Sensex down 107 pts in volatile trade on growth concerns
The Bombay Stock Exchange benchmark Sensex on Wednesday fell for the fifth straight session losing 107 points amid weak corporate earnings and a roll-back in petrol prices, while a firm trend in European equities restricted losses.
Capital goods, power and refinery stocks led the fall. The Sensex, which had dropped 686 points in last four trading sessions, fell another 106.80 points to 16,775.87, after touching day's low of 16,641.65. Intra-day, it touched a high of 16,878.30.
The capital goods segment was the major loser as biggest power-equipment maker BHEL fell after data showed that it missed capacity-addition targets.
Refiners led by Sensex heaviest Reliance Industries following government decision to reduce gasoline prices, raising fears of a dent in their revenues.
The broad-based NSE index Nifty fell 38.05 points to 5,030.45, after dipping to 4,989.50 in early stage.
However, the falling trend was cushioned on gains as the cut in petrol prices might check falling the vehicle sales. M&M rose 1.89 per cent, Tata Motors by 0.47 per cent and Bajaj Auto by 0.78 per cent.
Of the 30 BSE stocks, 19 declined while 11 ended in the positive zone. The capital goods sector suffered the most -- down 3.88 per cent, followed by power index by 2.02 per cent. The oil and gas index lost 1.27 per cent.
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