Sensex ends 333 points down at 9-month low, Nifty gives 100 pts


Mumbai: Distinctly weak global cues on fresh concerns over the economic recovery in euro zone had a negative rub-off on local bourses as the benchmark sensex tumbled by 333 points close below 18K-mark at 9-month low of 17,993.33 while Nifty finished below 5,400-mark. Increased capital outflows amid steep fall in capital goods giant, BHEL, and largescale offloading by operators and retail investors ahead of the expiry of May series on the coming Thursday too weighed heavily on the market. Last weekend, International rating agency, FITCH downgraded Greek''s debt rating while the another Standard & Poor''s downgraded outlook of the Italy''s rating, deepening worries over Europe''s sovereign debt crisis. Fall on Wall Street last Friday also took its toll on Asian stocks as waning investor appetite for risk, pushed the region''s bourses into the red and sparking a rush into safe-haven assets like government debt. As a result, Asian stocks today closed sharply lower while European markets too were trading sluggish in their mid-session trading. The Bombay Stock Exchange 30-share barometer commenced lower and gradually moved downwards to close at 17,993.33, a level not seen since March 22, 2011. The sensex ended weak by 332.76 points or 1.82 per cent after gaining 239.89 points in the last straight two trading sessions. Similarly, NSE 50-issue Nifty also dipped by 99.80 points or 1.82 per cent to end below 5,400-mark at 9-month low of 5,386.55.
Source: PTI