Mumbai: In a volatile market, the S&P BSE benchmark sensex moved down further for the third day today by 25 points on persistent selling pressure mainly in IT and Health care sectors amidst bearish global sentiment.
Fresh buying in Capital Goods, Refinery, Metal, Banking, Power, Realty and Auto sectors along with positive comments by IMF on India’s growth outlook mainly helped the market to cut short its early losses. Fall in crude oil prices in the global market also supported the late rebound.
The International Monetary Fund yesterday raised its growth forecast to 5.60 per cent for 2015 from 5.40 per cent earlier.
Sustained foreign capital outflows also affected the market sentiment as provisional data released by the stock exchanges showed that foreign portfolio investors (FPIs) sold shares worth a net Rs3.32 billion yesterday.
The sensex resumed lower at 26,229.67 and hovered in a range of 26,150.09 and 26,338.31 before ending at 26,246.79 showing a loss of 25.18 points or 0.10 per cent from its last close.
The NSE 50-share Nifty also moved down by 9.70 points or 0.12 per cent to finish at 7,842.70.
Asian stocks ended lower after the International Monetary Fund (IMF) cut its outlook for global growth in 2015.
Key benchmark indices in Singapore, Taiwan, Hong Kong, Japan and South Korea fell by 0.39 per cent to 1.19 per cent while China’s Shanghai Composite index rose by 0.80 per cent.