Sensex falls for 8th day, Bharti, HDFC among losers
The Sensex fell by 24.20 points, or 0.12 per cent, to 19,460.57, its lowest close since December 31, 2012. The index has now lost over 544 points in the last eight sessions – its longest losing streak since May 2011.
Gains in Sensex-based counters like HDFC Bank, Tata Motors, HUL, Cipla, RIL, Dr Reddy's Lab, Sterlite and Hindalco were nullified by losses in ITC, HDFC, L&T, ICICI Bank, ONGC, Bharti Airtel, TCS, Maruti Suzuki and Jindal Steel.
Brokers said continued selling pressure on weak GDP projections and absence cues from Asian markets following closure for Lunar New Year holidays influenced the market.
Trading was cautious ahead of IIP and WPI inflation data to be announced on Tuesday and Thursday respectively, they added. Consumer-based inflation will be out tomorrow.
The 50-issue S&P CNX Nifty of the NSE also eased by 5.65 points or 0.10 per cent to end below 5,900-mark at 5,897.85.
Shares from capital goods, IT and FMCG registered losses while those from realty, pharma and PSU closed with gains.
ONGC fell 1.61 per cent ahead of earnings. Maruti fell nearly 1.8 per cent amid domestic annual car sales set to be in the negative territory for the first time in a decade.
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