The BSE Sensex continued its slide for the fifth day on Monday, falling over 175 points to a nearly four-week low, on selling by overseas funds in blue-chips.
Brokers said the market remained under pressure as the
rupee fell to two-month low of 63.44 against the US dollar, spurring concerns that capital inflows will slow and deter the Reserve Bank of India from easing liquidity curbs further.
Better US jobs data have raised speculations that improving economic growth might give the Federal Reserve to trim its $85 billion a month stimulus, analysts said.
The
30-share index of the Bombay Stock Exchange, which had lost 573.21 points in the previous four sessions, fell further by 175.19 points, or 0.85 per cent, to 20,490.96 - its lowest level since 20,415.51 on October 17.
The 50-share National Stock Exchange index Nifty lost 61.95 points, or 1.01 per cent, to end at 6,078.80 led by stocks of realty and capital goods. Also, SX40 index, the flagship index of MCX-SX, ended 93.4 points at 12,180.24.
Traders said they are are keeping a watchful eye on September IIP and October retail inflation data scheduled for release on Tuesday that would influence the central bank's policy moves.
Inflation data based on WPI will be declared on Friday.
The markets on Monday also appeared to shrug off positive sentiments emanating from data that showed
October export growth rose to a 2-year high of 13.5 per cent to $27.2 billion.
In the 30-share index, 24 stocks declined led by laggards like Reliance Industries, Bajaj Auto, Bharti Airtel, BHEL, L&T, Hero MotoCorp, Hindalco, Jindal Steel, ONGC and SBI.
Sectorally, the BSE Realty index suffered the most by losing 2.81 per cent, followed by Capital Goods (down 2.43 per cent), PSU (1.78 per cent), Power (1.51 per cent), Banking (1.42 per cent) and Oil&Gas (1.42 per cent).
Traders said global investors are now tracking 'taper talk' with Fed Bank of Minneapolis President Narayana Kocherlakota and Federal Reserve Bank of Atlanta chief Dennis Lockhart speaking on Tuesday.
With inputs from PTI
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