Sensex extends losses on monsoon concerns, loses 150 pts

Mumbai, Aug 10 (PTI) Shedding early gains, the Bombay
Stock Exchange benchmark Sensex on Monday fell further by 150
points on brisk selling by funds on fears that weak monsoon
rain would hurt a nascent economic revival.

The Sensex, which had lost 743.59 in the last two trading
sessions, went down further by 150.47 points to settle at
15,009.77. It touched the day's high of 15,417.34 and a low of
14,902.02.

The 50-share National Stock Exchange index Nifty fell
43.75 points to 4,437.65, after moving between 4,562.50 and
4,399.85 points during the day.

A weak opening at the European stock markets this
afternoon further precipitated the decline.

Auto sector shares led by Mahindra and Mahindra, the
largest maker of sport-utility vehicles and tractors, sank
9.12 per cent.

The auto sector index fell 4.52 per cent to 5,210.27,
followed by fast-moving consumer goods, which was down 2.96
per cent to 2,479.02, as segment majors Hindustan Unilever and
ITC Ltd suffered heavy losses.

Marketmen said funds moving from the secondary market to
the primary market after an overwhelming response to public
sector NHPC Ltd's initial public offering was a factor in the
fall.

Besides auto and FMCG, the capital goods sector fell 2.03
per cent to 11,909.91, and realty 1.66 per cent to 3,615.81.

Consumer durables lost 1.49 per cent to 2,968.31, PSU
1.33 per cent to 8,107.00, banks 1.30 per cent to 8,004.99,
power 0.93 per cent to 2,821.59, oil and gas 0.43 per cent to
9,517.44 and metals 0.63 per cent to 12,064.90.

As selling was spread widely, the smallcap index lost
1.95 per cent to 6,073.03 and the midcap index 1.71 per cent
to 5,340.48.

However, a gain in information technology and the teck
sector index saved the market from any further fall. PTI RS