Ummid Assistant

Jamia Millia launches courses on China, Afghanistan

IGNOU launches value education programme for teachers

Welcome Guest! You are here: Home Business & Economy

Sensex dips below 16,000; global cues, SBI downgrade weigh

Tuesday October 04, 2011 05:33:24 PM, IANS

Mumbai: A benchmark index for Indian equities Tuesday pulled up from the day's lows but still closed 289 points lower with wide-spread selling seen amid negative global cues and a rating downgrade for the country's largest lender State Bank of India.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,081.77 points, closed at 15,864.86 points, down 286.59 points or 1.77 percent from its previous close at 16,151.45 points.

It had fallen 406 points or 2.51 percent to an intra-day low of 15,745.43 points.

Adding to the woes of the markets was a downgrade of India's largest lender, State Bank of India (SBI), by credit rating agency Moody's, over the bank's ability to manage capital in the likelihood of rising non-performing assets.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended in the red at 4,772.15 points, down 1.6 percent.

Broader markets were also subdued. The BSE midcap index was down 1.28 percent while the BSE small cap index ended 1.09 percent lower. The BSE 500 index closed 1.55 percent down.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors were net sellers to the tune of $158.3 million.

Major losers on the 30-scrip Sensex were: Coal India, down 4.98 percent at Rs.319.75; ICICI Bank, down 4.59 percent at Rs.800.70; Tata Motors, down 4.35 percent at Rs.147.25; SBI, down 4.08 percent at Rs.1,786.70; and RIL, down 2 percent at Rs.772.40.

Prominent gainers included: Maruti Suzuki, up 2.73 percent at Rs.1,106.55; L&T, up 1.42 percent at Rs.1,337; Wipro, up 1 percent at Rs.334.30; and Tata Steel, up 0.65 percent at Rs.397.25.

Global markets continued to be under selling pressure over fears of a possible debt default by Greece and the financial crisis spreading to other countries in the Euro zone.

Among Asian bourses, the Japanese Nikkei closed 1.05 percent lower at 8,456.12 points, while the Hong Kong's Hang Seng index was down a whopping 3.4 percent at 16,250.27 points.

The Chinese markets were closed on account of a holiday.

European markets too opened lower.

While Britain's FTSE was ruling 2.86 percent down at 4,930.42 points, the German DAX was trading 3.63 percent lower at 5,181.57 points.

The French CAC 40 was ruling 2.95 percent down at 2,840.5 points.



 

 

 

 

 

Bookmark and Share

Home | Top of the Page

 

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

 

 

 

Top Stories

Misuse of power to suppress truth: Citizens on arrest of Gujarat DIG

A group of prominent citizens Monday condemned the arrest of Gujarat Police Deputy Inspector General   

Hazare flays arrest of Gujarat top cop Sanjiv Bhatt

Nazi schizophrenia at its worst: Cong on Gujarat IPS officer's arrest

Indian Americans condemn Gujarat IPS officer's arrest

 

  Most Read

Rudrapur communal violence: Town under curfew, death toll four

Indefinite curfew was imposed in Rudrapur town of Udham Singh Nagar district October 03 after four persons were killed and several injured following an alleged act of sacrilege that triggered  

Telangana protesters block Vijayawada-Hyderabad highway

Road transport between the Telangana and Andhra regions of Andhra Pradesh Tuesday came to a standstill with protestors, demanding a separate state of Telangana, blockading the national 

No PM assurance in hand TRS decides to intensify Telangana agitation

 

  News Pick

Outrageous article case: FIR against Subramanian Swamy

Janata Party president Subramanian Swamy Monday landed in trouble for his newspaper article, in which he suggested revoking  

Nobel medicine laureate Steinman dead: Rockefeller University

The US' Rockefeller University said its Canadian-born cell biologist Ralph Steinman died three days before being awarded the Nobel Prize Monday as 

Three share Nobel in Medicine

Planning Commission not to go by Tendulkar's poverty cap

The Planning Commission Monday clarified that it was not going by a set poverty line for allocation of subsidised food and supported an approach of giving benefits based on various economic factors.  

Rs.25 per day poverty tag irks Aruna Roy

 

Picture of the Day

Girl students of a local school displaying the post cards posted to the AMU VC appealing him to speed up the process for the establishment of AMU centre in Malegaon

(Photo: ummid.com)

 

 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Religion

RSS

Scholarships

About us

International

Culture

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

Career

     

Education

     

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.