Mumbai: The BSE benchmark Sensex on Wednesday lost over 145 points to close at a fresh one-week low, pulled down by fag-end selling in bluechips, including RIL, M&M and Bajaj Auto, in line with weak trends in Asian and European markets. (Agencies)
Investors were seen adopting a cautious stance ahead of key economic data and the first quarter earnings season which will be kicked off by Infosys on Friday.
The 30-share index started the day slightly higher from its previous close at 19,489 but soon erased all gains as reports of fall in global markets trickled in. It finally ended down by 145.36 points, or 0.75 percent, at 19,294.12. This is Sensex's lowest closing level since 19,177.76 on July 3. The index had gained 114.7 points on Tuesday.
Similarly, the wide-based National Stock Exchange index Nifty lost 42.30 points, or 0.72 percent, to close at 5,816.70. Also, SX40 index, the flagship index of MCX-SX, closed 64.41 points, or 0.56 percent lower at 11,533.78.
Brokers said profit-booking by investors at high levels and fall in refinery stocks led by market major Reliance Industries and ONGC, mainly pulled down the market besides a weak global trend, following unexpected fall in China's export and import.
In global markets, FTSE 100 was down 0.45 percent, Nikkei 0.39 percent and Kospi ended lower by 0.34 percent on Wednesday.
Refinery stocks were also under pressure as the RBI asked state-run oil companies to purchase dollars from a single bank to avoid unwanted volatilities in the rupee, they said.
Market heavyweight Reliance Industries dropped 1.95 percent to Rs 856.35, ONGC by 1.79 percent to Rs 296.65 and GAIL by 0.80 percent to Rs 315.20. Out of the 30 BSE index components, 22 stocks fell led by Mahindra and Mahindra losing 2.63 percent to Rs 911.90. Among other major losers were Hindalco (2.58 percent), Bajaj Auto (2.13 percent) and Tata Steel (1.97 percent).
Sectorally, the oil and gas sector index suffered the most by losing 1.82 percent to 8,587.73 followed by auto index by 1.50 percent to 10,525.88. Realty sector index lost 1.32 percent to 1,490.75 and capital goods index by 0.98 percent to 9,177.90.
Mumbai: The BSE benchmark Sensex on Wednesday lost over 145 points to close at a fresh one-week low, pulled down by fag-end selling in bluechips, including RIL, M&M and Bajaj Auto, in line with weak trends in Asian and European markets.