Sensex ends down for 4th straight day on global, IIP woes
11 May 2012
The BSE Sensex and NSE Nifty fell 0.7% at close on Friday due to fall in global markets on Greece woes and disappointing industrial output data for March. The market made an attempt in afternoon trade to turn positive but failed to sustain that recovery. Equity benchmarks closed lower for the fourth consecutive session.
The BSE benchmark declined 127.07 points or 0.77%, to close at 16,292.98 and the NSE benchmark was down 36.80 points or 0.74% to 4,928.90.
Saurabh Mukherjea, Head of Equities at Ambit Capital said the IIP numbers were shockers. "The rupee remains weak, FII sentiment for India is weak and this sort of macro data obviously exacerbates the problem," he added.
India's industrial output unexpectedly contracted 3.5% in March as against 4.1% in February. Analysts had expected output to grow 1.5%. Capital goods, mining and manufacturing sectors too came in negative.
At 15:08 hours IST: Sensex sheds 100 pts; Indian Bank slips 7% post weak Q4 nos
The BSE Sensex and NSE Nifty shed more than 100 points again after making an attempt of recovery. Shares of ITC, Infosys, ONGC and Larsen & Toubro were down 1.5-2%. Index heavyweights Reliance Industries and State Bank of India trimmed gains, rising 0.6% each.
