Sensex ends 16 points down

PTI Mumbai | Updated on May 10, 2011 Published on May 10, 2011

In a volatile trading, the Bombay Stock Exchange benchmark Sensex closed nearly 16 points down at 18,513 today as investors sold banking and refinery stocks amid concerns over high interest rates and fears of hike in fuel prices.

It is the second day that the 30-share BSE index Sensex closed on a flat note, although on Monday it had recorded marginal gains.

The Sensex, which had edged up 10.15 points in the previous session, fell by 16.19 points to 18,512.77, after shuttling between 18,689.37 and 18,429.06.

The broad-based National Stock Exchange index Nifty also closed with a loss of 9.85 points at 5,541.25. It touched the day’s low of 5,514.55 and a high of 5,592.90.

Banking, consumer durables, capital goods, oil and gas and IT stocks suffered heavy losses on fresh selling. However, gains in FMCG, realty, power, auto and metal sector stocks, and a firm global tend saved the market from any major fall.

The barometer’s two heaviest stocks with 23 per cent weightage — Reliance Industries and Infosys Technologies — fell on heavy selling. RIL lost 0.71 per cent to Rs 951.50 and Infosys 0.8 per cent to Rs 2,880.40.

Brokers said investors remained jittery on speculation that the Government might hike fuel prices, stoking inflation and triggering further hike in interest rates.

The banking sector index fell the most by 0.63 per cent to 12,544.54 as HDFC Bank dropped by Rs 33.50 to Rs 2,246.75 and HDFC Ltd by Rs 2.45 to Rs 661.65.

The consumer durables sector index fell by 0.6 per cent to 6,157.18 on fears the hike in interest rates might trim household items.

Published on May 10, 2011
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