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Business EconomyPosted at: May 4 2016 5:45PM


Sensex ends negative at 25,101.73 for third consecutive day

Mumbai, May 4 (UNI) The BSE Sensex fell today by 127.97 points to
end negative for the third day in a row at 25,101.73 on weak global
cues.
The Nifty of National Stock Exchange (NSE) also shed by 40.45
points to 7,706.55.
The Sensex was under pressure following slowdown in growth in
the services sector.
The Sensex edged lower by 79.16 points to 25,150.54 in early
trade. It then fell further by 149 points to hit day's low of
25,061.04 in noon trade. It recovered slightly from day's low to
close at a thee-week-low of 25,101.73, sliding by 127.97 points as
compared to its last close.
Losses for metal stocks, public sector banks and index
heavyweight ITC led losses for the two key benchmark indices.
In sectoral indices, Metal was worst hit, down by more than
three per cent. Materials, Industrials too lost more than two pc.
Scrips of Adani Ports crashed by nearly 12 pc to Rs 207.65.
Tata Motors, Tata Steel, BHEL and ICICI Bank also dragged the market
down.
The broad market depicted weakness. There were more than two
losers against every gainer on BSE. Altogether 1,776 shares declined
and 791 rose while 120 were unchanged.
The BSE Mid-Cap index lost 1.22 pc. The BSE Small-Cap index
shed 0.98 pc. The losses for both these indices were higher than the
Sensex's decline in percentage terms.
A total turnover on BSE amounted to Rs 2,478 crore, compared
with a turnover of Rs 2,736.89 crore registered during the previous
trading session.
In overseas stock markets, European stocks reversed initial
gains on concerns about global economic slowdown. Earlier during the
global day, most Asian stocks edged lower amid renewed global growth
concerns in the wake of weaker-than-expected Chinese manufacturing
data.
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