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Disappointing end to Samvat 2071; Sensex tumbles 378 points


Mumbai :The Samvat year 2071 ended on a weak note today with the benchmark BSE Sensex plunging by over 378 points to a six-week low of 25,743.26 on sustained foreign fund outflows amid muted overseas cues.

Moreover, tepid second quarter earnings and the defeat of the BJP-led NDA alliance in Bihar elections continued to have negative impact on the trading sentiment.

With markets ending in the negative terrain on the last session of the Hindu Samvat year 2071, the Sensex has dropped by 1,043.97 points or 3.89 per cent from the closing on Samvat 2070 (October 22, 2014). The NSE Nifty too registered a fall of 212.55 points or 2.65 per cent.

In a Samvat year, this is the third worst return given by Sensex in a decade.

After falling 469.19 points in the previous four days, the 30-share blue-chip index continued its slide and slipped below the 26,000-level to touched day’s low of 25,709.23. It finally settled 378.14 points or 1.45 per cent down at 25,743.26, its weakest closing since September 28.

The NSE Nifty cracked below the 7,800-mark by falling 131.85 points or 1.67 per cent to close at 7,783.35.
Apart from continued outflows by foreign funds, weaker-than-expected Q2 earnings posted by companies so far, dampened trading sentiment, brokers said.

Out of the 30-share Sensex, 23 scrips ended lower.

Major laggards were ONGC (4.90 pc), Dr Reddy’s (4.80 pc), RIL (3.96 pc), Lupin (3.92 pc), Coal India (3.76 pc), Vedanta (3.68 pc), BHEL (3.28 pc) and Sun Pharma (3.24 pc).

Bucking the trend, auto shares were in demand on strong performance during the ongoing festive season and robust sale numbers on Dhanteras yesterday.

Prominent gainers were Maruti Suzuki, Hero MotoCorp, Bajaj Auto and M&M that gained in the range of 1.13-1.68 per cent.

Sectorwise, BSE oil&gas index fell the most by falling 3.77 per cent, followed by metal 2.78 per cent, healthcare 2.53 per cent and realty 2.42 per cent.

In step with overall trend, broader markets too displayed a weak trend with the mid-cap and small-cap indices ending up to 1.68 per cent lower.

There will be a special muhurat trading session on both stock exchanges in the evening tomorrow between 1745 hrs and 1845 hrs on account of Diwali.


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