Mumbai: Falling for the second day, the benchmark Sensex Wednesday slid by another 97 points to its lowest level in nearly a week on persistent selling in blue-chips and declines in global stock markets after weak US jobs data.
After losing 29 points on Tuesday, the BSE Sensex resumed higher at 20,875.31 and firmed up further to 20,922.32 on initial strong buying on the back of foreign capital inflows.
However, the 30-share barometer later declined steeply to 20,589.72, before ending at 20,767.88 - a loss of 97.09 points or 0.47 per cent from its last close. This is the lowest closing level for Sensex since October 17 (20,415.51).
"It seems that the markets took the poor jobs data as a sign that it would negatively impact export driven industries tied to US importers as the Auto and IT sectors suffered falls," said Raghu Kumar, co-founder of brokerage firm RKSV.
US data showed Tuesday that employers there added 148,000 workers in September - lower than the 170,000-180,000 jobs estimated by experts.
The NSE 50-share Nifty ended lower by 24.45 points, or 0.39 per cent, to 6,178.35. Also, SX40 index, the flagship index of MCX-SX, closed at 12,338.82, down 64.34 points.
Brokers said selling in bluechips had picked up following disappointing quarter earnings by some companies. However, Hero MotoCorp gained 0.9 per cent after reporting over 9 per cent rise in Q2 profit.
IT major Wipro ended 4.41 per cent down after the company's sequential revenue growth continued to lag peers in September quarter while TCS and Infosys fell on profit-taking.
HDFC Bank, RIL, Sun Pharma, Tata Motors and ONGC fell in 1-2 per cent range. However, ICICI Bank, SBI and L&T shot up.
"PSU Banks showed strength today after the Finance Ministry approved Rs 14,000 crore capital infusion plan for the PSU Banks," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.
Globally, Asian stock reversed their initial gains. Key indices like Singapore, South Korea, Japan, Taiwan, China, Hong Kong fell in 0.17-1.95 per cent range. European markets were also trading lower with benchmark indices in France, Germany and UK down 0.44-0.76 per cent.
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