Mumbai: The Bombay Stock Exchange benchmark
Sensex on Thursday sharply declined by 344 points on heavy selling
by funds on expiry of current month contracts in the
derivatives segment amid weak global cues.
The 30-share index plunged by 344.02 points to close at
16,854.93 points, recording the biggest fall after November 3.
The key index moved between 17,202.51 points and
16,808.87 points during the day as investors offloaded pending
positions on expiry of the November month contract in the
derivatives segment.
The wide-based National Stock Exchange index Nifty fell
by 102.60 points to 5,005.55 points, after touching the day's
low of 4,986.05 points.
Selling pressure was more confined to banking, oil and
gas, consumer durables, realty and IT stocks.
Reliance Industries, the heaviest on the Sensex, fell 3.6
percent after the stock was converted into ex-bonus. IT major
Infosys fell by 1.92 percent, while largest private lender
ICICI Bank declined 3.74 percent. The three stocks carry more
than 27 percent weightage on the benchmark.
In the 30-BSE index stocks, 26 scrips closed with losses.
A weakening trend in Asian markets and lower opening in
the European markets also weighed on investors sentiment.
Hong Kong's Hang Seng index declined 1.78 percent after
heavy fall in Chinese shares, while Singapore fell by 1.10 percent. The Japanese Nikkei dipped 0.62 percent to close at
four month low after yen's sharp rise against dollar.
PTI
First Published: Thursday, November 26, 2009, 18:32