Sensex closes 291.90 points in red

Agencies
Posted: Tuesday, Jun 30, 2009 at 1649 hrs IST
Updated: Tuesday, Jun 30, 2009 at 1649 hrs IST

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Sensex sheds early gains as RIL tumbles Sensex closes below 17,000 level Sensex nosedives by over 200 pts Sensex closes down 103 points

Mumbai: In choppy trade, the Bombay Stock Exchange benchmark Sensex tumbled nearly 2 per cent on profit-booking by investors ahead of the general Budget amid a weak opening at European markets.

The Sensex, which had gained over 121 points at the outset, fell 291.90 points to close at 14,493.84. It moved between 14,907.48 and 14,420.41 points following two-way movements in heavy-weight stocks.

Similarly, the 50-share National Stock Exchange index Nifty lost 99.85 points at 4,291.10, after moving between 4,426.75 and 4,267.35 points during the day.

Market-heaviest Reliance Industries fell 2.95 per cent to Rs 2,023.35, Infosys Technologies 0.38 per cent to Rs 1,776.90, ICICI Bank 3.57 per cent to Rs 722, BHEL 1.38 per cent to Rs 2,204.35, Tata Motors 7.23 per cent to Rs 291.15 and Sterlite Industries 6.01 per cent at Rs 607.85. All the six together carry nearly 40 per cent weight in the key index.

A weak start at European stock markets also influenced trading sentiment to some extent.

The current fall pared the gains in the benchmark, which had performed extremely well this quarter, traders said.

They said investors seen liquidated their holdings to raise funds for the coming initial public offerings (IPOs) led by Mahindra Resorts and Holidays.

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