Mumbai, June 9: The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) touched its lowest levels since October last year and ended in the red during the trade session on Tuesday. It closed the day’s trade 42 points or 0.16 percent down. This is the sixth straight session of the losses at the index. The wider 50-scrip Nifty of the tiol Stock Exchange (NSE) also closed the day’s trade in the negative zone. It ended 21.75 points or 0.27 percent down at 8,022.40 points.
The Sensex of the S&P BSE, which opened at 26,510.29 points, closed the day’s trade at 26,481.25 points, down 41.84 points or 0.16 percent from the previous day’s close at 26,523.09 points.
The Sensex touched a high of 26,604.65 points and a low of 26,446.50 points during the intra-day trade.
According to the alysts, concerns of a possible rate hike in the US and Greece debt crisis effected market sentiments negatively. “While Nifty opened on a negative note for the seventh straight day, banking stocks pushed higher as RBI (Reserve Bank of India) approved ‘strategic debt restructuring’ empowering banks to take control, if the borrower defaults,” said And James, co-head for technical research desk, Geojit BNP Paribas.
James elaborated that the possibilities of MSCI (Morgan Stanley Capital Intertiol), including Chi’s ‘A’ shares in MSCI EM (emerging markets) index, also weighed on the sentiments.
There is a possibility that India’s weightage in the index may be reduced as a result of the entry of Chinese stocks and thus effect capital flows. “Chi continued to remain in the headlines as data showed that factory prices sank in May, extending the decline for several consecutive months, improving chances of a stimulus,” James added.
Gaurav Jain, director, Hem Securities, said: “Markets continue its southward journey in line with the foreign portfolio investor sell-off.” (IANS)