Indian rupee, US Fed taper drags BSE Sensex down to worst week in over 3 mths, HDFC, RIL, shares hit

Nov 08 2013, 22:34 IST
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BSE Sensex fell 0.86 percent on Friday, posting its worst weekly performance since the week to Aug. 2. Reuters BSE Sensex fell 0.86 percent on Friday, posting its worst weekly performance since the week to Aug. 2. Reuters
SummaryBSE Sensex posts worst week in over three months; bluechips HDFC, RIL, TCS shares fall.

The BSE Sensex today fell by 157 points, the fourth drop in a row, on heavy selling in bluechips like HDFC Ltd, Reliance Industries (RIL), Tata Consultancy Services (TCS) and Maruti Suzuki India after Indian rupee slid further amid a downtrend in global markets.

BSE Sensex, which had lost 417 points in the past three sessions, fell further by 156.62 points, or 0.75 per cent to 20,666.15, after touching the day's low of 20,600.90. In the 30-share index, 21 stocks like State Bank of India (SBI), ICICI Bank, Oil & Natural Gas Corp (ONGC), Coal India, Bharti Airtel, ITC Ltd, Infosys Ltd and Sun Pharmaceuticals Industries ended in red.

Markets Top Gainers, Markets Top Losers

Brokers said the market, which is worried about economic slowdown, remained under pressure as the rupee dropped to a six-week low of 62.75 versus dollar, raising concerns about inflation which may force RBI to look at hiking rates again.

Sensex graphs November 8

Indian stocks were also weighed down by a weakening trend in the Asian region and lower opening in Europe after faster-than-expected US economic growth fuelled concerns that the Fed may taper its stimulus quicker than most estimates.

For the week ended November 8, Sensex fell by 531 points or 2.5 per cent -- the biggest such drop since the week ended September 27 when it slid down 567 points or 2.65 per cent.

The broad-based NSE Nifty fell by 46.50 points, or 0.75 per cent, to end at 6,140.75 led by banking and interest-sensitive stocks. Also, the SX40 index of MCX-SX fell 119.6 points to end at 12,273.64.

Sectorally, the BSE Consumer Durable index was the major loser today as it plummeted 2.04 per cent, followed by Banking index (1.27 per cent), Oil and Gas index (1.19 per cent), PSU index (0.69 per cent) and Auto index (0.45 per cent).

Sensex graphs November 8

BSE Sensex posts worst week in over three months, TCS, banks shares fall

(Reuters) BSE Sensex fell for a fourth consecutive session to post its worst weekly fall in more than three months today as profit-taking continued to hit blue chips such as Tata Consultancy Services (TCS) after the benchmark index hit a recent record high.

The BSE index fell 0.86 percent on Friday, posting its worst weekly performance since the week to Aug. 2.

Markets Top Gainers, Markets Top Losers

The broader NSE Nifty ended down 0.86 percent.

HDFC Ltd fell 3.7 percent while Tata Consultancy Services dropped 1.6 percent.

Sensex graphs November 8

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