ITC, RIL & ICICI Bank drag Sensex down by 91 points to 1-month low

Feb 06 2013, 01:07 IST
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SummaryExtending losses for the fourth straight day, the BSE benchmark Sensex on Tuesday fell over 91 points to end at a month low of 19,659.82 due to selling in ITC, RIL and ICICI Bank amid weak Asian cues.

Extending losses for the fourth straight day, the BSE benchmark Sensex on Tuesday fell over 91 points to end at a month low of 19,659.82 due to selling in ITC, RIL and ICICI Bank amid weak Asian cues.

All-round selling was seen in 12 out of 13 sectoral indices, while only healthcare ended with gains as pharma counters saw some buying. The Bombay Stock Exchange 30-share barometer resumed weak and remained in the negative zone throughout the day, moving in a narrow range of over 85 points.

With 19 of the 30-share Sensex ending with losses, the index settled down by 91.37 points, or 0.46%, at 19,659.82 — the lowest closing since January 1, when it had ended at 19,580.81. The index has tumbled by 345.18 points, or 1.73%, in the past four sessions. “Indian markets succumbed to profit booking on the back of weak international cues,” said Nagji K Rita, CMD, Inventure Growth & Securities.

Similarly, the CNX Nifty of the NSE dipped 30.35 points, or 0.51%, to a three-week low of 5,956.90. Consumer durables, FMCG, power, metal, oil & gas and banking stocks mainly suffered sharp to moderate losses. ITC, RIL, ICICI Bank and Tata Motors declined in the 1.1-1.6% range, extracting over 80 points from the Sensex. Bhel was the worst Sensex performer as it lost over 3.1%.

However, Sun Pharma was up 4% after USFDA approved its generic version of ovarian cancer drug, Doxil. Weak closing in Asia on the back of a steep fall on the Wall Street on Monday on euro zone worries, affected domestic markets, said brokers. Hong Kong's Hang Seng fell 2.32% and Japan's Nikkei dropped 1.93% while Taiwan's weighted index and Korea's KOSPI lost around 1%each.

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