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BSE Sensex falls 298 pts on rupee woes, closes just above 16K

The 30-scrip BSE Sensex, which opened in the positive, closed at 16,030.09 points - down 1.83 per cent or 298.16 points from its previous close.

BT Online Bureau   Mumbai     Last Updated: May 16, 2012  | 18:35 IST

The BSE Sensex fell 298 points on Wednesday as concern over eurozone and a depreciating rupee weighed on sentiments. Metals, auto and consumer durable stocks came under intense selling on heavy funds outflow.

The 30-scrip Sensex of the Bombay Stock Exchange (BSE), which opened in the positive at 16,132.68 points, closed at 16,030.09 points, down 1.83 per cent or 298.16 points from its previous close of 16,328.25 points.

The Sensex touched a high of 16,132.68 points and a low of 15,974.60 points intra-day. The midcap index of the BSE rose 46.35 points, while smallcap index closed 70.43 points down.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange also closed 1.71 per cent down at 4,858.25 points.

Markets globally felt the impact of the political uncertainty in Greece, where efforts to form a new government collapsed on Tuesday.

Germany's DAX and Britain's FTSE fell 1 per cent, while France's CAC was trading flat at the time of closure here. Earlier, the Hang Seng and Kospi topped the selling list in Asia, going down 3 per cent each. Shanghai, Nikkei, Straits Times and Taiwan were also down.

During the day, the Indian rupee slumped to a record low of 54.42 to a dollar over rising concern over the fiscal deficit and poor economic outlook coupled with weak global cues.

Auto, metal, capital goods and banking shares were the worst performers.

The metal index fell 2.68 per cent or 274.87 points, auto index by 2.59 per cent or 252.61 points, consumer durables index slipped by 1.94 per cent or 128.67 points, capital goods index by 1.69 or 154.15 points, and banking index fell 1.65 per cent or 177.61 points.

Stocks of Tata Motors slumped 7.34 per cent at Rs 269 while those of Tata Steel dropped 3.89 per cent at Rs 401.55, and BHEL down 3.74 per cent at Rs 208.75.

Other major Sensex losers included HDFC, down 3.71 per cent at Rs 621.10; Hindalco Inds, down 3.28 per cent at Rs 110.45; Wipro, down 3.26 per cent at Rs 391.10; Jindal Steel, down 3.10 per cent at Rs 451.60; DLF, down 2.86 per cent at Rs 181.55; ICICI Bank, down 2.77 per cent at Rs 794.10; and Sun Pharma, 2.12 per cent at Rs 582.70.

The only two Sensex gainers were Sterlite Inds, up 0.87 per cent at Rs 98.65 and Bajaj Auto up 0.47 per cent at Rs 1616.50.

With IANS inputs

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