Markets

Sensex skids 253 points on weak global cues

Our Bureau Mumbai | Updated on June 01, 2012

Stock market indices shed over 1.5 per cent on Friday going down gradually, barring a vertical fall when Europe opened.

The Nifty ended the day at 4,842, down 83 points and the Sensex at 15,965, down 253 points.

Dealers said weak global cues, falling GDP growth, and the rupee depreciation this week were the main reasons.

FIIs were net sellers at Rs 220 crore, while DIIs were net buyers at Rs 206 crore. Retail investors on the BSE were net buyers of equity worth Rs 10 crore. The advance decline ratio on the Nifty was 4:46.

Investor sentiments worsened after manufacturing output slowed in China and shrank in Europe. US markets were also affected by data released on Thursday that new jobs in May were 15,000 less than the expected 148,000.

Europe data

“Initial selling pressure was seen in IT stocks as sentiments worsened for the sector on weak economic data in the US market. Weak economic data for the month of May in Europe made the sentiments further jittery,” said Ms Shanu Goel, Senior Research Analyst, Bonanza Portfolio.

All the sectoral indices closed in the red, except the FMCG index which was marginally up. Volatility increased six per cent and the volatility index, India Vix, closed at 26.77.

The top gainers on the Nifty were ITC, GAIL, Sun Pharma and Hindalco while the top losers were Asian Paints, Cairn, Siemens, Bank of Baroda and Ranbaxy.

>priya.s@thehindu.co.in

Published on June 01, 2012

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