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Sensex extends losses to 5th day; ends 71 points lower

Sensex extends losses to 5th day ends 71 points lower The BSE benchmark Sensex regained most of the steep losses it suffered in early trade, but still ended the day 71 points lower at 26,710.13 after a highly volatile trade amid continuing investor worries over global economy.

The 30-share BSE index resumed lower and immediately nosedived by 310 points to a low of 26,469.42. After moving in erratic fashion through the day, it finally settled at 26,710.13, a fall of 71.31 points or 0.27 per cent from its previous close, extending losses for the fifth straight day.

The barometer has lost 1,120.97 points or 4.03 per cent in five days of selling by investors.

The 50-issue Nifty of NSE also declined by 37.80 points or 0.47 per cent to end the day at 8,029.80.

Healthcare, realty, consumer durable, FMCG and auto segments registered losses, while metal and Oil & Gas attracted good buying interest.

Foreign portfolio investors (FPIs), the main market mover, continued their selling spree as they sold shares worth Rs 1,247.24 crore yesterday, as per Sebi data, taking the total to Rs 3,327.67 crore in the last six days since December 9.

“Weak global cues, especially increased fears over financial crisis in Russia kept the global markets volatile…. there could be huge sell-offs from Russian markets by FIIs. Other emerging markets could also be subtly impacted.

“Indian rupee fell to its 13-month low of 63.89 against the US dollar as FIIs were seen exiting Indian and other emerging markets owing to heightened risk over Russia crisis,” said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio.

– PTI