On Thursday, the Sensex lost 284 points in the last fourth trading sessions, opened lower and further to slide lower in line with the Asian markets. Declining for the fifth straight day, the BSE benchmark Sensex today ended 147.50 points lower at over 2-week low of 18,471.37 weighed drop by losses in metal and IT stocks amid of the weak global cues on persistent worries about the US fiscal problem. After reaching the day’s low of 18,408.69, stock markets finished slightly better at 18,471.37, remain down 147.50 points, or 0.79 per cent, over the Tuesday’s closing value, it was the lowest closing for the Sensex since 18430.85 on October30.
On the similar lines, the National Stock Exchange index eased 35.95 points, or 0.63 per cent to end at 5,631.
The brokers said that the trading sentiment dampened on a weak trend in the Asia and the lower opening in the European markets later. The IT sector gets a substantial stock of revenue,emerges from the US, suffered a heavy losses. Infosys, Wipro and TCS also down in 1.9-2.2 per cent range.
Metals stocks, which track in the Asian markets especially China, also lost. Tata Steel, which slumped 2.66 per cent, was the largest loser in the 30-share Sensex. Hindalco and Jindal Steel slid 1.8-2.3 per cent.
The traders said that the investor confidence was also achieve after the luke response to 2G telecom spectrum auction hit concerns over the fiscal deficit. However, the telecom stocks including Bharti Airtel, climbed up.