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BSE Sensex plunges by 434.50 points

By Staff
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Google Oneindia News

Mumbai, Aug 21: The benchmark index of the Bombay Stock Exchange plunged by 434.50 points to close at 14,243.73 on inflation concerns, coupled with week sentiments in Asian markets. The Sensex opened in red at 14,646.98 and hit a day's low of 14,201.05, lost over 477 points from its previous close of 14,678.23 as investors were seen profit booking across the sector throughout the day, brokers said.

Meanwhile, the broader-based Nifty of National Stock Exchange dropped 131.90 points or 2.99 per cent to close at 4,283.85 following negative sentiments. Rate sensitive stocks including banking, realty and auto shares were hit badly on concerns of inflation. Globally, weak Asian markets also weighed on the sentiment as the oil prices headed towards higher levels at USD 118 per barrel.

BSE Mid-Cap index was down 2.04 pc to 5,707.46 and the Small-Cap index closed down by 1.83pc at 6,937.02. All the sectoral indices ended the day in red.

Bankex plunged 5.16pc, Realty dropped 5.05pc, PSU index declined 3.71pc, Power index shed 3.27pc, Capital Goods and Metal index fell by 2.95 per cent.

The market breadth was weak on BSE with 733 shares advancing, 1,915 scrips declined and 65 shares remained unchanged. A turnover of Rs 4,081 crore was quoted on BSE against Rs 4,254.87 crore in the previous close.

Index frontliners, State Bank of India fell by more than 7 per cent, followed by HDFC Bank, NTPC and DLF by 5.5 pc each, Reliance Infrastructure and ICICI Bank by more than 5 pc each and Reliance Industries by 1.42pc to Rs 2,212.35.

Realty index was the biggest loser among the sectoral indices on BSE. Indiabulls Real Estate fell 7.36pc to Rs 292.60, DLF was down 5.55pc to Rs 481.60 and Unitech declined 5.35pc to Rs 160.10.

Among other major losers, Bharat Heavy Electricals was down 3.75pc to Rs 1,669.85, Suzlon Energy shed 4.62pc to Rs 225.15 and Larsen&Toubro was down 3.19pc to Rs 2,628.15. Jaiprakash Associates dropped 4.78pc to Rs 163.20, HDFC was down 4.41pc to Rs 2,209.55 and Reliance Communications fell 3.98pc to Rs 398.35.

However, Ranbaxy Laboratories rose 1.53pc to Rs 513.40 and was the lone gainer from the Sensex pack.

UNI

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