BSE Sensex closes at fresh 1-week low, down 145 points

BT Online Bureau   Mumbai     Last Updated: July 10, 2013  | 18:51 IST

The BSE Sensex lost over 145 points to close at a fresh one-week low on Wednesday, pulled down by fag-end selling in bluechips, including Reliance Industries (RIL), M&M and Bajaj Auto.

Brokers said profit-booking by investors at high levels and fall in refinery stocks led by market major RIL and ONGC, mainly pulled down the market besides a weak global trend, following unexpected fall in China's export and import.

Investors were also seen adopting a cautious stance ahead of key economic data and the first quarter earnings season which will be kicked off by Infosys on Friday.

The 30-share index of the Bombay Stock Exchange started the day slightly higher from its previous close but soon erased all gains as reports of fall in global markets trickled in.

It finally ended down by 145.36 points, or 0.75 per cent, at 19,294.12. This is Sensex's lowest closing level since 19,177.76 on July 3. The index had gained 114.7 points on Wednesday.

Similarly, the wide-based National Stock Exchange index Nifty lost 42.30 points, or 0.72 per cent, to close at 5,816.70. SX40, the flagship index of MCX-SX, closed 64.41 points, or 0.56 per cent lower at 11,533.78.

Market heavyweight RIL dropped 1.95 per cent to Rs 856.35, ONGC by 1.79 per cent to Rs 296.65 and GAIL by 0.80 per cent to Rs 315.20.

Of the 30 BSE index components, 22 stocks fell led by Mahindra and Mahindra losing 2.63 per cent to Rs 911.90. Among other major losers were Hindalco (2.58 per cent), Bajaj Auto (2.13 per cent) and Tata Steel (1.97 per cent).

Refinery stocks were also under pressure as the Reserve Bank of India (RBI) asked state-run oil companies to purchase dollars from a single bank to avoid unwanted volatilities in the rupee.

Sectorally, the oil and gas sector index suffered the most by losing 1.82 per cent to 8,587.73 followed by auto index by 1.50 per cent to 10,525.88. Realty sector index lost 1.32 per cent to 1,490.75 and capital goods index by 0.98 per cent to 9,177.90.

In global markets, FTSE 100 was down 0.45 per cent, Nikkei 0.39 per cent and Kospi ended lower by 0.34 per cent on Wednesday.

With inputs from PTI

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