BSE Sensex pares losses to end down 0.32 percent
The Bombay Stock Exchange (BSE) 30-share prime index, the Sensex, on Monday, weathered early losses of nearly 4 percent to end down 0.32 percent or 51.80 points at 15,923.72.
The benchmark index closed at 15,923.72 - its lowest close since mid-September, despite 16 components ending in the green. During intraday trade, the key index had plunged to the day's low of 15,362.17 or as much as 3.8 percent and saw a high of 15,998.33 points.
The biggest loser was engineering and construction major and Sensex heavyweight Larsen & Toubro (L&T) which lost as much as 12.5 percent before ending down 8.7 percent at Rs.2,728.80, its lowest in nearly six months, as news spread that L&T has taken a Rs.200 crore hit on commodity hedging deals transacted by its Sharjah-based subsidiary and Morgan Stanley cut its share price estimate on the company.
The stock has lost nearly 35 percent this year.
BHEL lost 5.69 percent to Rs.1,910.40 and Maruti Suzuki declined 4.25 percent to finish at Rs.893.45.
Satyam Computer Services dropped 3.4 percent to Rs.409.
Wipro was down nearly 3 percent to Rs.403. ICICI Bank and HDFC shed 2.5 percent each at Rs.871 and Rs.2,565, respectively.
TCS declined nearly 2 percent to Rs.830. Hindustan Unilever Ltd (HUL) dropped 1.5 percent to Rs.223.
Bharti Airtel was the top gainer of the day, ending up by 6.85 percent at Rs.803. Other gainers included Tata Steel (up 5.13 percent at Rs.812), Bajaj Auto (up 5.07 percent at Rs.1,985) and ACC Ltd (up 4.39 percent at Rs.767).
DLF gained 3.44 percent at Rs.680 and Reliance Communications rallied 2.78 percent to Rs.558.
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