BSE Sensex hits 1-1/2-mth closing low as banks, Cipla shares plunge, NSE Nifty down by 20
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However, Europe was trading higher in early trades as stock indices in France, Germany and UK were up marginally.
Back home, 18 out of 30 Sensex-based scrips closed down and 12 counters settled higher.
Major losers from the Sensex were Sterlite Ind (2.92 pc), NTPC (2.72 pc, Cipla (2.61 pc), Gail India (2.29 pc), Bharti Airtel (2.08 pc), Tata Power (1.97 pc), Tata Steel (1.66 pc), Hero MotoCorp (1.65 pc), Jindal Steel (1.37 pc), BHEL (1.22 pc), L&T (1.22 pc), SBI (1.02 pc) and ICICI Bank (0.84 pc).
However, M&M rose by 1.26 per cent, followed by TCS (1.20 pc), Tata Motors (0.89 pc) and Infosys (0.56 pc).
Among the sectoral indices, the BSE-CD dipped by 3.34 per cent, followed by BSE-Realty (1.47 pc, BSE-Power (1.39 pc), BSE-Metal (1.16 pc) and BSE-CG (1.12 pc).
The market breadth turned negative with 1,378 shares losing ground as against 799 finishing up. 786 stocks were unchanged.
The total turnover was relatively up at Rs 2,189.41 crore from Rs 2,097.69 crore yesterday.
Foreign institutional investors continued their buying spree by investing a net Rs 1,137.95 crore yesterday as per provisional data from the stock exchanges.
Sensex declines 59 points on economic growth concerns
(Reuters) - Indian shares fell on Thursday to their lowest close in one-and-a-half months, led by a decline in banking stocks, after government estimates showed India's FY13 growth could be worse than expected, while drugmaker Cipla Ltd dropped after its October-December net profit missed estimates.
India's slowest growth in a decade could be worse than anticipated preliminary data released on Thursday showed. The economy is set to grow 5.0 percent in the fiscal year ending next month, compared with central bank's forecast of 5.5 percent. Caution also prevailed as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's views on the region's growth outlook.
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