Sensex declines 81 points!

March 12, 2013 17:39
Sensex declines 81 points!

On Tuesday, The BSE benchmark Sensex fell by 81.29 points to end at 19,564.92 on selling in consumer durables, realty and banking shares as higher-than-expected IIP data combined with rising retail inflation tempered hopes of an interest rate cut by RBI next week.

In fact, after a firm start at 19,697.84, the S&P BSE 30-share Sensex tumbled by 81.29 points, or 0.41 per cent to 19,564.92 and that during trading, it had touched the day’s low of 19,505.75 on heavy selling in interest sensitive stocks. Yesterday, the index had fallen by 37 points, snapping a four day upmove.

Moreover, in Sensex, 21 stocks fell led by HDFC Bank, ICICI Bank, HDFC, Bajaj Auto, L&T and Bhel. Infosys, Bharti Airtel and Tata Power also reported losses and on gainers side, ITC, RIL and Tata Motors ended higher.

Likewise, the National Stock Exchange index Nifty today dropped by 28.25 points, or 0.48 percent to end at 5,914.10 while it shuttled between 5,952 and 5,893.65 range intra day.

To say more, sectorally, the consumer durable sector suffered the most by losing 1.99 per cent to 7,020.82, followed by power index by 1.36 per cent to 1,775.84 where as realty index lost 1.24 per cent to 2,075.76 and banking index 0.92 per cent to 13,816.85.

Earlier in the day, showing green shoots of recovery, industrial production inched up 2.4 per cent in January mainly on account of good show by manufacturing and power sectors.

Even though, retail inflation moved up for the fifth consecutive month to 10.91 per cent in February  remaining in the double digit terrain for third month in a row on account of higher prices of vegetables, edible oil, cereals and protein based items.

(AW:Samrat Biswas)

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