SME Times News Bureau | 22 May, 2013
Sliding for the third day, the Bombay Stock Exchange (BSE) benchmark Sensex on Wednesday fell by 49 points to close at a fresh one-week low, dragged down by a 6 per cent slump in L&T after its quarterly results failed to meet market expectations.
After a better start at 20,220.35, the 30-share index fell by 49.37 points, or 0.25 per cent to 20,062.24.
It had lost 174 points in the last two sessions.
Similarly, the National Stock Exchange index Nifty fell below the crucial 6,100 level by losing 19.60 points, or 0.32 per cent, to 6,094.50.
Also, MCX-SX flagship index SX40 closed down by 20.32 points, or 0.17 per cent, at 11,861.05.
Brokers said sentiment turned bearish as engineering major Larsen and Toubro's fourth quarter earnings missed the market estimates and its stock suffered a heavy loss of 5.57 per cent to close at Rs 1,517.10.
They said a weakening rupee against the dollar and bearish trend in European region before Federal Reserve testifies on the outlook for the US economy further influenced the market sentiment.
Out of the 30 shares, 16 stocks declined led by L&T, Tata Power and HeroMoto Corp.
The capital goods sector index dropped the most by losing 3.67 per cent to 9,953.99 followed by Realty index by 3.47 per cent to 1,897.52.
Oil and Gas index fell by 0.98 per cent to 8,794.51 and power index by 0.69 per cent to 1,802.89.
