MUMBAI, Jan 30 (Reuters): The BSE Sensex fell for a fifth consecutive session on Thursday to its lowest in 10 weeks as blue chips including banks slumped with the US Federal Reserve continuing to scale back stimulus despite the turmoil in emerging markets.
Risk aversion took a toll on banks, knocking them off 2.7 per cent. The NSE's banking sub-index, which has lost 9.4 per cent in the last six sessions, hit the lowest since October.
Dealers warn the NSE may continue to fall in the medium term as it has breached the 6,100 level - which has served as an important resistance in January and July 2013 - and was around its 100-day moving average.
Traders say foreign inflows and developments in emerging markets would be closely watched. Foreign investors have sold $1 billion in debt in the last five sessions to Tuesday and $412.26 million in shares over last four sessions to Wednesday.
"With most negative news such as rate hike, Fed tapering out of the way, flows and emerging market action would be the key for Indian shares," said G Chokkalingam, founder of research and fund advisory company Equinomics.
The Sensex fell 0.72 per cent, or 149.05 points, to end at 20,498.25, marking its fifth consecutive day of falls.
The Nifty lost 0.76 per cent, or 46.55 points, to end at 6,073.70.
Global equities hit 2-1/2-month lows on Thursday after the Fed announced a further $10 billion cut in its monthly bond purchases in a statement after its two-day policy meeting.
Sensex marks 10-week low
FE Team | Published: January 31, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like