MUMBAI: In volatile trading, the Bombay Stock Exchange benchmark fell for the second day today losing 111 points after a surprise rate hike in China spooked Asian peers and Coal India mega IPO continued to drain out funds.
The 30-share barometer dropped by 110.98 points to close at 19,872.15 on brisk selling in heavy-weight stocks led by metal, realty and consumer durables. It shuttled between 19,822.66 and 20,043.82 points during the day.
The index had lost 186 points yesterday. Similarly, the broad-based National Stock Exchange index Nifty lost 45.20 points to settle below the crucial 6,000 level at 5,982.10 points.
General investors and major players encashed every rise in the market to drain out funds for investing in the ongoing mega Coal India IPO, brokers said.
Selling pressure further deepened on weakening global trend after surprise rate hike by China, for the first time in three years, raised concerns over slowdown in global economic recovery, they added.
Asian equities fell today after China raised one-year lending and deposit rates by 25 basis points, boosting borrowing costs for the first time since 2007. A gauge of raw-material producers in the MSCI Asia Pacific Index dropped 1.1 per cent.
Metal stocks were major losers on fears that demand from the largest consumer of base metals, China, might plunge. The impact was also noticed on banking stocks.
The metal sector index lost 2.22 per cent, the most among 13 sectoral indices, to close at 16,892.14 points. Sterlite Industries, the biggest copper and zinc producer, dropped by Rs 6.25 to Rs 170.25 as raw material prices declined.
However, a rise in stocks of capital goods, healthcare and refinery sectors saved the market from any major fall.
The heaviest in the Sensex, Reliance Industries, rose by Rs 4.85 to Rs 1,048.70 and second-heaviest Infosys by Rs 6.95 to Rs 3,019.25. The two carry nearly 23 per cent weightage in the Sensex.
In 30-BSE index components, 21 closed with losses while other nine ended in the positive zone.
Read more: Sensex falls by 111 pts on weak global trend - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-falls-by-111-pts-on-weak-global-trend/articleshow/6780701.cms#ixzz12xmOVsxQ
The 30-share barometer dropped by 110.98 points to close at 19,872.15 on brisk selling in heavy-weight stocks led by metal, realty and consumer durables. It shuttled between 19,822.66 and 20,043.82 points during the day.
The index had lost 186 points yesterday. Similarly, the broad-based National Stock Exchange index Nifty lost 45.20 points to settle below the crucial 6,000 level at 5,982.10 points.
General investors and major players encashed every rise in the market to drain out funds for investing in the ongoing mega Coal India IPO, brokers said.
Selling pressure further deepened on weakening global trend after surprise rate hike by China, for the first time in three years, raised concerns over slowdown in global economic recovery, they added.
Asian equities fell today after China raised one-year lending and deposit rates by 25 basis points, boosting borrowing costs for the first time since 2007. A gauge of raw-material producers in the MSCI Asia Pacific Index dropped 1.1 per cent.
Metal stocks were major losers on fears that demand from the largest consumer of base metals, China, might plunge. The impact was also noticed on banking stocks.
The metal sector index lost 2.22 per cent, the most among 13 sectoral indices, to close at 16,892.14 points. Sterlite Industries, the biggest copper and zinc producer, dropped by Rs 6.25 to Rs 170.25 as raw material prices declined.
However, a rise in stocks of capital goods, healthcare and refinery sectors saved the market from any major fall.
The heaviest in the Sensex, Reliance Industries, rose by Rs 4.85 to Rs 1,048.70 and second-heaviest Infosys by Rs 6.95 to Rs 3,019.25. The two carry nearly 23 per cent weightage in the Sensex.
In 30-BSE index components, 21 closed with losses while other nine ended in the positive zone.
Read more: Sensex falls by 111 pts on weak global trend - The Times of India http://timesofindia.indiatimes.com/business/india-business/Sensex-falls-by-111-pts-on-weak-global-trend/articleshow/6780701.cms#ixzz12xmOVsxQ
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