Sensex falls 163 pts amid volatile trade

In volatile trading, the Bombay StockExchange benchmark Sensex on Friday fell 163 points on heavy selling amid weakglobal markets , although retailers and developers gained following thegovernment's approval to FDI in the multi-brand retail sector .

The Sensex, which moved between 15,891.05 and 15,645.78,closed 163.06 points down at 15,695.43.

The broad-based National Stock Exchange index Nifty alsofell 46.40 points to 4,710.05, after touching the day's low of 4,693.10.

IT sector majors Infosys and TCS were among the big losers.Reliance Industries, with heaviest weight in the Sensex stocks, fell onincreased selling by funds.

The gauge had touched 2-year low this week on heavy foreigncapital outflow on fears of the deepening euro-zone debt crisis and slowingglobal economy. The European and Asian stocks remained weak and fanned selling.

However, Pantaloon Retail, Shopper's Stop and Trent gainedas the Cabinet approved 51 per cent FDI in multi-brand retailing and removedthe limit on single-brand retail.

The realty sector also cushioned the falling market afterstocks of DLF, Phoenix Mills, D B Realty, Oberoi Realty, Sobha Developers andPeninsula Land rose.

The capital goods sector gained the most by adding 2.64 percent to 9,533.52 as engineering major Bharat Heavy Electricals rose 3.45 percent, on reports of the stock upgrade. Larsen and Toubro shot up 3.40 per cent.

Of 30 Sensex stocks, 22 fell while eight ended with gains.