Sensex Stock Exchange down by 119 points

Mumbai, Aug 13: The Sensex declined for the second consecutive day on Wednesday, Aug 13 on the Bombay Stock Exchange, down by 119.01 points to end in the red at 15,093.12 on sustained heavy offloading by Domestic institutional Investors due to weak global cues.

In Europe, key indices in UK, France and Germany were down 0.65 per cent to 0.79 pc. Asian markets were weak and Key benchmark indices in Hong Kong, Japan, South Korea, Singapore, China and Taiwan were down between 0.02 pc to 2.11 pc. The BSE's Sensex and Nifty index of NSE indices have crashed by 410.80 points and 91.35 points respectively in the last couple of days. The key benchmark indices were highly volatile throughout the session ahead of the outcome of the Securities and Exchange Board of India's board meet later today to review the rules regarding the issuance of participatory notes, a leading broker said.

Sell off in global markets on the back of renewed worries in US financial space also fuelled negative sentiments.

Private banking, realty, capital goods, telecom and power stocks witnessed selling pressure while buying was seen in pharma and technology stocks.

Sensex was hovering in range of 15000-15200 and Nifty index of National Stock Exchange (NSE) was moving in range of 4500-4550.

Nifty fell 23.2 points or 0.51 pc to end at 4529.05.

Banking stocks were under selling pressure as private banking space got hammered a lot as its ADRs declined sharply.

Bankex underperformed other indices, slipped 165.87 points or 2.23 pc to settle at 7,271.40. Bank of Baroda, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Andhra Bank, Karnataka Bank, IndusInd Bank and Canara Bank lost between 2 to 4.6 per cent.

The market breadth, which was strong earlier, turned negative by mid-afternoon trade. On BSE, 1246 shares advanced as compared to 1413 that declined. 88 shares remained unchanged.

BSE clocked a turnover of Rs 5052 crore as against Rs 5,874.74 crore.

UNI