The Hindu : Business : Sensex surrenders another 150 points

Online edition of India's National Newspaper
Saturday, May 13, 2006

Business

Business

Sensex surrenders another 150 points

Funds sell in cement, banking stocks

MUMBAI: Steep fall in select cement and banking shares pulled down the Bombay Stock Exchange sensitive index (Sensex) further sharply by 150.30 points to close at 12,285.11 on persistent heavy selling by funds and operators.

The BSE 30-share index opened low at 12,400.71 against 12,435.41 and soon plunged to 12,224.44. Thereafter, it recovered marginally and closed at 12,285.11, still showing a sharp fall of 1.21 per cent over the previous close.

Similarly, on the National Stock Exchange, S&P CNX Nifty fell by 51 points or 1.38 per cent to 3650.05.

Cement stocks declined sharply on heavy selling pressure.

According to brokers, market sentiment turned bearish due to fears of slowing down in reforms after the Left retained its position in West Bengal and made a handsome comeback in Kerala elections.

The rise in inflation to 3.59 per cent during the week ended April 29 from 2.54 a week ago also had negative impact on the market, brokers said.

The total turnover was down at Rs. 4,459.88 crore against Rs. 5,043.85 crore.

RIL were the top traded security with the highest turnover of Rs. 328.19 crore followed by ACC Rs. 146.79 crore. — PTI

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section