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Sensex fails to maintain last week gains, drops 108 points

Sensex failed to maintain last week's gains and shed 108 points due to selling pressure mainly in auto, metal and banking sectors from operators and investors on fears of likely interest rate hike by RBI and weak global cues.

twitter-logo PTI   Mumbai     Last Updated: June 11, 2011  | 14:43 IST

The BSE benchmark Sensex failed to maintain last week's gains and shed 108 points due to selling pressure mainly in auto, metal and banking sectors from operators and investors following cautious approach on fears of likely interest rate hike by RBI and weak global cues.

The 30-share barometer lost 107.94 points, or 0.59 per cent to end the week at 18,268.54.

The 50-scrip S&P CNX Nifty index on the NSE also declined by 30.95 points, or 0.56 per cent to settle below the 5,500-mark at 5,485.80.

However, the BSE Small-Cap index rose 49.77 points, or 0.60 per cent to 8,288.46 and the BSE Mid-Cap index gained 2.14 points, or 0.03 per cent to close at 6,898.28.

Global stock markets fell after Federal Reserve Chairman Ben Bernanke said US economic recovery was proving to be "uneven" and "frustratingly slow".

Political worries following reports that the DMK, a key UPA ally at the Centre, may opt to withdraw Ministers from the Cabinet also affected the market sentiment.

Bike major Hero Honda fell by 7.25 per cent to 1,723.95 on reports that the strike by workers of Maruti Suzuki India 's plant at Manesar in Haryana could spread across the auto belt of the northern state. Shares of Maruti fell 0.31 per cent to Rs 1,229.75. The related photos, videos and audio you download as part of the package will reflect on your total permitted count.

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