Sensex Loses 122 Points

29 November 2011 - Which Way to Pay

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Sensex Loses 122 Points

The BSE benchmark index Sensex lost over 122 points in early trade this morning as new selling pressure mounted in realty, refinery, IT, PSU and metal stocks as foreign capital persistently flows out regardless of strong global signs.

The 30 share Sensex fell to 15,995.57 points within the first minutes of trade opening and by 10.15am had lost 122.01 points from close the previous day, a loss of 0.75%. The 50 share Nifty index of the NSE also saw losses, falling 33.75 points, 0.7%, taking the index down to 4,817.55 by the same time.

Over the last few days, selling by foreign funds has remained steady data shows, which are weighing on trading confidence. Reliance Industries (RIL) saw particular losses of 2.43% following an announcement from the company that it had begun arbitration proceedings against the government over the matter of its rights to recovery of the company’s whole expenditure on the KG-D6 gas block from revenues.

Asian markets were on the whole higher in early trade today, continuing the winning streak seen in the last several trading sessions as sentiment overt the eurozone debt crisis climbs as a resolution is hoped for.



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