Mumbai: The BSE benchmark Sensex continued its downslide for the fourth week in a row, shedding another 140 points to finish at 16,152.75 due to persistent selling pressure in view of various negative external as well as internal factors.
Global debacle on eurozone worries amid rupee falling to fresh historic low cast a pall over the benchmark Sensex which tumbled below 16,000-mark after four months.
The main reason for the world stock markets disaster was Greece which failed to form a government, pushing the country to new elections amid concerns that elections will ultimately lead to the country leaving the eurozone, sending global stocks to a tail-spin.
Asian shares fell steeply on eurozone debt worries after more signs emerged of growing instability among Spanish banks and political turmoil in Greece with the latest sluggish economic data from the United States adding to the list of risks for investors.
Internal factors like rise in inflation (WPI), retail inflation and fiscal deficit amid falling Indian rupee to a new historic low further aggravated the situation. High inflation dashed hopes of rate cut by the central bank.
Inflation, as measured by the Wholesale Price Index (WPI), moved up to 7.23 percent in April from 6.89 percent in March on account of spurt in prices of vegetables, meat, milk and pulses, although onion and fruits showed a declining trend. Retail inflation also spurted to double digit mark to 10.36 percent in April from 9.38 percent in March.


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