Sensex ends lower by 129 points

Mumbai: The BSE benchmark Sensex ended lower by 129 pts for the second day today due to all-round selling at the current level on weak Asian cues following growth concerns in global economies, including China and the US. Shares of Metal, Power, Capital Goods, Auto and Realty sectors fell sharply on heavy selling.

Metal stocks fell as global metal prices declined on last Friday. LMEX, a gauge of six metals traded on the London Metal Exchange, fell 2.17 per cent on last Friday. Depreciaton of rupee against the dollar also affected the market sentiment as the rupee fell by 65 paise or 1.17 per pct to 56.07 during the intra-day trade.

Realty shares edged lower on profit booking after recent strong gains triggered by the Competition Commission of India directing cement firms last month to cease and desist from indulging in any activity. On macro front, the government will announce data on industrial production (IIP) for May on Thursday.

The Bombay Stock Exchange (BSE) sensitive index resumed lower at 17,449.93 and hovered in a range of 17,485.79 and 17,343.55 before settling the day at 17,391.98, showing a net loss of 129.14 points or 0.74 per cent from its last weekend`s level.

The NSE 50-share Nifty also fell by 41.80 points or 0.79 per cent to 5,275.15. Global stocks declined today after a string of negative global developments hit sentiment, including a disappointing US jobs report and weekend comments from Chinese Premier Wen Jiabao highlighting his nation`s economic pressures.

Asian stocks fell for a third day on today amid concern slower growth is damaging earnings and Japanese machinery orders fell more than expected following a disappointing US jobs report. Key benchmark indices in China, Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan fell by between 0.8 pct to 2.37 pct.

European shares were trading mostly lower in their early trade as key benchmark indices in Germany, UK and France were down by 0.29 per cent and 0.48 per cent. Trading in US index futures indicated that the Dow could fall 64 points at the opening bell today. Out the 30-share sensex family, 27 scrips ended in red while only three finished in green.

Major losers from the sensex pack were Hero Motoco (2.62 pct), Jindal Steel (2.56 pct), Tata Steel (2.32 pct), Bajaj Auto (2.30 pct), Maruti Suzuki (2.28 pct), Tata Power (1.98 pct), Sterlite (1.72 pct), Cipla (1.69 pct), Wipro (1.58 pct), Bharti Airtel (1.49 pct), Sunpharma (1.47 pct), HDFC (1.20 pct), Larsen (1.20 pct), Gail India (1.16 pct) and BHEL (1.08 pct).

Among the sectoral indices the BSE-Metal dropped by 1.55 pct, the BSE-Power 1.54 pct, the BSE-Capital Goods 1.25 pct, the BSE-Auto 1.12 pct and the BSE-Realty 1.05 pct. Small-cap and mid-cap indices also declined by 1.06 pct and 1.20 pct due to selling from retail investors. The market breadth continued to remain weak as 1,772 stocks finished with losses while 1,096 ended with gains. The total turnover fell to Rs 1,818.07 crs from the last Friday`s level of Rs 2,111.63 crs.