Sensex down by 119.81 points

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Mumbai, Nov 27 (UNI) The Sensex today closed in the red at 19,127.73 on the Bombay Stock Exchange with a loss of 119.81 points on sustained heavy selling pressure by FIIs and local financial institutional investors.

The market ended lower after the rise in the past two sessions, due to losses in the US markets on renewed worries over the fallout from the US subprime mortgage crisis.

Banking and metal shares declined, while Realty and IT shares were in demand even as Mid-cap and small-cap stocks bucked the trend. The Market breadth was negative. 15 out of 30 stocks in the Sensex pack were in red. European markets, which opened after Indian market, were mixed.

In Europe, key indices in UK and France were up by between 0.06 pc to 0.24 pc. Germany's DAX index was down by 0.38 pc.

South Korea's Seoul Composite index was up by 0.24 pc and Japan's Nikkei 225 index was up by 0.58 pc. Key benchmark indices in Hong Kong, China, Singapore and Taiwan were down by between 1.3 pc to 1.97 pc.

The Dow Jones industrial average slid by 237.44 points, or 1.83 pc, to close at 12,743.44 yesterday. The Standard&Poor's 500 Index sank by 33.48 points, or 2.32 pc, to 1,407.22. The Nasdaq Composite Index was down by 55.61 points, or 2.14 pc, to close at 2,540.99 which affected to downward trend at the Indian bources, brokers pointed out.

Bargain hunting had triggered a surge on the domestic bourses in the past two trading sessions. Earlier, FII sales caused by redemption pressure in their home countries and fears of a US recession arising from housing slump and credit crisis had spooked stocks across Asia over the past few days.

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