BSE Sensex tumbles for fourth consecutive day, closes down 259 points

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The 30-share benchmark index dropped 258.66 points to 17,080.65 with 22 components ending in the red. The index swung between a high of 17,212.61 and a low of 17,038.03 during intraday trade.

The index, which hit a record high of 21,206.77 on Jan. 10 and climbed 10.5 percent in April, is down nearly 16.2 percent this year.

The day's worst performer was FMCG major ITC, which fell 5.24 percent to Rs.215.05.

IT stocks performed poorly with Satyam Computer Services, Infosys Technologies, Tata Consultancy Services and Wipro falling 3.72 percent, 3.44 percent, 2.33 percent and 0.40 percent to Rs.471.10, Rs.1779.80, Rs.943.70 and Rs.497.15 respectively.

Engineering and construction major Larsen & Toubro (L&T), India's largest private lender ICICI Bank and top-listed petrochemical refiner Reliance Industries (RIL) plunged 3.36 percent, 3 percent and 0.60 percent to Rs.2886.20, Rs.891.30 and Rs.2666.15 respectively. The three stocks contribute to nearly a half of the weight of the index.

Energy majors Reliance Infrastructure and NTPC lost 2.93 percent and 1 percent to end down Rs.1394.10 and Rs.192.70 respectively.

Financial stocks HDFC Bank, State Bank of India and Housing Development Finance Corporation closed down 2.24 percent, 2.17 percent and 0.30 percent at Rs.1508.40, Rs.1729.80 and Rs.2720.60 respectively.

Auto majors Tata Motors and Maruti Suzuki fell 1.57 percent and 0.58 percent to Rs.669.10 and 770.25 respectively.

Other major stocks to end in the red were Jaiprakash Associates (down 2.09 percent to Rs.269.05), Cipla (down 1.54 percent to Rs.211.55), BHEL (down 1.32 percent to Rs.1760.20), DLF (down 1.11 percent to Rs.643.80) and ONGC (down 1.09 percent to Rs.1028.35).

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