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Journalism of Courage
Dalal Street succumbed to selling pressure for the second consecutive day as political concerns and weak Asian markets weighed on the investor sentiment. Banking, realty and capital goods stocks were hurt the most in the selling pressure. All the sectoral indices ended in the red. The 30-share BSE Sensex lost 334.32 points or 2.17 per cent at 15,087.99. Asian markets, which opened before Indian markets, ended on a weak note. With the settlement of most of Ranbaxy’s patent litigations on Pfizer Inc’s blockbuster drug Lipitor seen as offering no near-term benefit for the Indian company, its shares fell 7.68 per cent on Thursday.
Political worries continued to weight on the market sentiment for the second day in a row. The postponement of a key meeting between the government and its communist allies on the proposed nuclear deal between US and India is likely to keep the future of the deal uncertain.
