The stock markets extended losses for the third day on Wednesday with the barometer index shedding 83.73 points on selling by funds that took cues from weak Asian markets.
The 30-share Sensex, which had lost nearly 370 points in the last two trading sessions, fell by 83.73 points, or 0.54 per cent, to close at 15,467.46 points.
The key index touched the day's high of 15,628.10 points and a low of 15,392.68 points as the market remained choppy.
Blue-chip stocks led by realty, auto and banking segments recorded heavy losses. Among the 30 Sensex scrips, 21 counters closed with losses, while eight ended higher.
The wide-based National Stock Exchange index Nifty fell by 17 points to 4,608.35 points.
Marketmen said a steep fall in the US Stock markets on Tuesday night and a weak trend in Asian region mainly dampened investor's confidence.
They said the market sentiment further affected after a weak opening in European stock markets this afternoon.
In Asian region, Japan's index fell by 2.37 per cent, Hong Kong's by 1.76 per cent, Singapore's index by 1.02 per cent.
The US Dow Jones Industrial Average index lost 1.96 per cent and the Nasdaq by 2 per cent on renewed concerns about a global economic recovery after reports of more US bank failure.
Reports said three more US banks failed on Friday last week, bringing the total number of failures to 84 this year so far as the banking industry grapples with deteriorating loans.
The European stocks opened lower by one per cent with banking stocks taking the most points off the index, which pulled down the Sensex maximum in the fag-end trading.
Metal sector stocks led by Sterlite, the biggest copper producer, retreated 3.16 per cent after the metal tumbled the most in more than two months on the London Metal Exchange.
ICICI Bank fell by 1.15 per cent, Maruti Suzuki by 2.27 per cent, Mahindra and Mahindra by 2.09 per cent, DLF by 1.18 per cent, Grasim by 1.44 per cent and Larsen and Toubro by 1.07 per cent.
The realty index suffered the most falling by 1.76 per cent to 4,202.65 points followed by the auto index by 1.36 per cent to 5,940.58. The capital goods index fell by 1.26 per cent to 12,772.07, the power index by 1.08 per cent to 2,910.61 and the banking index by 0.61 per cent to 8,228.20
No comments:
Post a Comment