar Oil, Bharat Petroleum Corporation and Aban Offshore also ended in negative turf.