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Shares of oil and gas and information technology (IT) sectors have led the benchmark index over 1,300 points fall thus far in December 2014. Reliance Industries (RIL), Oil and Natural Gas Corporation (ONGC) and Gail India from oil and gas sector; Infosys, Tata Consultancy Services (TCS) and Wipro from the IT sector have collectively contributed 784 points or 58% of the total S&P BSE Sensex fall so far in the current month.
The S&P BSE Sensex that closed to 27,351 on Friday has lost 1,343 points from its record closing high of 28,694 on November 28.
Infosys, which fell 11% in past 10 trading sessions, dragged the Sensex down by 269 points during the period. RIL accounted 208 points fall in benchmark index, followed by TCS (128 points), ONGC (109 points), Gail India (38 points) and Wipro (32 points). All these stocks declined between 6-12%.
HDFC (145 points), Larsen & Toubro (100 points) and Bharti Airtel (60 points) from the other sectors, have contributed more than 50 points each in Sensex fall.
Stocks sensitive to crude prices and global growth have taken a beating, weighing the concerns over global growth outlook. Markets are concerned about a global slowdown, as reflected in demand from major oil producing organisations.
ITC, the fast moving consumer goods (FMCG) major, however, contributed 220 points rise in the benchmark index. The stock rallied nearly 10% during the period.
On the other hand, banking stocks such as Axis Bank, State Bank of India and ICICI Bank have collectively accounted 65 points rise in Sensex.
