The Bombay Stock Exchange benchmark Sensex fell for the second straight session on Thursday after industrial output dropped most in almost 16 years.
The Sensex,which declined 29 points in the previous day’s trading,fell further by 152.71 points at 9,465.83 on heavy selling by funds in bluechip stocks led by the software,refinery and heavy machinery segments.
The key index touched the day’s low of 9,445.54 and a high of 9,580.13 points.
In similar fashion,the 50-share National Stock Exchange index Nifty fell by 32.65 points at 2,893.05,after moving between 2,886.55 and 2,939.00 points during the day.
Output at factories,utilities and mines dropped two per cent from a year earlier after a revised 1.7 per cent gain in November. Manufacturing,which accounts for about 80 per cent of the total output,fell 2.1 per cent in December against 1.7 per cent gain in November.
Selling pressure continued and even reports of a steep fall in the inflation rate failed to boost trading sentiment to any extent.
Infosys Technologies-led software exporters ended lower on concerns that US measures to stem the financial crisis will fail to boost growth in the industry’s biggest market.
The country’s over 60 per cent software revenue comes from the US market.