Sensex Falls For Fourth Straight Day To Lowest Level In Over Two Months: 10 Points
- The Sensex fell 0.13 per cent or 48 points to close at 37,983 and the NSE Nifty 50 Index dropped 0.13 per cent or 15 points to settle at 11,331.
- The Sensex ended below 38,000 mark for the first time since May 17.
- Foreign institutional investors have been selling shares in the Indian markets after the government implemented the Budget proposals which called for higher taxes for individuals, trusts and association of persons earning more than Rs. 2 and Rs. 5 crore.
- Foreign investors have sold shares worth Rs. 4,530 crore since Budget as analysts say most foreign investors opt to invest in equity markets in capacity of trusts. Meanwhile, subdued earnings by Indian companies are also adding to the weak sentiment in the quity markets, analysts added.
- Nine of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Finance Index's 0.8 per cent decline. Energy and Auto Indexes also declined by 0.6 and 0.5 per cent respectively.
- On the other hand, S&P BSE Utilities and FMCG indexes were top gainers, up over a per cent each.
- Mid- and small-cap indexes ended on a mixed note with S&P BSE MidCap Index declining 0.56 per cent and the S&P BSE SmallCap Index advancing 0.4 per cent.
- State Bank of India was top loser in the Nifty 50 basket of shares, the stock fell 2.5 per cent to close at Rs 342.10. Indiabulls Housing Finance, HDFC, Adani Ports, Bajaj Auto, Zee Entertainment, HDFC Bank, Grasim and Coal India were also among the losers.
- On the flipside, Power Grid Kotak Mahindra Bank, Hero MotoCorp, ITC and Asian Paints were among the gainers.
- The overall market breadth was neutral as 1,270 shares ended lower while 1,187 closed higher on the BSE.
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