The Hindu : Business : Sensex extends losses in choppy trade

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Friday, Jul 16, 2010
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Sensex extends losses in choppy trade

Banking, realty and automobile stocks are among the worst hit

MUMBAI: Extending its losses for the second consecutive session, the Bombay Stock Exchange benchmark index, Sensex, on Thursday closed 29 points down in choppy trade as fears of a second rate hike by the Reserve Bank of India and weak global cues continued to weigh on investor sentiment.

Erasing early gains, the 30-share barometer of the BSE closed the day at 17909.46, down 28.70 points.

The Sensex, which touched its highest level in 29 months on Wednesday, moved between a high of 17978.56 and a low of 17858.73.

The National Stock Exchange's wide-based Nifty-50 index too lost 0.14 per cent to finish at 5,378.75.

Rate-sensitive sectors such as banking, realty and auto, were among the worst hit stocks.

Weak IIP data, disappointing results from Infosys and double-digit inflation continued to weigh on sentiment.Inflation continued to remain in double digits for the fifth consecutive month during June at 10.55 per cent.

Rupee gains 9 paise

The rupee on Thursday gained nine paise to 46.60/61 against the U.S. dollar on fag-end selling of the American currency by banks.

At the interbank foreign exchange market, the rupee resumed lower at 46.71/72 against the previous day's close of 46.69/70. — PTI

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