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Markets closed today for Ramnavami

The Sensex fell for the fifth straight session on Monday to 19,262, losing 189 points on sustained selling on slow growth in industrial production and a weak global trend.

ITGD Bureau | April 12, 2011 | Updated 12:10 IST

The stock, bond and foreign exchange markets are closed on Tuesday on occasion of 'Ramnavami'.

The Sensex fell for the fifth straight session on Monday to 19,262, losing 189 points on sustained selling on slow growth in industrial production and a weak global trend amid high crude oil prices.

The 30-share Bombay Stock Exchange benchmark, which had lost nearly 250 points in the last four sessions, fell further by 188.91 points to 19,262.54, on sell-off in stocks of realty, auto, consumer durables and refinery sectors.

The broad-based National Stock Exchange index Nifty also fell 56.30 points to close below the crucial 5,800 level on Monday at 5,785.70 in its longest losing streak in two months.

Trading sentiment had dampened following reports that the industrial growth slowed to 3.6 per cent in February, compared to 15.1 per cent expansion in the year-ago period.

The realty sector index had suffered the most - losing 2.52 per cent to 2,402.15, as any rise in interest rate would slow demand for homes, while auto index lost 2.15 per cent at 9,194.67.

The oil and gas sector index lost 1.59 per cent to 9,928.18, as the sector major and most heaviest on the Sensex Reliance Industries lost Rs 17.10 at Rs 1,007.15.

The banking index fell 0.72 per cent to 13,203.77 on fears that any further hike in interest rates would trim borrowing business. HDFC Bank fell Rs 55.85 to Rs 2,296.30 and HDFC Ltd. by Rs 19.05 to Rs 690.10.

Investors were seen reducing holdings ahead of a holiday on Tuesday for 'Ramnavmi' and another on April 14 for 'Dr Babasaheb Ambedkar Jayanti'.

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