Sensex dives 2.3%, lowest close since post-poll rally

Sensex dives 2.3%, lowest close since post-poll rally
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First Published: Tue, May 26 2009. 04 36 PM IST
Updated: Tue, May 26 2009. 04 36 PM IST
Mumbai: Markets ended near day’s low on Tuesday, tracking weak European and Asian markets. The Bombay Stock Exchange benchmark Sensex fell by 2.3%, its lowest close since 17% circuit-breaking rally after UPA’s sweeping victory in the 15th LS polls.
Trading began on positive note but lost ground immediately, influenced by mixed sentiments from Asian markets. Trading continued to remain choppy for most of the day on profit-booking and short-covering ahead of this month’s derivatives on Thursday 28 May.
However, markets made some recovery during midsession but weak opening of Europe sent it hovering in red territory. Off-loading was seen across sectors barring IT index. Most of the selling was experienced in realty, capital goods, power, consumer durables, oil & gas and bank segments.
The 30-share BSE index closed lower by 323.99 points at 13,589.23 and the 50-share NSE Nifty ended down by 120.85 points at 4,116.70.
Leading the losers from the BSE pack was Reliance Communication by 9.56% to Rs291.45, Ranbaxy Laboratories by 8.36% to Rs244.40, Tata Motors by 5.91% to Rs325.50, NTPC Ltd by 5.33% to Rs201.40, ICICI Bank by 5.25% to Rs666.60, Bharti Airtel by 5.05% to Rs770.40, DLF Ltd by 4.30% to Rs336.90 and Larsen & Toubro by 3.83% to Rs 1,254.75.
Among the few gainers Hindalco was up by 3.23% to Rs79.90, Infosys Technology by 2.34% to Rs1,543.20, Wipro Ltd by 1.54% to Rs 372.30 and Sterlite Industries by 0.33% to Rs539.90.
In the Asian front, indices ended lower as North Korea tested its nuclear missile. Japan’s Nikkei fell by 0.44% and Hong Kong’s Hang Seng was down by 0.76%.
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First Published: Tue, May 26 2009. 04 36 PM IST
More Topics: Markets | BSE | NSE | Stocks | Sensex |