Markets

Sensex sheds 71 points on weak global cues; healthcare, realty stocks plunge

Our Bureau PTI Mumbai | Updated on December 17, 2014 Published on December 17, 2014

The BSE benchmark Sensex fell nearly 72 points on sustained selling by funds and retail investors due to persistent dip in rupee and a weak trend in global markets.

Global sentiment was dampened due to relentless drop in crude oil prices and Russia's brewing financial crisis.

The 30-share BSE index Sensex fell 71.31 points or 0.27 per cent to 26,710.13 and the 50-share NSE index Nifty closed down by 37.8 points or 0.47 per cent to 8,029.80.

Sectoral indices

Among BSE sectoral indices, healthcare index fell the most by 1.95 per cent, followed by realty 1.59 per cent, auto 1.57 per cent and consumer durables 1.38 per cent. On the other hand, metal index was the star-performer and was up 1.06 per cent, followed by oil & gas 0.74 per cent, PSU 0.72 per cent and India infrastructure index 0.33 per cent.

Gainers, losers

SSLT (3.5%), ONGC (2.16%), SBIN (2.08%), Hindalco (1.76%) and Tata Steel (1.04%) were the major Sensex gainers, while the top five losers were Cipla (2.92%), Hero MotoCorp (2.65%), ITC (2.33%), Sun Pharma (2.19%) and Bharti Airtel (1.99%).





Bearish sentiment

Bears continued to cast shadow as the benchmark BSE Sensex extended its overnight crash to drop 284.91 points and the Nifty fell below the crucial 8K-level on across-the-board selling amid mixed Asian cues.

The market was entangled by global uncertainties due to fall in crude oil prices, Russian currency turmoil as well as uninterrupted selling by FIIs.

There is a need for definite trigger for bourses to recoup as investors are looking for the outcome of a crucial US Federal Reserve meeting, a trader said.

The 30-share BSE Sensex resumed lower at 27,724.01 and dipped to 26,483.57, down by 284.91 points, or 1.06 per cent, in the morning trade.

The NSE 50-share Nifty fell below the crucial 8,000-mark, falling by by 95.50 points, or 1.18 per cent, to quote at 7,972.10.

Brokers' comment

Brokers said sustained selling by funds and retail investors on concerns like widening trade deficit and free fall of rupee added to worries of foreign investors who indulged in booking profits across the board.

Besides, a weak trend in global markets ahead of the outcome of a crucial US Federal Reserve meeting dampened the trading sentiment here.

Published on December 17, 2014
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