Black Friday: Sensex tanks over 800 points; Nifty dips below 5,500
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Black Friday: Sensex tanks over 800 points; Nifty dips below 5,500

Last Updated: Friday, August 16, 2013, 15:48
 
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Black Friday: Sensex tanks over 800 points; Nifty dips below 5,500
Zee Media Bureau/Ajeet Kumar

Mumbai: The BSE benchmark Sensex tumbled by over 800 points in closing hour of trade Friday on renewed selling pressure, triggered by fall in global markets amid expectations that Fed may start reducing its stimulus next month amid growing signs of recovery in US Job market.

Depreciation of rupee against the US dollar also dampened market sentiment.

The rupee hit record low of 62.03 per dollar today on heavy US currency demand. Previously, it had hit all-time low of 61.80 on August 6.

The 30-share index, which has gained nearly 703 points in the previous four sessions, fell by 805.01 points to 18,563 with all the sectoral indices led by realty, banking, metals and consumer durables coming under pressure.

In a similar fashion, the wide-based National Stock Exchange index Nifty fell by 242.85 points to 5,499.

Major losers on BSE were - BHEL (10.87 percent),Sterlite Industries (7.14 percent), Tata Steel (6.73 percent), ONGC (6.20 percent), Maruti Suzuki (4.82 percent), HDFC (4.58 percent) and HDFC Bank (4.13 percent).

Sectorally, the realty sector fell the most by declining 6.46 percent, followed by metals (6.13 percent), banking (5.74 percent), capital goods (5.16 percent), oil & gas (4.88 percent) and power index (3.69 percent).

According to analysts, all round selling amid a weak trend on the Asian bourses in line with overnight losses on the US markets, led to the decline on Dalal Street.

RBI's decision to reduce the limit for Overseas Direct Investment (ODI) under automatic route for all fresh ODI transactions from 400 percent of the net worth of an Indian Party to 100 percent of its net worth, also supported market participants for trimming their positions.

In the Asian region, Japan's Nikkei Index fell 0.8 percent while MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent.

The falls were moderate compared to Wall Street, where Standard & Poor's 500 Index shed 1.4 percent, its biggest fall since mid-June to five-week lows.



First Published: Friday, August 16, 2013, 10:05


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