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Rediff.com  » Business » Sensex ends 4-day upmove, falls 33 pts

Sensex ends 4-day upmove, falls 33 pts

Last updated on: August 2, 2012 18:41 IST

Sensex ends 4-day upmove, falls 33 pts

Tracking weak Asian cues, the Sensex on Thursday declined by 33 points snapping four-day string of gains on selling in bank and oil&gas stocks amid lack of strong signals on monetary easing from the US Fed's two-day meeting.

The BSE benchmark index, which had gained 620 points in last four trading sessions, fell by 33.02 points, or 0.19 per cent to 17,224.36 after trading in narrow band.

Around 19 stocks including Tata Motors, ONGC, Cipla and SBI fell in the 30-share index while 11 scrips including NTPC, BHEL, Jindal Steel, ITC and Bajaj Auto rose. Other blue-chips RIL and Infosys also ended lower, providing little support.

Dealers said shares of banks, both private and public, largely fell after SBI cut home and auto loan rates, sparking fears that similar moves by others might hit margins.

The 50-share National Stock Exchange index Nifty fell by 12.75 points, or 0.24 per cent to 5,227.75. Second-line stocks continued to attract retail investors interest and the BSE-Smallcap and Midcap indices ended higher.

Global market participants were disappointed after the Fed refrained from announcing any new stimulus to boost the sagging US economy, traders said, adding that all eyes are now on the outcome of European Central Bank's meeting later today.

Key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan fell between 0.03 per cent to 0.79 per cent while Japan's Nikkei Average rose by 0.13 per cent.

However, European indices were trading higher in afternoon. "Volatility continues to remain low across the globe which indicates choppy markets," said Shubham Agarwal, Associate VP & Senior Technical Equities Analyst, Motilal Oswal Securities.

Meanwhile, rupee declined to 55.77 a US dollar on weak euro and Asian markets as against yesterday's close of 55.47. 


Image: Bombay Stock Exchange.
Photographs: Reuters.
Tags: SBI , BHEL , ONGC , NTPC , BSE

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