Sensex-at-one-week-low-down-145-points

MUMBAI: The BSE benchmark Sensex on Wednesday lost over 145 points to
close at a fresh one-week low, pulled down by fag-end selling in
bluechips, including RIL, M&M and Bajaj Auto, in line with weak trends
in Asian and European markets.

Investors were seen adopting a cautious stance ahead of key economic
data and the first quarter earnings season which will be kicked off by
Infosys on Friday.

The 30-share index started the day slightly higher from its previous
close at 19,489 but soon erased all gains as reports of fall in global
markets trickled in.

It finally ended down by 145.36 points, or 0.75 per cent, at
19,294.12. This is Sensex's lowest closing level since 19,177.76 on
July 3. The index had gained 114.7 points on Tuesday.

Similarly, the wide-based National Stock Exchange index Nifty lost
42.30 points, or 0.72 per cent, to close at 5,816.70. Also, SX40
index, the flagship index of MCX-SX, closed 64.41 points, or 0.56 per
cent lower at 11,533.78.

Brokers said profit-booking by investors at high levels and fall in
refinery stocks led by market major Reliance Industries and ONGC,
mainly pulled down the market besides a weak global trend, following
unexpected fall in China's export and import.

In global markets, FTSE 100 was down 0.45 per cent, Nikkei 0.39 per
cent and Kospi ended lower by 0.34 per cent on Wednesday.

Refinery stocks were also under pressure as the RBI asked state-run
oil companies to purchase dollars from a single bank to avoid unwanted
volatilities in the rupee, they said.

Market heavyweight Reliance Industries dropped 1.95 per cent to Rs
856.35, ONGC by 1.79 per cent to Rs 296.65 and GAIL by 0.80 per cent
to Rs 315.20.

Out of the 30 BSE index components, 22 stocks fell led by Mahindra and
Mahindra losing 2.63 per cent to Rs 911.90. Among other major losers
were Hindalco (2.58 per cent), Bajaj Auto (2.13 per cent) and Tata
Steel (1.97 per cent).

Sectorally, the oil and gas sector index suffered the most by losing
1.82 per cent to 8,587.73 followed by auto index by 1.50 per cent to
10,525.88. Realty sector index lost 1.32 per cent to 1,490.75 and
capital goods index by 0.98 per cent to 9,177.90.