Mumbai, June 16 (Agency)
Domestic stock markets fell for the fifth consecutive trading session on Thursday and both the benchmark indices, BSE Sensex and NSE Nifty, closed at one-year lows. Domestic markets tumbled amid a weak global trend after the US Federal Reserve raised interest rates by 0.75 per cent to contain inflation.
The selling in the market was all round. The major contributors to the decline were Reliance Industries, HDFC Ltd., which have a strong share in the index. and HDFC Bank shares. Despite a good start in morning trade, the BSE Standard Index failed to sustain the gains and ended 1,045.60 points lower at 51,495.79. This is the lowest level of the Sensex in more than 12 months. Similarly, the Nifty of the National Stock Exchange also closed down 331.55 points at 15,360.60. Investors lost Rs 5.54 lakh crore due to the fall in the market. The market capitalization of the companies listed on BSE stood at Rs 2,39,20,631.65 crore.
Barring Nestle India, all Sensex stocks were in losses. Tata Steel, Tech Mahindra, Bharti Airtel, Wipro, IndusInd Bank, Bajaj Finance, Kotak Mahindra Bank, NTPC and Bajaj Finserv fell up to 6.04 per cent.