Mumbai, August 11: All-round selling pressure, especially in realty and IT stocks, pulled down the BSE benchmark Sensex by 150 points today amid distinctly weak global cues.
The dampened market sentiment took a further hit after the country’s top telecom operator, Bharti Airtel, posted a 32 per cent decline in June quarter profit to Rs 1,682 crore.
Analysts said that market sentiment was weak after the US Federal Reserve said that the recovery is losing pace. Wall Street ended in the deep red in yesterday’s session. In addition, the Bank of England’s gloomy outlook for the UK economy also depressed investor sentiment.
After a promising start, the markets came under selling pressure and the 30-share barometer of the Bombay Stock Exchange settled lower by 149.80 points, or 0.82 per cent, at 18,070.19, extending the losses for the second consecutive day.
—Agencies