Sensex Sinks 313 Points On Earnings Worries, Fed Fears


Vedanta lost most among Sensex and Nifty stocks, which tumbled 3.59 per cent to Rs 200, as Goldman Sachs said in its report that copper demand will fall in coming 12 months on weak commodity demand growth in China, lower oil prices and a a stronger dollar.

Other major losers were HDFC, Tata Steel, GAIL, Cipla, Tata Motors, SBI, Coal India, Dr Reddy's Lab, Hindalco, Axis Bank, L&T, Hind Unilever, Tata Power, Infosys, RIL, NTPC, TCS, Hero MotoCorp, ICICI Bank, Bajaj Auto, HDFC Bank and BHEL.

The broader markets too saw profit-booking by investors.

The BSE smallcap index ended the day with a fall of 0.22 per cent while the midcap index was down 0.08 per cent.

A weak trend at European markets in the morning session and a hardening dollar after the U.S. Federal Reserve indicated that the central bank is on track to raise interest rates this year dampened sentiment.

Sector-wise, BSE metal index suffered the most by falling 1.70 per cent, followed by FMCG (1.62 per cent), capital goods (0.87 per cent), IT (0.74 per cent), banking (0.69 per cent), healthcare (0.60 per cent), realty (0.45 per cent), auto (0.28 per cent) and power (0.16 per cent).

Last Friday, foreign portfolio investors and domestic institutional investors (DIIs) net bought shares worth 211.42 crore and 237.62 crore, respectively, according to provisional stock exchange data.

 

Source: PTI