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Rupee worries BSE Sensex, closes 156 points lower

Amid volatile trade, the 30-scrip BSE Sensex closed at 16,026.41 points - down 0.97 per cent, or 156.85 points, from its previous close of 16,183.26 points.

BT Online Bureau   Mumbai     Last Updated: May 22, 2012  | 18:31 IST

The BSE Sensex fell over 156 points as the Indian rupee tested a new low on Tuesday and metal, banking and power stocks came under intense selling pressure.

Amid volatile trade, the 30-scrip Bombay Stock Exchange (BSE) benchmark closed at 16,026.41 points - down 0.97 per cent, or 156.85 points, from its previous close of 16,183.26 points.

The Sensex touched a high of 16,366.72 points and a low of 16,000.84 intra-day. The midcap index of the BSE fell 34.45 points, while smallcap index closed 42.72 points down.

The wider 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.93 per cent lower at 4,860.50 points.

The rupee touched a fresh record low of 55.38 to the dollar, down 35 paise from previous close of 55.03 a dollar. The Indian currency has fallen over 6 per cent in one month and 24 per cent since April 4, 2011 (when it touched 44.50 a dollar).

The metal index was down 1.83 per cent followed by banking index - down 1.51 per cent, and power index - down 1.45 per cent. The realty index was down 1.23 per cent.

Major Sensex losers included Tata Power, down 5.29 per cent at Rs 90.45; Maruti Suzuki, down 4.50 per cent at Rs 1153.20; Sterlite Industries, down 3.96 per cent at Rs 95.80; State Bank of India, down 3.43 per cent at Rs 1938.50; and Hindalco Inds, down 2.99 per cent at Rs 107.

The only four Sensex gainers were Tata Motors, up 1.17 per cent at Rs 264.80; Tata Consultancy Services, up 1.17 per cent at Rs 1223; BHEL, up 1.04 per cent at Rs 208.60; and HDFC, up 0.24 per cent at Rs 642.60.

With IANS inputs

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