Sensex closes 62 points lower

After resuming lower at 18,644.54, the 30-share index closed lower 62.24 points, or 0.33 per cent at 18,632.17.

The broader National Stock Exchange index Nifty also fell by 10.45 points, or 0.18 per cent, to 5,663.45.

Brokers said selling pressure emerged as investors indulged in squaring up their positions created in recent rally ahead of the settlement in September month contract in the derivatives segment tomorrow.

They said the sentiment was also dampened by weak global stock markets after Federal Reserve said the third round of bond buying may fail to stimulate economic growth.

Of Sensex stocks, 19 stocks declined led by Infosys, TCS, Dr Reddy, Larsen and Toubro, Bharti Airtel, HDFC, Maruti Suzuki and Coal India declined.

Shares of Industrial Finance Corporation plummeted 5.76 per cent to Rs 30.25, after losing 19 per cent at the outset after market regulator SEBI yesterday approved government raising its stake in the firm without triggering an open offer.

The metal sector index suffered the most by losing 1.17 per cent to 10,439.32 on poor cues from the London Metal Exchange.

Bucking the general weak trend, stocks of FMCG, healthcare, realty, oil and gas and consumer durable sectors ended with gains.