Fed rate fears result, sensex lose 79 pts

Mumbai, Sept 07: The Bombay Stock Exchange Sensitive Index (Sensex) lost vital points, as the global indices weakened on account of fears of another interest rate hike by US Federal Reserve.

The BSE Sensex lost 79.36 points or 0.67, to close at 11,853.85.

Similarly the S&P CNX Nifty lost 22.70 points or 0.65 to end on 3,454.55.

The growth data in services sector and heavy labour cost in US, compounded the troubles, as the rate hike threat once again surged its head, in effect assisting the subdued performance on domestic bourses, said the traders.

Key benchmark indices in Asia including Singapore, Japan and Souith Korea all closed in the red.

The breadth too in the broader market turned negative with 1,294 scrips declining as against 1,246 scrips that advanced and 83 scrips that remained unchanged out of total 2623 scrips that traded the BSE counters today.

Amongst the BSE sectoral indices, except metals, Consumer Durables, and Auto, all closed in the red. The IT sector led the losers with a loss of 1.37 per cent, Health Care index was down by 1.21 per cent, FMCG and Oil&Gas were down by 1.05 per cent each whereas Consumer Durables, Auto and Metals were up by 0.42, 0.39 and 0.19 per cent respectively.

In an otherwise weak market, select side-counters spurted. Birla VXL, Media Video, Garware-Wall Ropes, Videocon Appliances, Sri Ganapathy Mills, Vesuvius Industries, Munjal Auto, Chembond Chemicals, DIC India, Machino Plastics, Amtek India, IndusInd Bank, Exide Industries, and Indian Resort Hotels rose between 7 - 20% for the day.

Major gainers on the BSE -30 sensex were HDFC up by 3.07 per cent to Rs 1,325.75, Maruti Udyog up by 2.20 per cent to Rs 913.05, Tata Motors up by 1.48 per cent to Rs 897.35, ACC up by 0.77 per cent to Rs 947.15, L&T up by 0.70 per cent to Rs 2,572.55, Tata Steel up by 0.06 per cent to Rs 521.90, and Reliance Communications up by 0.03 per cent to Rs 301.45.

Besides the losers were Cipla down by 2.72 per cent to Rs 254.00, Bajaj Auto down by 2.09 per cent to Rs 2,775.45, Satyam Computers was down by 2.03 per cent to Rs 796.90, Wipro down by 2.02 per cent to Rs 511.80, HDFC Bank down by 1.62 per cent to Rs 848.70, HDFC Bank down by 1.62 per cent to Rs 848.70, Infosys down by 1.60 per cent to Rs 1,804.20, ITC down by 1.48 per cent to Rs 186.00, Hero Honda down by 1.15 per cent to Rs 710.95, Ranbaxy laboratories down by 1.14 per cent to Rs 410.20 and Reliance Industries down by 1.04 per cent to Rs 1,125.55.

UNI

Related Stories
Sensex down by 80 points in intra-noon trade