Friday, June 25, 2010
With metal and financial sector leading the fall, the Bombay Stock Exchange benchmark Sensex Friday over 91 points lower on selling triggered by weak global cues. The thirty share index opened 91.64 points, which had lost 25.70 points in the previous session, at 17,638.60 points. To trade at 5,290.35 points, the wide-based NSE (National Stock Exchange) index Nifty also shed 30.25 points.
A weak opening on the Asian bourses mainly dragged the Sensex down and broker said selling by funds as well as retail investors in bluechip stocks following overnight looses in the US markets. Shares of the country’s most valued firm software major Infosys Technologies declined 0.85 per cent to Rs 2,794 in early trade while those of Reliance Industries opened at Rs 1,046, down 0.50 per cent in early trade.
Metal stocks like Hindalco lost 0.17 per cent to trade at Rs 150.50, Tata Steel shed 0.77 per cent to Rs 494.20 and Sterlite Industries fell 0.86 per cent to Rs 172.40. ICICI Bank’s stocks moved down 1.15 per cent to Rs 874.70, while SBI (State Bank of India) shares drifted lower by 0.51 per cent to Rs 2,344.35. Among the Asian bourses, Honk Kong’s Hang Seng was flat in early trade while Japan’s stock exchange Nikkei was trading 1.45 per cent lower.
Meanwhile, Thursday at 10,152.80 levels the US Dow Jones Industrial Average ended 1.41 percent weaker. The whole of the stock market was completely inclined towards fall in financial sector and metals. All the trends were proactively depicting the scenario.
