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03-20-2012, 09:59 AM #1
BSE Sensex down 193 pts on Budget blues
The BSE benchmark Sensex on Monday fell 193 points to 17,273.37 , on sustained selling by funds against the backdrop of uninspiring budgetary proposals last weekend and a weak global markets.
Realty, power and capital goods sectors continued to slide as the stock market remained bearish for the third session in a row with 24 of the 30 BSE index scrips remained in the negative territory.
Eleven of the 13 sectoral indices ended lower but FMCG and healtchare sectors bucked the trend.
Brokers said investors remained disappointed with the "uninspiring" Budget proposals for 2012-13 as it did not push economic reforms, especially FDI.
Besides, they added that a fiscal deficit of 5.9 per cent of the GDP for 2011-12 has worried investors.
Sensex, which had lost over 453 points in last two sessions, fell another 192.83 points, or 1.10 per cent to close the session at 17,273.37, a level last seen on March 7.
Similarly, the 50-issue National Stock Exchange index Nifty tumbled 60.85 points, or 1.14 per cent to 5,257.05.
Heavyweight RIL fell 2.21 per cent after production at its largest gas fields KG-D6 block hit all-time low.
The realty sector index was down 2.56 per cent at 1,752.25, followed by power index - 2.23 per cent to 2,142.59.
The capital goods index was down 2.14 per cent to 10,026.82.
Midcap index fell 0.96 per cent to 6,300.563 and smallcap index by 1.08 per cent to 6,632.28.