Mon, Jul 14 06:11 PM
Mumbai, Jul 14 (PTI) Markers remained weak for the third straight session today with the benchmark Sensex closing lower by nearly 140 points as concerns over unabated rise in inflation and abysmal growth in industrial production in May lingered on amid negative cues from Asian bourses. The 30-share barometer on BSE concluded the day at 13,330.51, a fall of 139.34 points, or 1.03 per cent, over last close.
The index moved erratically in a range of 13,559.36 and 13,269.62 during the day, reflecting volatility in trade. In the previous day's trade, over 450 points were shaved off from the bellwether index after investors resorted selling on inflation inching closer to 12 per cent at 11.89 per cent and Index of Industrial Production falling to 3.8 per cent in May.
The 50-issue Nifty on the National Stock Exchange also declined by 9.30 points, or 0.23 per cent, at 4,039.70 from last close. Marketmen said global crude oil prices, which remained high near USD 144 a barrel, also continued to have a negative impact sentiments IT counters suffered a sharp setback on heavy offloading following rupee's gain.
Software bellwether Infosys on Friday while releasing its first quarter results had also indicated at tough business environment. FMCG, banking and pharma shares posted sharp to moderate falls on profit-selling, while PSUs, metal and refinery counters attracted good buying support.
After the Left parties' withdrawal of support to the Congress-led UPA government, most of the Public Sector Undertakings (PSUs) were at the forefront on expectations of reforms getting a boost. Most of the Asian indices ended in the red, while European markets resumed on positive note today.
PTI.
