NEWS4EXCHANGE

Sensex drops more than 530 points, Nifty closes below 11,000

Mumbai, Sep 24 The BSE Sensex dropped more than 200 points in early trade Monday on expanded offering of realty, consumer durables, auto and banking stocks, in the midst weak Asian prompts and surging global crude oil prices.

The depreciating rupee also dampened investor sentiment.

The 30-share index, subsequent to opening positive at 36,924.72, immediately capitulated to offering weight and fell by 210.22 points, or 0.57 percent, to 36,631.38 in early trade.

The gauge has lost 1,249.04 points in the past four sessions.

Thus, the NSE Nifty declined by 65.50 points, or 0.59 percent, to 11,077.60 after a contacting a high of 11,170.15.

Sectoral indices led by realty, consumer durables, auto, banking and healthcare were trading the negative zone, falling up to 1.66 percent.

Real washouts were Bharti Airtel, Maruti Suzuki, Hero MotoCorp, M&M, Kotak Bank, Adani Ports, HDFC, ICICI Bank, Yes Bank, Axis Bank, PowerGrid and IndusInd Bank, shedding up to 2.32 percent.

Offers of Dewan Housing Finance Corporation bounced back almost 25 for every penny to Rs 438.75 after the organization expressed that it had not defaulted on any bonds or reimbursement nor had there been any single occurrence of postponement on any of its reimbursement of any obligation.

The organization's offers had tumbled 42.43 percent in the past session on Friday following gigantic offering over apprehensions of a liquidity emergency.

Merchants said showcase slant stayed feeble without any reassuring component and crisp shortcoming in the rupee, combined with rising worldwide unrefined petroleum costs, which again went past the USD 79 for each barrel stamp.

The rupee deteriorated 29 paise to 72.49 against the US dollar at the interbank forex advertise.

Remote portfolio investors (FPIs) bought shares worth a net of Rs 760.70 crore, while domestic institutional investors (DIIs) made buys to the tune of Rs 497.03 crore on Friday, temporary information appeared.

Elsewhere in Asia, while Japan and Chinese markets were closed Monday because of an open occasion, Hong Kong's Hang Seng fell 1.29 percent.

The Dow Jones Industrial Average, nonetheless, increased 0.32 percent to end at record high Friday.