Markets

Sensex sheds 110 points at close; Nifty down 29 points

Our Bureau Mumbai | Updated on November 24, 2017 Published on June 11, 2014

Weak global cues, below normal monsoon forecast dampen investor sentiment

Weak global cues and below normal monsoon forecast by IMD pulled the Sensex and Nifty down by over 0.4 per cent at the closing session on Wednesday.

After hitting yet another record high of 25,735.87 in the morning trade, the S&P BSE benchmark Sensex ended at 25,473.89, down 109.80 points.

Similarly, the NSE index Nifty, after crossing the 7,700 level for the first time by gaining 43.65 points or 0.57 per cent to an all-time high of 7,700.05, ended at 7,626.85, down 29.55 points.

Global sentiment was dampened as the World Bank had lowered its global growth projections for this year, saying the Ukraine crisis, a harsh winter in the United States and political strife in several middle-income countries had pulled down the outlook.

At the domestic front, below normal monsoon forecast by the India Meteorological Department dampened the investor sentiment. The Indian Meteorological Department had yesterday forecast that the country is expected to receive a below-normal monsoon rainfall of 93 per cent this year.

Sectoral indices

Barring IT, TECk, healthcare and banking, all other BSE sectoral indices ended in the red. Among them, realty index fell the most by 4.21 per cent, followed by consumer durables 2.99 per cent, metal 2.82 per cent and power 2.75 per cent.

On the other hand, IT and TECk indices remained investors' favourite and were up 2.23 per cent and 1.25 per cent, respectively, followed by healthcare 0.66 per cent and banking 0.06 per cent.

Infosys, TCS, Dr Reddy's, Hero MotoCorp and Bajaj Auto were the top five Sensex gainers, while the top five losers were Tata Power, Hindalco, Coal India, BHEL and NTPC.

European stocks fell from a six-year high as the World Bank cut its global growth forecast, and investors awaited a report on UK unemployment. Asian shares were down.

Published on June 11, 2014
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