Monday 13 October 2014

BSE Sensex, Nifty plunge on increased capital outflows


The benchmark Bombay Stock Exchange (BSE) index Sensex fell over 159 points in early trade on Monday on continued capital outflows by foreign funds and selling by retail investors after industrial production growth slowed to five-month low in August amid a weak global trend.
The 30-issue Sensex declined by 159.35 points (or 0.61 per cent), to 26,138.03 with realty, metal, auto, capital goods and banking stocks, leading the fall.
Brokers said selling activity gathered momentum on disappointing economic data as the country's industrial production growth slowed to a five-month low of 0.4 per cent in August.
The BSE barometer had plunged 339.90 points in its previous session on Friday.
Similarly, the National Stock Exchange (NSE) index Nifty moved down by 52.00 points (or 0.66 per cent), to trade at 7,807.95.
Besides, a cautious approach by participants ahead of quarterly earnings of bluechip company Reliance Industries (RIL), to be announced after market hours on Monday and a weak trend in other Asian markets, influenced trading sentiments in the domestic market.
Shares of RIL were down 0.72 per cent to Rs 953.40 in early trade.
Among other Asian markets, Hong Kong's Hang Seng index was down by 0.89 per cent, while Japan's financial markets are closed on Monday for a public holiday.
The US Dow Jones Industrial Average ended 0.69 per cent lower in Friday's trade.

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