Realty, auto scrips bear brunt

Nov 02, 2010 |

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Mumbai, Nov. 2: Stock market benchmark Sensex closed marginally down on Tuesday, after the RBI increased key short-term lending and borrowing rates to rein in high inflation, a step which Dalal Street pundits said was in line with expectations.

The Bombay Stock Exchange’s 30-share barometer, which rose over 300 points in previous trade, ended the session lower by 9.94 points, or 0.05 per cent, at 20,345.69, with the maximum loss caused by RIL, HDFC and DLF. Among real estate companies, DLF plunged 3.28 per cent, the most on Sensex. Realty index was the biggest loser among the 13 sectoral indices on the BSE. The rate hike also affected interest rate sensitive auto stocks, dragging the auto index on the BSE down by over 52 points.

Reacting to the banking regulator’s move, shares of most of the major auto companies ended in a weak terrain, with Tata Motors shedding the most.

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