Sensex ends down 354 pts as Oct IIP disappoints

Sensex ends down 354 pts as Oct IIP disappoints

Key share indices extended losses for the third straight day Monday on the back of disappointing Index of Industrial Production data for October.

The Bombay Stock Exchange’s 30-share Sensex provisionally closed at   15,859.31  down  354 points or 2.2%.  The National Stock Exchange’s 50-share S&P CNX Nifty provisionally closed at  4,761.95  down  104.75 points or 2.2%.

India’s October IIP contracted by 5.1% from a year earlier after a revised 2 per cent in September, the Central Statistical Office said.

The de-growth in industrial production is the most since March 2009 when it contracted 5.2%. The IIP data for October 2010 was 11.4 per cent.