Sensex Hits 2 Year Low

Tuesday, 20 December 2011, 00:46 IST
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Sensex Hits 2 Year Low
Mumbai: The Bombay Stock Exchange benchmark Sensex fell to nearly two-and-half-year low, down 112 points, on persisting concerns over slowdown in growth and the weakening rupee amid a declining trend in global markets. After losing 511 points in the past three sessions, the 30-scrip Sensex fell another 112.01 points or 0.72 percent to 15,379.34 the lowest level since August 21, 2009. The gauge touched the day's low of 15,190.74 points before recovering some lost ground. Sensex has sunk 26 percent this year. Similarly, the broad-based National Stock Exchange Nifty index declined by 38.50 points or 0.83 percent to 4,613.10. It touched the day's low of 4,555.90. Marketmen said the stock market decline continued because of investors' concerns about slowing economic growth, falling rupee and weak global markets in view of euro zone debt crisis. They said the Asian markets were also down due to anxiety in the region in view of the death of North Korean leader. Besides, global credit rating agency Fitch said it may cut the creditworthiness of some European nations. The Sensex heavyweight Reliance Industries cushioned the fall by gaining 1.78 percent. In all, 21 counters closed with losses, while Wipro remained unchanged. The capital goods index suffered the most, losing 3.48 percent to 8,133.69, as L&T lost 4.06 percent. It has tumbled 24 percent in the past eight sessions. The banking sector was the second worst performer, down 3.08 percent to 9,130.56.
Source: PTI