Sensex falls on rising food prices, Nifty break 5,200 level
Mumbai: The Bombay Stock Exchange benchmark
Sensex that had opened on a weak note today, fell further by
over 223 points at mid-session on fund-based selling in heavy-
weight stocks, led by the banking shares.
The 30-share Sensex, which had opened 104 points down,
slipped by 223.01 points to 17,251.48 at 1300 hrs.
The wide-based National Stock Exchange index Nifty also
cracked the psychological 5,200 points level by losing 68.45
points to trade at 5,153.25.
Selling pressure was more confined to banking, capital
goods and power sectors as investors were concerned that the
higher food prices might prompt the Reserve Bank of India to
tighten money supply when it reviews its monetary policy later
The most-heaviest on the Sensex, Reliance Industries
fell by 1.14 per cent to Rs 1,065.45 and second heaviest
Infosys Technologies by 0.45 per cent to Rs 2,641. ICICI Bank
dropped by 2.80 per cent to Rs 852.55 and HDFC Bank by 2.04
per cent to Rs 1,721.
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