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| Sensex tanks 354 pts on monsoon woes |
| BS Reporter / Mumbai Aug 08, 2009, 00:02 IST |
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Stock market indices fell today on concerns over scanty rainfall affecting India’s gross domestic product (GDP) growth.
The Bombay Stock Exchange (BSE) FMCG index was the worst performer of the week. It lost 6.71 per cent. It was followed by realty (5.93 per cent), auto (4.49 per cent), Bankex (4.42 per cent) and power (4.12 per cent).
“Markets today witnessed a sharp selloff due to monsoon worries, which affected auto stocks,” said Manish Sonthalia, fund manager, Motilal Oswal Securities.
The Bombay Stock Exchange Sensitive Index, or Sensex, closed at 15,160.24, down 353.79 points, or 2.28 per cent. The index has lost around 743 points in the last two trading days. The CNX Nifty slumped to 4,481.40, down 104.10 points, or 2.27 per cent.
US markets dropped on Thursday ahead of the July job data. The Dow was down 0.27 per cent and the Nasdaq slipped 1 per cent.
Asian markets ended on a low note. The Hang Seng fell 2.51 per cent, taking cues from a sharp slide in Chinese markets due to liquidity worries, while the Shanghai Composite slumped 2.85 per cent. The Straits Times declined 2 per cent. The Nikkei, however, ended at a fresh 10-month high by rising 0.23 per cent.
Today, all sectoral indices ended in the negative zone, with the consumer durables index leading the fall. The index slumped 3.92 per cent.
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