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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

Sensex plunges 277 points on weak global cues

Monday - Apr 23, 2012, 06:33pm (GMT+5.5)
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Sensex plunges 277 points on weak global cuesMumbai - Indian equities markets closed lower Monday with a benchmark index falling 277.16 points. Realty, banking and telecom stocks were among the worst losers as weak European cues impacted trading sentiments ahead of the derivative expiry next Thursday.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,347.76 points, closed at 17,096.68, down 277.16 points or 1.60 percent.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended lower at 5,200.60, down 90.25 points or 1.71 percent from its previous close.

Top losers included Hindalco, down 4.88 percent at Rs.118.90; Jindal Steel, down 4.32 percent at Rs.483.90; DLF down 4.21 percent at Rs.189; BHEL, down 4.19 percent or 10.30 points at Rs.235.75; and Infosys 3.92 percent or 94.30 points at Rs.2,311.95.

The Infosys scrip was hit badly after the company reported that it is being investigated by US agencies over errors in its identity verification forms of some of its employees.

Top gainers included Sun Pharma, up 1.07 percent or 6.30 points at Rs.595.15; ONGC up 0.70 percent or 1.85 points up at Rs.268; RIL, up 0.64 percent or 4.65 points at Rs.763.10; NTPC up 0.30 percent or 0.50 points at Rs.166; and HDFC up 0.06 percent or 0.40 points at Rs.684.90.

Broader markets were quiet too with the BSE 500 index closing 1.70 percent down. The BSE midcap index closed 1.67 percent lower, while the BSE small cap index ended 1.54 percent down.

All BSE sectoral indices were down, with metals, consumer goods, bank and auto stocks hit the most.

The market breadth was skewed in favour of declines. Only 65 of the 500 stocks on the BSE 500 index managed to close with gain.

Earlier, Asian stocks closed with deep cuts, contributing to the weakness in markets.


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